RINA, an Italy-based multinational engineering consultancy, inspection and certification group, has acquired the entire share capital of Foreship, a Finnish ship design and engineering company.
Foreship was acquired from Finnish private equity firm Vaaka Partners and the company’s managers.
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As explained, the acquisition marks a further expansion of RINA’s marine engineering consulting offering worldwide, while strengthening its presence in Northern Europe.
Foreship is headquartered in Helsinki and employs over 90 professionals across eight offices globally, including the USA, UK and Estonia. The company specializes in cruise ship design, energy-efficient vessel innovations, and sustainable marine technologies.
Foreship’s experience in naval architecture is said to offer “high synergies” within RINA Consulting and opportunities to increase market share in the maritime consultancy sector, particularly in complex retrofits, new fuel integrations, and digital transformation.
“It (Foreship) brings an exceptional track record and a depth of expertise in naval architecture that complements our own consulting engineering capabilities. Together, on a shared path of growth, we will deliver even greater value to the global shipping industry, advancing sustainability, digital innovation and ship lifecycle services,” Ugo Salerno , Executive Chairman of RINA, commented.
“This acquisition aligns with our strategic plan to become an increasingly essential reference point for our clients, supporting them with our broad-based knowledge. Foreship’s solid reputation and global customer base, including major cruise lines and shipping companies, make it a natural fit for our fast-growing marine consulting business,” Carlo Luzzatto , Chief Executive Officer and General Manager of RINA, noted.
“Joining forces with a global partner like RINA will accelerate our growth, expand our knowledge, and strengthen our client relationships, while continuing to foster the close collaboration we value,” Lauri Haavisto , Chief Executive Officer of Foreship, said.
In line with RINA’s governance and organizational model, Foreship operations will be part of RINA Consulting.
In other news, Foreship was recently contracted to support compatriot shipping company Wasaline in delivering a battery upgrade on MV Aurora Botnia that will see the ferry’s energy storage capacity increase nearly sixfold.
The ‘world-first’ retrofit of this kind will combine two battery chemistries in a hybrid solution that is expected to cut annual CO₂ emissions by up to 23%.
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about 1 year ago
RINA, an Italy-based multinational engineering consultancy, inspection and certification group, has acquired the entire share capital of Foreship, a Finnish ship design and engineering company.
