Boskalis taking full ownership of Smit Lamnalco

Boskalis is buying out its joint venture partner the Rezayat Group, an investment company, to take full ownership of the operation after previously reporting its intent to divest of its harbour towage activities.

In 2023, Smit Lamnalco reported an annual revenue of approximately $275 million and an EBITDA of $100 million, said Boskalis. The acquisition is pending customary conditions, including regulatory approvals.

Boskalis said it was a strategic move aimed to enhance its position in the maritime services sector.

Smit Lamnalco offers marine services for oil and gas terminals, LNG terminals, SPM terminals, floating production units, harbor towage, and mining logistics. The company operates a fleet of over 225 vessels.

The Smit Lamnalco brand was established in 2012 through the merger of Lamnalco and SMIT Terminals. The merger followed Lamnalco’s acquisition of SMIT’s terminals and AHTS transport businesses from Boskalis in 2011, creating a major offshore marine services provider.