Lloyd’s Register Acquires Voyage Solutions Provider OneOcean
Lloyd’s Register (LR) has acquired OneOcean, a supplier of voyage compliance, safety and environmental solutions, from European mid-market private equity firm Equistone Partners Europe.
The addition of OneOcean will expand LR’s existing digital solutions portfolio, which already includes fleet management (Hanseaticsoft) and vessel performance and optimization (i4Insight, C-MAP Commercial and Greensteam).
OneOcean was created by the merger of ChartCo, in which Equistone first invested in 2016, and Marine Press in 2019. With Equistone’s support, OneOcean has changed and grown rapidly, with four acquisitions, two divestments, a merger and a complete cultural change from product distributor to software solutions provider. Its solutions are currently used by more than 16,000 vessels.
LR Group CEO Nick Brown said, “The acquisition of OneOcean propels LR to the position of a leading digital player in the maritime industry enabling clients to make better commercial day-to-day decisions, reducing risks, improving operation efficiencies and critically meeting complex maritime regulatory requirements. We recognize that there has never been a more pressing need for specialist maritime advisers to guide and support clients through the fundamental changes they face, helping to define the route to compliance, operational efficiency, sustainability and competitive agility. With this acquisition, LR will be an even more valuable partner to our clients.”
Martin Taylor, CEO of OneOcean said, “We are really looking forward to working with Nick and his team to create a catalyst for change in an industry that needs to adapt as rapidly as when coal replaced sails. OneOcean has grown phenomenally over the last 20 years to be a clear market leader, now joining the LR family provides a fantastic home for the next chapter of growth. Together we have the scale, reputation and expertise - combining both digital and advisory capabilities - to meet the challenges faced by the industry. This is an exciting move for OneOcean, LR and the wider maritime community.”
The deal is subject to regulatory clearance and is expected to be complete by the end of the summer.