Boskalis purchases offshore cable assets of Bohlen Doyen GmbH

Royal Boskalis Westminster N.V. reached an agreement with SPIE for the acquisition of the offshore cable installation activities and assets of Wilhelmshaven based Bohlen Doyen GmbH.

Bohlen Doyen’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 company’s offshore activities generate an annual turnover of EUR 20-30 million. Its cable installation project track record include BorWin 3, DolWin 3 and NordLink. The company was also involved as subcontractor to Prysmian in the first phase of Ostwind. Recently Boskalis received the award for Ostwind 2 for which Bohlen Doyen is well-positioned to execute the nearshore activities.

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. The vessels are specifically suited for the installation of export cables in sheltered water and the rapidly growing cable repair market.

Close of the transaction is expected to take place in the first quarter 2019 subject to the satisfaction of customary conditions. The agreed transaction does not include any goodwill and will be financed from Boskalis’ own cash flow. Photo: Boskalis’ cable layer Ndurance

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