London-based energy and marine consultancy AqualisBraemar LOC (ABL) has completed the acquisition of the UK operations of ship design and marine consultancy company OSD-IMT from Damen Shipyard.
ABL Group bought the UK operations of OSD-IMT for an undisclosed cash amount from the previous owner Damen. The UK operations of OSD-IMT generated revenues of EUR 1.4 million ($1.6 million) in 2020.
OSD-IMT is a specialist consultancy in ship design for newbuild, refit, and conversion projects. The company operates in all key marine markets; the renewables, maritime, defence, and oil and gas sectors.
The consultancy has launched more than 150 designs to date. This portfolio also includes designs of zero-emission ships.
With this acquisition, it will now become part of AqualisBraemar LOC Group company Longitude Engineering . This company specialises in marine operations engineering and marine design, conversion, and upgrade of specialised vessels. Furthermore, Longitude has a track record in the design of clean shipping technology, with expertise in hybrid-propulsion, LNG , and hydrogen fuelled-vessels.
“Our plan is to combine OSD-IMT’s ship design track record with Longitude’s specialist expertise in marine design, consultancy, and operations. While OSD-IMT has traditionally focused more on newbuild ship design, Longitude’s legacy is rooted in specialist consultancy services including advanced analysis, hybrid power systems, and procurement support. The combination is an excellent match,” says Jake Anderson , managing director of Longitude.
“With maritime decarbonisation accelerating into focus, bringing together OSD-IMT and Longitude’s portfolios in alternative fuel-powered vessel design, will significantly reinforce our offering to support a wide range of maritime stakeholders on the path to net-zero,” added Dean Goves , managing director maritime.
Moreover, this acquisition verifies the commitment of AqualisBraemar LOC to driving the energy transition across all our market sectors.