Royal Boskalis Westminster has reached an agreement with Strabag SE for the[ds_preview] acquisition of the dredging activities and assets of Strabag Wasserbau, formerly known as Möbius Wasserbau. Strabag Wasserbau, based in Hamburg, is the market leader in the German dredging sector. The company has an annual turnover of approximately 50mill. € with a broad array of equipment.
The agreed transaction price of 70mill. € will be financed from the company’s own cash flow. The transaction is limited to acquiring the equipment, personnel plus a couple of maintenance contracts. The most important assets are two young shallow draft trailing suction hopper dredgers with a capacity of 7,350m3 each, a large modern backhoe dredger and four self-propelled barges.
The acquisition strengthens Boskalis’s home market position in Germany and by acquiring the hopper dredgers, the requirement to renew part of the Boskalis dredging fleet in the 6,000m3 to 9,000m3 space will be fulfilled. In view of this acquisition Boskalis will be taking a number of dredgers out of service in 2016.
