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News » UK » Boskalis buys Gardline for £40m » published 17 Aug 2017

Boskalis buys Gardline for £40m

Marine geotechnical specialist Gardline has been taken over by Dutch dredging company Royal Boskalis Westminster for £40m.

Boskalis said that the acquisition of Gardline fulfilled its strategic ambition to build a position in the offshore survey market.

Gardline puts Boskalis in the market for subsea geotechnical surveys for the offshore energy sector, including wind turbine erection. Gardline operates 15 survey related vessels in addition to 25 smaller vessels including crew transfer vessels and survey catamarans.

Boskalis said that it did not expect to see a pay-back from the takeover for several years. “This transaction however positions Boskalis well for when end-markets recover,” it said.

Gardline was established in 1969 and was a second-generation family-owned business with annual revenues of approximately £60m to £70m and 750 employees. Its main competitor is Fugro. Principal offices are in Great Yarmouth with further activities in the USA, Brazil and Singapore.

 

 

MPU

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This article was published on 17 Aug 2017 (last updated on 17 Aug 2017).

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