Boluda’s announcement in February that it would buy Smit Lamnalco invites a closer look at the background to a deal in which the Spanish towage giant takes control of the world’s fifth-largest towage operator.

Consolidation and takeovers within the global towage industry stretch back decades, producing a succession of interesting developments - with activity particularly intense of late.

Dutch conglomerate Boskalis’s acquisitions, as it expanded over time, included Dutch salvage contractor Smit along with subsequent involvement in joint ventures with other towage operators, resulting in, for example, Singapore-based Keppel Smit Towage and Netherlands-based Kotug Smit Towage, a 50/50 arrangement with Kotug International BV.