Boskalis Acquires Fairmount Companies

MarineLink.com
Monday, March 03, 2014
Photo courtesy Boskalis

Royal Boskalis Westminster N.V. (Boskalis) announces that it has reached an agreement to acquire Fairmount Marine B.V. and Fairmount Ocean Towage Company B.V. (Fairmount) from the French group Louis Dreyfus Armateurs. The transaction values the company at an average multiple of approximately six times EBITDA.

Fairmount is a global provider of long distance ocean towage services operating five 205 metric tons bollard pull towing vessels with anchor handling capabilities.

The addition of these ocean going anchor handling tugs (AHTs) allows Boskalis to further expand its market position in both offshore energy and salvage. The use of ocean going tugs for long distance wet towage is complementary to Boskalis' current dry heavy marine transport offering. With the Fairmount assets, Boskalis can offer clients the full spectrum of heavy marine transport solutions tailored for the type of cargo or specific requirements. The AHTs also have the potential of being deployed into offshore projects thereby expanding Boskalis' current transport and installation offering and can be used in salvage projects.

Boskalis said its strategy is aimed at benefitting from key macro-economic factors which drive worldwide demand in our markets: expansion of the global economy, increase in energy consumption, global population growth and the challenges that go hand in hand with climate change. This acquisition is driven by the expansion of the global economy and increase in energy consumption, the company said.

boskalis.com
 

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DNV-GL Approves Kongsberg Engine Room Simulators

Kongsberg Maritime has received DNV-GL certification for three of its latest engine room simulator models designed to provide in-depth training on the K-Sim Engine simulator platform.

Container Shipping Lucky to Break Even in 2015

A toxic mixture of overcapacity, weak demand and aggressive commercial pricing is threatening liner shipping industry profitability for the rest of 2015, according

CMA CGM's OPDR Acquisition Approved by EU

The CMA CGM Group announced that the European Commission has approved its acquisition of OPDR. In order to finalize the acquisition, which was announced on November 25, 2014 by Jacques R.

News

Tunisia Reassures Yachters Following Terror Attack

A week after a terrorist attack in Tunisia, local superyacht businesses are reassuring yachters that security has been increased at Tunisian ports despite numerous cancellations.

Shell's Icebreaker Vessel Damaged in Alaska

Royal Dutch Shell Plc's  icebreaker vessel Fennica returned to the Dutch Harbor in Alaska with a small breech in the hull, raising concerns about the company's

Djibouti Training Center Build on Pace

The construction of the Djibouti Regional Training Centre (DRTC) in Doraleh, Djibouti is moving forward in earnest, with a view to completion by the end of September 2015,

Mergers & Acquisitions

CMA CGM's OPDR Acquisition Approved by EU

The CMA CGM Group announced that the European Commission has approved its acquisition of OPDR. In order to finalize the acquisition, which was announced on November 25, 2014 by Jacques R.

Maersk Sells Its Stake in ESVAGT

Danish conglomerate A.P Moller-Maersk said Tuesday two international infrastructure investors have agreed to buy 100% of the Danish company ESVAGT from Maersk Group and ESE-Holding A/S.

De Nora Acquires Severn Trent's Water Purification Business

De Nora announces the completion of the acquisition of the Water Purification group of Severn Trent Services. The new business line, called De Nora Water Technologies,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1825 sec (5 req/sec)