Royal Boskalis Westminster (Boskalis) has reached an agreement with SPIE for the acquisition of the offshore cable installation activities and assets of Bohlen Doyen (BoDo). The company is based near Wilhelmshaven, Germany.
BoDo's offshore cable laying business operations comprise of grid to grid and offshore substation to shore connections, which includes the installation of (nearshore) offshore cables and the connection of offshore wind farms to substations. The scope of the transaction includes the acquisition of the equipment, burial tools, personnel plus several smaller commercial and maintenance contracts. The most important assets are three large cable laying barges with capacities ranging from 800 to 4,000 metric tons. BoDo’s offshore activities generate an annual turnover of € 20-30 million. The agreed transaction does not include any goodwill and will be financed from Boskalis' own cash flow. It is the intention to close the transaction in the first quarter 2019 subject to the satisfaction of customary conditions.