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Boskalis Closes Acquisition of VolkerWessels Offshore Wind Energy Activities

Boskalis Closes Acquisition of VolkerWessels Offshore Wind Energy Activities

View all news from: Boskalis Subsea Ltd
View directory entry for: Boskalis Subsea Ltd

04 July 2016

Royal Boskalis Westminster N.V. (Boskalis) has concluded the acquisition of offshore-related activities from VolkerWessels. The transaction strengthens Boskalis' position in the attractive, growing offshore wind energy market.

The acquired activities consist of VBMS, Stemat and VSI (Volker Stevin International). VBMS is the European market leader in the field of offshore cable installation with a strong market position and well-filled order book. Boskalis already held 50% of the shares in VBMS and has acquired the remaining 50% through this transaction. Stemat has a global offering of specialized floating equipment and a diverse fleet that includes a cable-laying vessel and multi-purpose vessels. VSI is specialized in the construction of offshore foundations and maritime constructions. Late 2014 and mid-2015, Boskalis and VSI in joint venture acquired two large offshore wind farm projects, Wikinger and Veja Mate respectively. As a result of this transaction Boskalis will execute these projects on a 100% basis.

The activities will be consolidated as of the third quarter this year.