Royal Boskalis has completed the acquisition of Smit Lamnalco. Boskalis had been a fifty per cent shareholder in Smit Lamnalco since its inception in 1963 and through this transaction acquires all remaining shares.
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 has acquired the remaining shares from The Rezayat Group, a Saudi/Kuwaiti owned conglomerate. Back in 2021, Boskalis said it was reviewing its position as shareholder in Smit Lamnalco, with The Rezayat Group doing the same, but no changes subsequently ensued.
Boskalis first announced its plans to acquire all shares in July 2024, stating that the transaction was subject to customary conditions including the approval of regulatory authorities. This process has now been completed.
Also read: Boskalis to acquire all shares in Smit Lamnalco
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.
