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Two Smit Lamnalco tugs working off Oman. Image: Smit Lamnalco

Two Smit Lamnalco tugs working off Oman. Image: Smit Lamnalco

Boskalis to Fully Acquire Smit Lamnalco

Mike Schuler
Total Views: 0
July 8, 2024

Royal Boskalis B.V. (Boskalis) has signed an agreement to acquire the remaining 50% shares in Smit Lamnalco, thereby taking full ownership of the company. Smit Lamnalco, known for providing terminal services, reported an annual revenue of approximately USD 275 million and an EBITDA of USD 100 million in 2023.

The transaction is subject to customary conditions, including regulatory approval.

Boskalis had announced in 2021 that it was reviewing its position as a shareholder in the strategic joint venture Smit Lamnalco. Since 1964, Boskalis has held a 50% stake in the company, with the remaining shares owned by The Rezayat Group.

Smit Lamnalco offers marine services for oil and gas terminals, LNG terminals, SPM terminals, floating production units, harbor towage, and mining logistics. The company operates a fleet of over 225 vessels and employs nearly 3,000 staff globally.

The Smit Lamnalco brand was established in 2012 through the merger of Lamnalco and SMIT Terminals. The merger followed Lamnalco’s acquisition of SMIT’s terminals and AHTS transport businesses from Boskalis in 2011, creating a major offshore marine services provider.

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