Dredging acquisition

STRABAG Wasserbau has an annual turnover of approximately €50 million and a broad array of equipment. The agreed transaction price is €70 million, which will be financed from the company’s own cash flow.

The transaction includes acquisition of equipment, personnel and a couple of maintenance contracts. The most important assets are two young shallow draft trailing suction hopper dredgers with a capacity of 7,350 m3 each, a large modern backhoe dredger and four self-propelled barges.

The technical specifications of the hoppers make them attractive for port maintenance, coastal and beach replenishments projects.

Through this acquisition, Boskalis not only aims to strengthen its home market position in Germany, but achieve its aim to renew part of the Boskalis dredging fleet in the 6,000 m3 to 9,000 m3 sector.

The transaction should be closed in the first quarter of 2016 subject to the satisfaction of customary conditions.