Aqualis completes acquisition of Braemar Technical Services
From Worldoil.com
OSLO — Aqualis ASA, the parent of marine and offshore engineering consultancy Aqualis Offshore, has today successfully fulfilled all conditions related to its agreement to acquire the offshore, adjusting and marine consultancy business from Braemar Shipping Services Plc.
Through this transaction, clients of the now renamed AqualisBraemar will benefit from access to new capabilities, broader suite of services, a bigger workforce and increased geographical footprint to enable even quicker operational support at or in close proximity to their offices and assets.
“I have looked forward to this day. Combining our companies gives us greater critical mass within the energy, insurance and shipping markets and means we will be much better positioned going forward. With our larger scale, increased resources and our talented people, our ability to meet our clients’ needs is vastly improved. Our ambition is to meet the increasing expectations of our industry globally and to be recognized as the ’go to’ consultant of the energy, marine and insurance markets. The work for ensuring a successful integration begins now,” said David Wells, CEO of AqualisBraemar.
AqualisBraemar is a leading offshore, adjusting, marine and renewables consultancy group with a broadened service offering across all major basins. The group is now represented with 48 offices in 33 countries, with more than 430 full-time equivalent employees globally and a physical presence on all five continents. Its head office is in London, UK.
“We are looking forward to welcoming our highly skilled new colleagues. Together we will work for a fast and smooth integration of people, cultures, services and innovative work,” said COO Reuben Segal.
Following the completion of the transaction, Braemar will be the largest shareholder in AqualisBraemar with an initial shareholding of approximately 26%, potentially increasing to 33% depending on business performance.
