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Boskalis acquires Rever Offshore

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Oilfield Technology,


Boskalis has announced the acquisition of all the shares of Rever Offshore’s subsea services business.

Rever, formally known as Bibby Offshore, offers a broad range of solutions in the area of subsea construction, inspection, repair and maintenance.

Rever has historically operated in the North Sea out of Aberdeen, UK, and holds a strong track record. Through this transaction, Boskalis will obtain two diving support vessels, of which one is fully owned (Rever Polaris) and a second chartered (Rever Topaz). The group employs an onshore staff of around 130 in addition to approximately 220 offshore workers. The 2020 annual revenue is approximately €90 million, most of which is generated through numerous framework agreements. Based on projected cost synergies, the acquisition payback period is expected to be less than three years.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/05012021/boskalis-acquires-rever-offshore/

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