Boskalis acquires FairmountCompany News // March 4, 2014
Royal Boskalis Westminster has reached agreement to acquire Fairmount Marine and Fairmount Ocean Towage Company from Louis Dreyfus Armateurs. The transaction values the company at an average multiple of approximately six times EBITDA.
Fairmount is a leading global provider of long distance ocean towage services operating five 205 tonnes bollard pull towing vessels with anchor handling capabilities.
The addition of these ocean going anchor handling tugs (AHTs) allows Boskalis to further expand its market position in the offshore energy and salvage sectors.
The use of ocean going tugs for long distance is complementary to Boskalis' current dry heavy marine transport offering. With the Fairmount assets, Boskalis can offer clients the full spectrum of heavy marine transport solutions tailored for the type of cargo or specific requirements.
The AHTs also have the potential of being deployed into offshore projects, expanding Boskalis' current transport and installation offering and can be used in salvage projects.