AqualisBraemar LOC to Acquire UK Ops of Ship Designer OSD-IMT from Damen
AqualisBraemar LOC, an energy and marine industry consultancy, has agreed to buy the UK operations of ship design and marine consultancy company OSD-IMT from the Dutch-based Damen Shipyards Group.
OSD-IMT is a specialist consultancy in ship design for new build, refit, and conversion projects. The company operates the renewables, maritime, defense, and offshore oil and gas sectors.
"Combining OSD-IMT's wide track record with ABL Group's own expertise in specialist ship design, marine consultancy and marine operations creates an end-to-end capability that allows us to support our clients throughout the lifecycle of their projects, from advisory through design to decommissioning,” says Jake Anderson, Group MD for Engineering Services at ABL Group and Managing Director of Longitude Engineering.
ABL Group is acquiring the UK operations of OSD-IMT, which has offices in Bideford, North Devon, and Dundee, Scotland, for an undisclosed cash amount from current owner Damen Shipyards Group. The UK operations of OSD-IMT generated revenues of EUR 1.4 million in 2020 and have 11 employees.
OSD-IMT will work with ABL Group company Longitude Engineering, which specialises in marine operations engineering and marine design, conversion and upgrade of specific vessel types that complement OSD-IMT’s portfolio.
According to a press release issued Thursday, more than 150 OSD-IMT designed ships have been launched to date. The portfolio also includes designs of zero-emission ships powered by battery, hydrogen, and methanol power systems.
"OSD IMT’s project portfolio compliments Longitude’s growing track-record in the design and development of clean shipping technology, with experience in hybrid-propulsion, LNG and hydrogen fuelled-vessels. A key strategic objective for the acquisition is therefore to utilise both combined experience from zero-emission and high-efficiency ship design to assist clients on their energy transition journey," AqualisBraemar LOC said.
“This acquisition verifies our group commitment to drive the energy transition across all our market sectors. An example being that vessels are an indisputable and vital part of the value chain across the complete lifecycle of an offshore project or asset. Their carbon footprint impacts the sustainability of all projects no matter the sector. Furthermore, innovating ship design solutions is more important than ever when you consider the huge demand for construction vessels in emerging markets for offshore wind,” adds Anderson.
The acquisition is projected to be completed by the end of November 2021.