Royal Boskalis Westminster has acquired a 62.5% majority stake in the UAE-based Horizon Group, a provider of marine geophysical and geotechnical services.
According to Horizon, the remaining 37.5% will stay unchanged and held by the company's management.
"Through this transaction, we are adding an important strategic position to our existing marine survey and subsea geotechnical business," said Peter Berdowski, Boskalis CEO.
"Horizon is a market leader in the Middle East and we are committed to continuing and expanding the high quality of services they deliver to their clients. Furthermore, Horizon with its strong market position in the Middle East, makes this addition highly complementary to the position we hold through Gardline in Northwest Europe."
Horizon operates seven large survey/geotechnical vessels, three of which are on a long term charter, as well as five smaller survey vessels, two jack-up platforms, three motion-compensated drill towers for geotechnical services and eight ROVs.
“We are pleased to welcome Boskalis, who are joining Horizon during a period of significant growth. Horizon has an ongoing capital investment program which includes the recent acquisition of the DP2 vessel Adams Nomad (renamed Horizon Nomad), the construction of work-class ROV’s, and acquisition of additional geotechnical & survey equipment," Ian Roberts, Horizon Geosciences Group Managing Director.
Roberts added that the company will continue doing business as usual and focusing on providing services to the offshore oil & gas and renewables and offshore wind industries.
Horizon's most recent offshore wind activity includes a site investigation campaign with its vessel MV Horizon Geobay at the Inch Cape offshore wind farm at the Outer Firth of Tay and Firth of Forth, Scotland.