Dredging specialist Royal Boskalis Westminster has announced that it has acquired marine geophysical and offshore geotechnical business Gardline.
Boskalis has said that the acquisition is a strategic move to position itself in the offshore survey market and become a specialist provider of subsea geotechnical surveys to serve the renewables and oil and gas market.
Gardline generates an annual revenue of between £60M and £70M. Boskalis has not revealed the price it paid for the business but has said that it does not expect to recoup the costs in the next few years but is investing with a view to benefit when the “end-markets recover”.
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