AqualisBraemar has entered into an agreement to acquire 100 percent of the shares in LOC Group.
AqualisBraemar offers consultancy services to the offshore energy industries, including renewables and oil and gas, plus shipping and insurance industries.
LOC operates in the shipping, oil and gas, and renewables sectors, providing loss prevention and loss management services, as well as marine and engineering consultancy services.
The acquisition of LOC Group will help the company in creating a leading global independent offshore energy and marine consultancy.
“Our strategy is clear; we want to grow through continued expansion in the rapidly growing offshore renewables industry, and leverage on our position within shipping and oil and gas markets, to support this energy transition. LOC Group, with its strong and highly complementary footprint within the same industries, is a perfect fit for this strategy and will support our ambition of consistently returning capital to our shareholders.”