Boskalis Acquires UAE Marine Services Provider Horizon
- Business & Finance
Royal Boskalis Westminster (Boskalis) has acquired a 62.5% stake in the Horizon Group (Horizon), a provider of marine geophysical surveys and geotechnical services from United Arab Emirates.
The remaining 37.5% of the shares are held by the incumbent management.
Peter Berdowski, CEO Boskalis, said: “Through this transaction, we are adding an important strategic position to our existing marine survey and subsea geotechnical business. Horizon is a market leader in the Middle East and we are committed to continuing and expanding the high quality of services they deliver to their clients. Furthermore, Horizon with its strong market position in the Middle East, makes this addition highly complementary to the position we hold through Gardline in Northwest Europe.”
Horizon operates seven large survey/geotechnical vessels, of which three are on a long term charter, in addition to five smaller survey vessels, two jack-up platforms, three motion-compensated drill towers for geotechnical services and eight ROVs.
Horizon was established in 2004 and is located in Sharjah, UAE. Its activities are largely based in the Arabian Gulf and the Red Sea.