Boluda Towage Acquires Les Abeilles, Expanding Fleet and Strengthening Global Presence

Boluda Towage has further solidified its position as a leading global operator in the towage and maritime salvage sector with the acquisition of Les Abeilles, a French company known for its fleet of six rescue vessels. The transaction was finalized on June 4, 2024, following approval from French authorities.

The acquisition is part of Econocom's strategy to dispose of non-strategic assets, allowing the group to finance approximately half of its external growth targets for its 2024-2028 strategic plan, 'One econocom.' Econocom, a pioneer in supporting digital transformation, generated revenue of €2,681 million in 2023 and employs over 8,800 people across 16 countries.

Jean-Louis Bouchard, Chairman and CEO of Econocom Group, expressed his satisfaction with the deal, stating, 'I am delighted that we have finalized the sale of Abeilles to the Boluda group. This will give Les Abeilles' employees the opportunity to join Europe's leading towage firm.' The sale is expected to substantially reduce Econocom's financial debt without affecting its 2024 revenue growth guidance.

Boluda Towage France will manage the personnel and crews of Les Abeilles, comprising over 100 professionals. The acquisition allows Les Abeilles to benefit from Boluda's support for future growth, enhancing its capabilities in emergency maneuvers, maritime salvage, and providing strategic coverage on the French and North European coasts.

The acquisition of Les Abeilles by Boluda Towage has significant implications for the global towage and maritime salvage sector, as it solidifies Boluda's position as a leading operator. This deal is likely to have consequences for the industry's competitive environment, potentially leading to further consolidation and changes in market dynamics.

Boluda is engaged in a dynamic external growth policy, with recent acquisitions in the UK and Gibraltar, further strengthening its position as a leading global operator. The addition of Les Abeilles' six rescue vessels to Boluda's fleet will significantly bolster its operational capabilities.

In France, Boluda has also expanded its fleet with the new azimuth stern drive (ASD) tugboat, VB Loup, built by Damen Shipyards. This powerful vessel will be used for port maneuvers, ship docking, offshore and coastal towing, and salvage operations, further enhancing Boluda's presence in key ports.

The acquisition of Les Abeilles marks a significant step in Boluda's ongoing expansion strategy, reinforcing its commitment to excellence and innovation in the towage and maritime salvage sector. With a stronger fleet and enhanced capabilities, Boluda is well-positioned to address the challenges and opportunities in the industry.

Key Takeaways

• Boluda Towage acquires Les Abeilles, a French company with 6 rescue vessels.
• The deal solidifies Boluda's position as a leading global towage operator.
• Les Abeilles' 100+ employees will join Boluda Towage France.
• The acquisition enhances Boluda's capabilities in emergency maneuvers and salvage.
• Boluda strengthens its presence in French and North European coasts.