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Boskalis acquires Rever Offshore to grow subsea services business

Photo: Boskalis boskalis-fallpipe-vessel-.jpeg
Boskalis has acquired Rever Offshore, formerly known as Bibby Offshore, subsea services business.

Rever offers a broad range of solutions in the area of subsea construction, inspection, repair and maintenance.

Through the 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.

Rever has historically operated in the North Sea out of Aberdeen, United Kingdom, and holds a strong track record. The 2020 annual revenue is approximately $110m, most of which is generated through numerous framework agreements.

Based on projected cost synergies, Boskalis said that acquisition payback period is expected to be less than three years.

Through this acquisition, Boskalis 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 expanding offshore wind market.


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