Boskalis Completes Strabag Wasserbrau Acquisition

Royal Boskalis Westminster N.V. announced that it completed the acquisition of the dredging activities and assets of STRABAG Wasserbau GmbH.

The deal, valued at €70 million, included the equipment, personnel and relevant contracts of STRABAG Wasserbau.

“The most important assets are two young trailing suction hopper dredgers with a capacity of 7,350 m3 each, a large modern backhoe dredger and four self-propelled barges,” Boskalis said in a statement.

This acquisition allows Boskalis to strengthen its home market position in Germany.

Boskalis recently acquired a contract together with Züblin AG from the Bremen port authority for the construction of a transshipment terminal for the offshore wind sector in Bremerhaven. Boskalis’ share of the contract carries a value of more than €35 million. Work is expected to commence at the end of 2016 and will take two years. Part of the activities is the dredging of three million cubic meters of sand by a medium-sized trailing suction hopper dredger.

Boskalis said that it used its own cash to finance the deal.