Merger Approved: Noble Denton, GL
The Norwegian cartel authority Konkurransetilsynet has approved the merger of Noble Denton with Germanischer Lloyd (GL). The two companies had announced their merger on 1 April 2009. Together, Germanischer Lloyd and Noble Denton will form a global technical assurance and consulting company to serve the oil and gas sector. The purchase of Noble Denton is the largest corporate acquisition in the history of Germanischer Lloyd. Germanischer Lloyd and Noble Denton will provide consulting, assurance as well as project management on a worldwide scale especially for the oil & gas and renewable energy sectors as well as for the maritime industry. The spectrum of services ranges from design and construction, transportation and installation.
Noble Denton joins GL Group
The merger of Noble Denton and Germanischer Lloyd forms an integrated technical assurance and consulting company to serve the worldwide energy industries. The new entity will provide assurance, inspection, and consulting as well as project management. It will focus its worldwide services along the entire life cycle oil and gas - upstream, midstream, and downstream, renewable and energy installations onshore and offshore. This includes safety, integrity, reliability and performance management. Germanischer Lloyd, headquartered in Hamburg, Germany, and Noble Denton, headquartered in London have followed similar growth strategies. Both organisations have conducted a number of acquisitions recently to complement their areas of expertise.
Noble Denton Honored
Noble Denton Group has joined an elite group of British businesses as it secured 59th place in this year’s Sunday Times Deloitte Buyout Track 100 list. Now in its second year, the prestigious league table ranks Britain’s top 100 private equity-backed mid-market companies with the fastest growing profits (EBITDA) over two years. The research analyses the profit performance of private equity-backed companies, rather than just the buyout deals. Noble Denton is one of 12 energy firms on the list and achieved 39.9% annual profit growth in 2006. The company joined forces with two Norwegian private equity firms, HitecVision and Ferncliff TIH in the same year.
