AqualisBraemar, an Oslo-listed group that offers consultancy services to the offshore energy industries has successfully completed the acquisition of 100 percent of the shares in LOC Group, an international marine and engineering consulting firm, thereby creating a leading global independent offshore energy and marine consultancy.
AqualisBraemar has acquired 100 percent of the shares in Neptune Midco 1 Limited from the ultimate parent company of the LOC Group, LOC Group Holdings Limited, the shareholders of which include pan-European investment group Bridgepoint and key employees of LOC (the “Transaction”).
The combined group is a leading global independent offshore energy and marine consultancy firm. It will have a total of 880 employees in 67 offices in 39 countries all over the world. By joining the fast-growing specialist renewable entities of AqualisBraemar’s offshore wind consultancy firm OWC and LOC Group’s Innosea and other renewable focused units, the combined group will double its size within renewables. The group’s strategy is to grow through continued expansion in the rapidly growing offshore renewables industry, and leverage on its position within shipping and oil and gas markets, to support the global energy transition.
PMSI provided VCDD on the deal and worked closely with LOCG.
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