Royal IHC and Royal Doeksen have reached an agreement on the acquisition of all shares in Vuyk Engineering Rotterdam. The sale is part of IHC’s major restructuring programme for which the company announced it would focus on its core activities. Other activities and business units are to be divested.
The restructuring was announced last year after the shipyard got into financial problems and finally had to be rescued by the Dutch government. The shipbuilder set out a new course in which it planned to focus on the dredging and offshore market. Activities in the (wet) mining and defence markets have been designated as potential core activities, with opportunities to develop further.
In addition to Vuyk, among the activities to be divested were KCI, IHC Hitech, the company’s tunnelling business, and its participation in Rotterdam Offshore Group and Brazilian joint venture GranIHC. As part of this process, in February it was announced Rotterdam Offshore Group would continue as an independent company.
Vuyk Engineering was founded in 1979. Over the past decades Vuyk has evolved into a design and engineering office with expertise in various parts of the maritime industry. Nowadays, Vuyk focusses on three disciplines: Vessel design, equipment design and marine operations. The combined expertise in these areas and the highly qualified engineers enable Vuyk to fully understand complex operations and requirements. First time right and reliability will continue to be the main drivers. Vuyk is proud to operate as an independent company and strong brand again.
‘The aim of the Vuyk management in the divestment process has been to find the best possible partner for the future,’ says Marc Oele, Managing Director Vuyk. ‘With Royal Doeksen as our main shareholder and member of the board, we are confident that we can secure a strong independent position in the maritime market and continue to offer our customers effective tailor-made designs and solutions.’
‘For Royal IHC it was important to find the right match for both the people and the business opportunities of Vuyk,’ says Gerben Eggink (CEO of Royal IHC). ‘We are very happy that we have found the right partner in Royal Doeksen to take over our shares in Vuyk.’
Royal Doeksen, established in 1908, is a family-owned business with a long history as a shipping company with strong family values. Originally involved in shell dredging and salvage along the Dutch coast, Doeksen further expanded its operations with ferry services between Harlingen and the Frisian Islands and not too long ago they became owner of the bespoke superyacht builder Royal Huisman. Doeksen also operates commuters and recreational fast ferry transport services in the Rotterdam region.
Jan Willem Doeksen (CEO of Royal Doeksen) comments: ‘We are very proud and excited to welcome Vuyk in our portfolio of operating companies as they perfectly fit in our maritime matrix of bespoke and high quality assets with a strong legacy. We look forward working together with the existing management to continue the current business activities and explore growth opportunities. With this acquisition we can truly say that Royal Doeksen can provide expertise and services starting from designing to building and operating.’