Construction company VolkerWessels to sell Dutch divisions to HAL and Boskalis

The Dutch operations of construction and infrastructure company VolkerWessels are being taken over by the investment firm HAL and dredging and maritime services provider Boskalis. VolkerWessels owner Reggeborgh has reached an agreement in principle on the deal.

The deal concerns the Construction & Real Estate Development and the Infrastructure NL division. VolkerWessels’ international operations in the United Kingdom, North America, and Germany are not part of the proposed transaction.

The proposed acquisition is still subject to approval by the relevant competition authorities and the completion of the necessary works council procedures. The purchase agreement is expected to be signed by the end of the third quarter, with completion anticipated in the first quarter of next year

According to a statement from HAL, the owner of Boskalis, the Dutch activities of the company based in Rijssen generated revenues of 3.6 billion euros and an operating profit of 217 million euros last year. No acquisition price has been disclosed.

“The proposed transaction is in line with our expectations of further consolidating the construction and infrastructure in the Netherlands. Reggeborgh believes that this transaction is in the best interests of our stakeholders. An important consideration in Reggeborgh’s decision was that HAL is known as a long-term and stable investor. We have great confidence in the new combinations that will be formed," said Reggeborgh CEO Henry Holterman.

“The now announced acquisition in the Netherlands strengthens the positions of the companies involved, and we look to the future of these businesses with great confidence,” said VolkerWessels CEO Alfred Vos.

In addition to dredging and maritime services, Boskalis is also active in infrastructure projects, such as highway maintenance.