Image credit: Smit Lamnalco.
Boskalis, a company known for marine services, just signed a deal to buy the remaining half of Smit Lamnalco. This means Boskalis will now own Smit Lamnalco entirely. Smit Lamnalco brings in about $275 million a year and made a profit of $100 million in 2023 by providing services for terminals that handle oil & gas, LNG, and other materials. The deal still needs to be approved by regulators, but it seems like a done deal.
Boskalis had been thinking about selling its share of Smit Lamnalco since 2021. They’ve owned half the company since 1964, with the other half belonging to The Rezayat Group.
Smit Lamnalco helps ships at oil & gas terminals, LNG terminals, and other special ports. They also tow ships in harbors and help move supplies for mining operations. The company has a big fleet of over 225 vessels and employs nearly 3,000 people worldwide.
Smit Lamnalco itself was formed in 2012 by merging two other companies. Back in 2011, Lamnalco bought some businesses from Boskalis and merged with SMIT Terminals to become the big marine services company we know today.