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    AQUA   NO0010715394


Real-time Quote. Real-time Oslo Bors - 01/21 10:05:50 am
10.75 NOK   -1.83%
01/20AQUALISBRAEMAR LOC : Energy Storage Specialist Joins ABL Onshore Renewables
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01/17MEET THE TEAM : Charlotte Dodge
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

AqualisBraemar LOC to acquire ship design experts OSD-IMT

11/11/2021 | 03:13am EST
11 November 2021 - 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

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.


For further media information, please contact:
Investors and financial media:
Haakon Brandrud, Director of Strategy and Corporate Development 
Tel: +47 95 07 05 12

Other media enquiries:
Endre Aaberg Johansen 
Tel: +47 41 61 06 05
Email: endre.johansen@corpcom.no 

About AqualisBraemar LOC ASAAqualisBraemar LOC ASA (OSE: Aqua) offers independent energy and marine
consultancy to the global renewables, maritime and oil and gas sectors. The
group has offices in 39 countries worldwide. AqualisBraemar LOC ASA operates
under seven brands: AqualisBraemar LOC, OWC, Innosea, Longitude, JLA, East Point
Geo and ABL Yachts. 

About Damen Shipyards Group
Damen Shipyards Group has been in operation for over ninety years and offers
maritime solutions worldwide, through design, shipbuilding, ship repair and
related services. Damen operates 36 shipyards in 18 countries and offers direct
employment to more than 13,000 people.
Damen's values are fellowship, craftsmanship, entrepreneurship and stewardship.
The company aims to be the most sustainable shipbuilder in the world, via
digitalisation and standardisation of its products. Damen's main activities are
the design and serial construction of innovative ships by integrating diverse
components and subsystems into high-quality platforms. These activities are
supported by a worldwide sales and service network.
Damen is also active in the repair and conversion of existing ships and the sale
and production of components for the maritime industry.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials (USD)
Sales 2021 154 M - -
Net income 2021 4,65 M - -
Net cash 2021 10,0 M - -
P/E ratio 2021 25,2x
Yield 2021 4,84%
Capitalization 117 M 117 M -
EV / Sales 2021 0,69x
EV / Sales 2022 0,55x
Nbr of Employees 922
Free-Float 48,5%
Duration : Period :
AqualisBraemar LOC ASA Technical Analysis Chart | AQUA | NO0010715394 | MarketScreener
Technical analysis trends AQUALISBRAEMAR LOC ASA
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 1
Last Close Price 1,21 $
Average target price 1,68 $
Spread / Average Target 39,2%
EPS Revisions
Managers and Directors
John David Peter Wells Chief Executive Officer
Dean Zuzic Chief Financial Officer
Glen Ole R°dland Chairman
Bader Diab Director-Engineering & North America
Reuben Segal Chief Operating Officer & Director-Middle East