Royal Boskalis Westminster has reached an agreement with SPIE to acquire the offshore cable installation activities and assets of Bohlen Doyen.
Bohlen Doyen’s offshore cable-laying business consists of grid-to-grid and offshore substation-to-shore connections, including installing nearshore cables and connecting offshore windfarms to substations.
The German company, based near Wilhelmshaven, has a long-established position in the German offshore cable installation market. Its offshore activities generate an annual turnover of €20-30M (US$23M-34M). The transaction does not include any goodwill and will be financed from Boskalis’ cash flow.
The scope of the transaction includes acquiring the equipment, burial tools and personnel plus several smaller commercial and maintenance contracts.
The most important assets are three large cable-laying barges with capacities ranging from 800 tonnes to 4,000 tonnes. Boskalis said the technical specifications of these vessels make them ideally suited for installing export cables in sheltered water and the rapidly growing cable repair market.
Bohlen Doyen’s track record includes cable installation on projects including BorWin 3, DolWin 3 and NordLink. As subcontractor to Prysmian, Bohlen Doyen was involved in the first phase of the Ostwind project for 50Hertz. Recently Boskalis received a contract for Ostwind 2, for which Bohlen Doyen is well-positioned to execute the nearshore activities.
The transaction is due to close in Q1 2019 subject to customary conditions.
The Offshore Wind Journal Conference in London on 5 February 2019 will address key issues including global market developments, increasing turbine sizes, floating offshore wind and industry regulations.