Energy and marine consultancy AqualisBraemar LOC will acquire the UK operations of ship design and marine consultancy company OSD-IMT from Damen shipyards.
OSD-IMT is a specialist consultancy in ship design for newbuild, refit, and conversion ships. Its expertise covers a broad selection of vessel types and a wide range of technologies. It also covers design and engineering for alternative fuels.
To date, OSD-IMT launched more than 150 designed ships. This portfolio includes designs of zero-emission ships powered by the latest technology of battery, hydrogen, and methanol power systems.
ABL Group is acquiring the UK operations of OSD-IMT for an undisclosed cash amount from current owner Damen Shipyards Group. The UK operations of OSD-IMT generated revenues of EUR 1.4 million ($1.6 million) in 2020.
Additionally, OSD-IMT will work with ABL Group company Longitude Engineering, which specialises in marine design and conversion of specific vessel types.
OSD IMT’s project portfolio compliments Longitude’s experience in developing clean shipping technology, with experience in hybrid-propulsion, LNG , and hydrogen fuelled-vessels.
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AqualisBraemar LOC enacting long-term succession plan for CEO role Business & Finance Therefore, a key strategic objective for the acquisition is to use combined experience from zero-emission and high-efficiency ship design to assist clients on their energy transition journey.
Thus, this acquisition verifies AqualisBraemar LOC’s commitment to driving the energy transition across all our market sectors.
The acquisition will wrap up by the end of November 2021.