LOC Group Ltd (incorporating London Offshore Consultants) – a leading global marine engineering consultancy – has secured a minority external investment from Bridgepoint Development Capital (BDC). Financial details of the investment were not disclosed.
Established in 1979, LOC Group operates from 30 offices located around the globe across six continents and is owned by its employees using a quasi-partnership model. Headquartered in London, LOC employs over 400 staff including master mariners, naval architects, and marine and structural engineers.
In its energy division, LOC is a top three global provider of marine warranty surveys for the transport and installation of offshore capital equipment with customers comprising oil & gas majors, independents and national oil companies.
In shipping, LOC says it is the market leader in marine casualty consultancy for Protection and Indemnity (P&I) insurance clubs in high profile incidents and dispute cases with marine casualty response experts based throughout its global network.
LOC Group CEO Andrew Squire said:
“We very much welcome BDC as a new shareholder as they will be able to provide insight as we further professionalise our business, build market presence, especially in the emerging markets, and open new offices to expand our international capability.”