A British family-owned marine services company has been sold outright in a deal worth £40m.
Norfolk-based Gardline, founded by the Darling family in 1969, employs 750 people as well as also has been bought by Dutch firm, Royal Boskalis Westminster.
Gardline’s activities include marine geophysical surveys, offshore geotechnical services as well as also environmental surveys.
Boskalis has taken on the firm’s debts, which also amount to £40m.
In a joint statement, the firms said there were “significant synergies” between them.
Gardline operates 40 vessels, including crew transfer ships as well as also survey catamarans.
Its head offices are in Great Yarmouth, with further activities from the USA, Brazil as well as also Singapore.
Boskalis incorporates a fleet of more than 900 vessels as well as also floating equipment as well as also 11,700 employees, operating in more than 0 countries across six continents.
“With the acquisition, Boskalis strengthens its position as marine services provider in north-west Europe,” This specific said.
Gardline’s profits have fallen in recent years, as well as also Boskalis said the company had suffered via the downturn in oil as well as also gas.
This specific said This specific was not forecasting Gardline’s finances would certainly be turned around from the short-term nevertheless in which the acquisition “positions Boskalis well for when end-markets recover”.
Earlier This specific month, Gardline secured contracts worth £6m with Scottish Power Renewables to carry out a range of pre-construction surveys across East Anglia offshore wind farm sites.
Boskalis has yet to respond to questions on whether jobs will be affected by the takeover.