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Offshore Wind Journal

Aqualis and Braemar Technical Services to join forces

Tue 14 May 2019 by David Foxwell

Aqualis and Braemar Technical Services to join forces
David Wells: “by joining forces, we create a more sustainable business with strong platform for international growth”

Aqualis ASA, the parent of Offshore Wind Consultants and Aqualis Offshore, has entered into an agreement to acquire the marine, adjusting, and offshore business lines from Braemar Shipping Services Plc.

The combined company, to be renamed AqualisBraemar ASA, will provide a broad range of services to the offshore wind, offshore oil and gas and marine sectors.

Offshore Wind Consultants will continue to operate and trade under its current brand name.

Aqualis ASA chief executive David Wells said, “Through this transaction, existing and potential clients of Offshore Wind Consultants, Aqualis Offshore and Braemar Technical Services will be able to benefit from gaining access to new capabilities and a broader suite of services on offer as well as increased manpower and geographical footprint to enable quicker and more cost-efficient operational support at or in close proximity to our clients’ offices and assets.

“By joining forces, we create a more sustainable business with a strong platform for international growth. We will be better able to support our clients’ growth by offering our joint and enhanced leading expertise. With our larger scale, more resources and our engaged and talented people, we will improve our ability to meet our clients’ needs globally.”

Offshore Wind Consultants is an independent technical consultancy focused on the development and realisation of offshore renewables technology and projects. Since 2011 the company has delivered assignments amounting to 28 GW of experience across Europe, Asia and the US. The company supports developers, investors and lenders in developing their offshore renewables projects. Braemar Technical Services operates in the marine and adjusting segments and has a strong presence in the offshore oil and gas segment but only a limited presence in offshore renewables.

The two companies, plus Offshore Wind Consultants’ sister company Aqualis Offshore, have a highly complementary geographical footprint, with offices all over the world.

The combined company’s head office will be in London, UK. Mr Wells will continue as chief executive of the group.

The combined company will be divided into four divisions, each with a strong presence in their respective markets: renewables, offshore, marine and adjusting. It will have more than 430 full-time equivalent employees globally. The combined company’s revenue for the 12 months ended 31 December 2018 was approximately US$76M, with Aqualis ASA companies Aqualis Offshore and Offshore Wind Consultants representing approximately US$36M and Braemar Technical Services representing approximately US$40M.

 

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