ABL Group — M&A Activity 2021

Dec 15, 2021

AqualisBraemar LOC completes OSD-IMT acquisition

AqualisBraemar LOC completes OSD-IMT acquisition

15 December 2021 – Energy and marine consultancy AqualisBraemar LOC Group (ABL Group) has successfully completed the acquisition of the UK operations of ship design and marine consultancy company OSD-IMT from Damen Shipyard Group.

OSD-IMT is a specialist consultancy in ship design for newbuild, refit and conversion projects. The company operates in all key marine markets – including the renewables, maritime, defence and oil and gas sectors. Its expert knowledge covers a broad selection of vessel types and a wide range of technologies, including design and engineering for alternative fuels. The company in particular specialises in newbuild construction, support and supply vessels for the offshore energy industry, dredger and dredging support vessels, and marine survey vessels.

OSD-IMT, which has launched more than 150 designs to date, will become part of ABL Group company Longitude Engineering, which specialises in marine operations engineering and marine design, conversion and upgrade of specialised vessels. Further, Longitude has a solid track-record in the design and development of clean shipping technology, with expertise in hybrid-propulsion, LNG and hydrogen fuelled-vessels.

“Our plan is to combine OSD-IMT’s ship design track record with Longitude’s specialist expertise in marine design, consultancy and operations. While OSD-IMT have traditionally focused more on newbuild ship design, Longitude’s legacy is rooted in specialist consultancy services including advanced analysis, hybrid power systems and procurement support. The combination is an excellent match,” says Jake Anderson, Group MD for Engineering Services at ABL Group and managing director of Longitude Engineering.

“With maritime decarbonisation accelerating into focus, bringing together OSD-IMT and Longitude’s portfolios in alternative fuel-powered vessel design, will significantly reinforce our offering to support a wide range of maritime stakeholders on the path to net-zero,” Dean Goves, Managing Director Maritime

Longitude Engineering specialises in independent engineering, design and analysis for renewables, maritime, defence, oil and gas and infrastructure market sectors. It primarily supports clients with marine operations engineering and marine design, conversion and upgrade, supporting marine projects and assets throughout their development lifecycle.

ENDS

For further media information, please contact:

Investors and financial media:

Haakon Brandrud, Director of Strategy and Corporate Development

Tel: +47 95 07 05 12

Other media enquiries:

Endre Aaberg Johansen

Tel: +47 41 61 06 05

Email: endre.johansen@corpcom.no

About AqualisBraemar LOC ASA

AqualisBraemar LOC ASA (OSE: Aqua) offers independent energy and marine consultancy to the global renewables, maritime and oil and gas sectors. The group has offices in 39 countries worldwide. AqualisBraemar LOC ASA operates under seven brands: AqualisBraemar LOC, OWC, Innosea, Longitude, JLA, East Point Geo and ABL Yachts.