Dutch offshore services provider Boskalis has acquired all the shares of Rever Offshore’s subsea services business.
Rever, formally known as Bibby Offshore, provides solutions in the area of subsea construction, inspection, repair and maintenance.
Through the transaction, Boskalis will obtain two diving support vessels – Rever Polaris which is fully owned and the chartered Rever Topaz.
The group employs an onshore staff of around 130 in addition to approximately 220 offshore workers.
Based on projected cost synergies, the acquisition payback period is expected to be less than three years.
With the acquisition, Boskalis said it strengthens its current position in the subsea services market in Northwest Europe, Africa and the Middle East and its capabilities to serve both the traditional oil & gas market and the rapidly expanding offshore wind market.