The energy and marine consultancy AqualisBraemar LOC Group (ABL Group) has entered into an agreement to acquire the UK operations of ship design and marine consultancy company OSD-IMT from Damen Shipyards Group.
OSD-IMT is a specialist consultancy in ship design for newbuild, refit and conversion projects. The company operates in all key marine markets – including the renewables, maritime, defence and oil and gas sectors. Its expert knowledge covers a broad selection of vessel types and a wide range of technologies, including design and engineering for alternative fuels.
“Combining OSD-IMT’s wide track record with ABL Group’s own expertise in specialist ship design, marine consultancy and marine operations creates an end-to-end capability that allows us to support our clients throughout the lifecycle of their projects, from advisory through design to decommissioning,” says Jake Anderson, Group MD for Engineering Services at ABL Group and Managing Director of Longitude Engineering.
ABL Group is acquiring the UK operations of OSD-IMT, which has offices in Bideford, North Devon, and Dundee, Scotland, for an undisclosed cash amount from current owner Damen Shipyards Group. The UK operations of OSD-IMT generated revenues of EUR 1.4 million in 2020 and has 11 employees.
OSD-IMT will work closely with ABL Group company Longitude Engineering, which specialises in marine operations engineering and marine design, conversion and upgrade of specific vessel types that complement OSD-IMT’s portfolio.
“Longitude’s legacy is rooted in naval architecture and structural engineering for marine asset design and conversion. The combination with a leader in the field such as OSD-IMT, will ensure we remain highly specialised and at the cutting edge of innovation at a time when the spotlight is on decarbonisation of the maritime industry,” adds Jake Anderson.
To date, more than 150 OSD-IMT designed ships have been launched, providing clients with a huge portfolio of historical and current of designs, which demonstrate the company’s world class expertise. This portfolio includes designs of zero-emission ships powered by the latest technology of battery, hydrogen and methanol power systems.
“I am very pleased that Longitude Engineering recognized the value of the skills of the people at OSD-IMT, of the portfolio and the brand”, says Rik van Prooijen, managing director of the Damen Maritime Ventures division. “I am certain that OSD-IMT can look forward to a bright future under their wings. Furthermore, there are future collaboration opportunities between Damen and Longitude as both companies are active in different segments of the marine market”.
The sale of OSD-IMT’s UK business is in line with Damen’s strategic direction to focus on core business. The seven colleagues working for the Dutch component of OSD-IMT in Hoofddorp will be integrated into the Workboats division of Damen.
OSD IMT’s project portfolio compliments Longitude’s growing track-record in the design and development of clean shipping technology, with experience in hybrid-propulsion, LNG and hydrogen fuelled-vessels.
A key strategic objective for the acquisition is therefore to utilise both combined experience from zero-emission and high-efficiency ship design to assist clients on their energy transition journey.
“This acquisition verifies our group commitment to drive the energy transition across all our market sectors. An example being that vessels are an indisputable and vital part of the value chain across the complete lifecycle of an offshore project or asset. Their carbon footprint impacts the sustainability of all projects no matter the sector. Furthermore, innovating ship design solutions is more important than ever when you consider the huge demand for construction vessels in emerging markets for offshore wind,” adds Jake Anderson.
The acquisition is projected to be completed by the end of November 2021.
Longitude Engineering specialises in independent engineering, design and analysis for renewables, maritime, defence, oil and gas and infrastructure market sectors. It primarily supports clients with marine operations engineering and marine design, conversion and upgrade, supporting marine projects and assets throughout their development lifecycle.