Lloyds Register Completes Acquisition of Ocean Technologies Group
Deal News | Nov 25, 2024 | EIN
Lloyds Register Group, a global leader in maritime professional services and digital solutions, has completed the acquisition of Ocean Technologies Group (OTG) from European private equity firm Oakley Capital. This acquisition is part of Lloyds Register's strategy to lead in maritime digitalization and decarbonisation. Previously, Lloyds Register acquired OneOcean in 2022 and a significant stake in ISF Watchkeeper in 2023. OTG provides essential training, compliance, and operational software to over 1,000 shipowners and more than one million seafarers worldwide. By integrating OTG with its existing portfolio, Lloyds Register aims to offer enhanced safety, efficiency, and sustainable growth to its clients across a global fleet of over 30,000 vessels. The acquisition positions Lloyds Register as a trusted partner in the maritime industry's energy transition.
Sectors
- Maritime Industry
- Digital Solutions and Software
- Private Equity
Geography
- United Kingdom – The article takes place primarily in the UK, where Lloyds Register, a key participant, is headquartered.
- Europe – Oakley Capital, the private equity firm selling OTG, is based in Europe.
- Global – Lloyds Register and OTG serve a global market, impacting over 30,000 vessels worldwide.
Industry
- Maritime Industry – This sector encompasses activities related to the transportation of goods and people via waterways and oceans, including technology and services aiding its operation.
- Digital Solutions and Software – This industry involves creating and managing digital platforms and software solutions, crucial for providers offering operational and human capital management services in the maritime sector.
- Private Equity – Private equity firms are involved in making investments in companies, as Oakley Capital did with Ocean Technologies Group before its acquisition by Lloyds Register.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lloyds Register Group | Bidding Company/Acquirer | Company | A global provider of maritime professional services and digital solutions. |
| Ocean Technologies Group | Target Company | Company | A provider of human capital management and operational software for the maritime industry. |
| Oakley Capital | Selling Company/Vendor | Company | A European private equity firm. |
| OneOcean | Other Company | Company | A company recently acquired by Lloyds Register, integrated with OTG. |
| International Chamber of Shipping | Other Company | Company | Partnered with Lloyds Register in the acquisition of a stake in ISF Watchkeeper. |
| ISF Watchkeeper | Other Company | Company | Company in which Lloyd's Register holds a 50% stake, in collaboration with the ICS. |