Norway’s ABL Group has entered into an agreement to acquire Proper Marine, a Brazilian naval architecture and engineering consultancy, with the aim of bolstering its design and engineering capabilities.
According to ABL Group, the acquired company will integrate with the Norwegian company’s existing design and engineering arm, Longitude. The acquisition of 100% of the shares is set to expand ABL’s technical expertise in maritime and offshore energy construction and operations while reinforcing its footprint in the Americas.
“We are delighted to welcome Proper Marine into ABL Group. This transaction will significantly increase our global expertise in design and engineering and enhance our local capacity to support the Americas. Proper Marine’s services are highly complementary to that of our own design house, Longitude, enabling us to bring design solutions to more clients and in more markets,” said Reuben Segal , CEO of ABL Group.
‘Furthermore, this transaction reflects ABL Group’s commitment to the Brazilian market, following the in-country growth of our marine and renewable energy branches ABL and OWC. Recognising the strategic significance of the country’s maritime and energy sectors, the expansion of local design capabilities was the logical next step, and we are thrilled to do this together with Proper Marine.
Proper Marine, founded in 2010, has established itself as a player in Brazil’s naval and offshore markets, executing projects in ten countries, including the USA, Senegal, Spain, and China, ABL Group noted. The company has a team of over 90 professionals with a portfolio of more than 1,600 projects.
“This move fully aligns with our founding mission – as part of ABL Group and together with Longitude, we have the opportunity to accelerate our goal of taking Brazilian engineering excellence to the world. By merging with Longitude, we are synergising two like-minded design houses, who are equally committed to fostering the best engineering and design talent in our sectors,” said Bernardo Xavier , Operations Director and Founder of Proper Marine.
The acquisition enhances ABL’s offerings in vessel design, asset integrity management and life extension, and marine and energy operations engineering. In addition to this, ABL noted that Proper Marine brings expertise in floating production storage and offloading (FPSO) vessels, enhancing the company’s overall capabilities in this segment.
Strategic rationale and future prospects
According to ABL Group, the integration is set to consolidate Proper Marine’s and Longitude’s teams, creating a stronger international design and engineering entity. ABL highlighted that the deal would unlock new opportunities for both Proper Marine and Longitude in larger design projects and FPSO-related activities.
“This deal will open opportunities for our team to gain greater exposure internationally, and in new areas, like in renewable energy development. It will better position us to play a key role in the development of Brazil’s great potential in wind energy, solar PV and hydrogen, whilst increasing our platform to market in North America,” said Hugo Jordão , Business Development Director of Proper Marine.
As part of Longitude, Proper Marine will also gain access to a library of over 100 vessel designs, enabling the company to expand its offerings in the vessel design segment and support Brazil’s energy transition goals.
“Together Proper Marine and Longitude will be able to expand our offering to bring value to more clients in the Americas, whilst unlocking new opportunities for staff development. Lastly, and importantly, the deal reflects our mutual commitment to growing in the important Brazilian market. I am certain that this will benefit current and new clients in both existing and new sectors,” added Jake Anderson , Managing Director of Longitude.
When it comes to ABL’s recent activities in Brazil, in February, the company was picked to act as a tow master to support and supervise the towage of a FPSO vessel from Yantai, China, to Brazilian waters. This FPSO will work on the third largest oil field in the Santos Basin off the coast of Brazil.
In November, ABL expanded into New Zealand with the aim of supporting the country’s maritime and offshore energy markets.