The Spanish-based tugboat company Boluda, which is active in Germany, is taking over the Finnish company Yxpila Hinaus-Bogsering (YHB).
The acquisition is intended to expand the company’s presence in Northern Europe, according to a press release. The Spaniards are now also entering the Scandinavian market via the site on the Gulf of Bothnia.
The family-owned company Yxpila Hinaus-Bogsering (YHB) was founded more than 40 years ago in the Finnish port of Kokkola, where it offers harbour towing and icebreaking services. Boluda takes over the fleet of six vessels, including five icebreakers. The ports of Kokkola, Vaasa, Raahe and Kemi are served.
Boluda remains on course for expansion
“This purchase is a further step towards consolidating our position in Northern Europe,” says Vicente Boluda Fos, President of Boluda. The port of Kokkola has grown considerably over the last ten years and has developed into one of the most important transshipment points in Finland. It is particularly important for the mining industry and for loading bulk goods, chemicals and timber.
Boluda had already embarked on an aggressive expansion course from Spain in recent years. First, URAG in Bremerhaven and Lütjen & Reimers in Hamburg were acquired in 2017. The Spaniards then paid €300m for Kotug Smit Towage (KST), previously a joint venture between Boskalis and Kotug with a presence in a total of eleven ports in the Netherlands, Belgium, Germany and the UK.
The origins of the Spanish group of companies date back to 1837; the tugboat business was founded in Valencia in 1920.
