AqualisBraemar LOC Acquires OSD-IMT's UK Ops
Energy and marine consultancy AqualisBraemar LOC Group has 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 new build, refit, and conversion projects. The company operates the renewables, maritime, defense, and offshore oil and gas sectors.
In particular, the company specializes in newbuild construction, support, and supply vessels for the offshore energy industry, dredger and dredging support vessels, and marine survey vessels.
The deal was first announced in October when it was shared that ABL Group would acquire 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, which has launched more than 150 designs to date, will become part of ABL Group company Longitude Engineering, which specializes in marine operations engineering and marine design, conversion, and upgrade of specialized 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," AqualisBraemar LOC Group said.
“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 has 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 decarbonization 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 specializes in independent engineering, design, and analysis for renewables, maritime, defense, oil and gas, and infrastructure market sectors.