Royal Boskalis has signed an agreement to acquire all remaining shares (fifty per cent) in Smit Lamnalco. Smit Lamnalco offers terminal services and had an annual revenue of approximately USD 275 million and EBITDA of USD 100 million in 2023.

Smit Lamnalco started operations in 1963. Boskalis already holds a fifty per cent stake in the company, which it has held since its inception, with the remaining shares held by The Rezayat Group, a Saudi/Kuwaiti owned conglomerate. Back in 2021, Boskalis said it was reveiwing its position as shareholder in Smit Lamnalco, with The Rezayat Group doing the same, but nothing really came of it.

The transaction is subject to customary conditions including the approval of regulatory authorities.

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Smit Lamnalco fleet

Smit Lamnalco operates a diverse fleet of some 160 vessels, mostly harbour and terminal tugs as well as offshore support vessels. The tugs provide marine services to oil, gas and LNG terminals as well as port operations. The DP1 and DP2 offshore support vessels are designed to provide a wide range of offshore support duties around floating production facilities (F(P)SO, FLNG, FSRU, SPM).

Smit Lamnalco also operates a variety of other vessels, mainly crew and pilot boats, which are supportive to the company’s core business.

The company has an in-house technology and new build team. In total, Smit Lamnalco employs about 2500 people of 42 nationalities and is active in 25 countries.

Picture by Ali Ünlüso.

Also read: Boskalis is reviewing position in Smit Lamnalco