Lloyd’s Register acquires maritime training company
Lloyd’s Register has reached an agreement to acquire maritime training provider Ocean Technologies Group from Oakley Capital to expand its growing services into seafarer training, assessment and career development.
UK-based Lloyd’s Register, a global provider of maritime professional services and digital solutions, is purchasing the vessel management and crew training software provider in a bid to become a leading provider of digital solutions for the maritime industry.
Nick Brown, Lloyd’s Register’s CEO, said:
“This is a transformative acquisition for Lloyd’s Register and our clients and reinforces our focus on maritime. For over 260 years we have provided trusted advice on the safety and performance of assets and vessels.”
Ocean Technologies Group’s Maritime Training Services deliver a range of customised and off-the-shelf learning supplying the global maritime industry. Using a variety of learning options, from classroom-based to online sessions, it provides critical training, compliance, operational and HR software to over 1,000 shipowners and operators worldwide.
Ocean Technologies Group’s CEO Thomas Zanzinger commented:
“Becoming a part of Lloyd’s Register is a great opportunity to further extend our global leadership in maritime, which we have built with the support of Oakley.
“It allows us to rapidly expand our capabilities within an organisation that aligns perfectly with our mission, vision and values as we support our industry towards a digital and sustainable future.
“Key to that future is the ability to unlock the potential of our people through investing in human capital management and harnessing technological innovation across vessel operations. I am truly excited to unlock the potential of what this combination of our highly trusted brands can achieve together for our clients.”
Peter Dubens, Oakley Capital Co-Founder and Managing Partner, said:
“In partnership with Thomas and his team, we have helped to transform OTG from a single product solution into a diversified, best-in-class platform and partner to the shipping industry, and a small but critical enabler for sea transport and trade. We look forward to seeing OTG’s continuing growth now as part of Lloyd’s Register.”
Once the acquisition is complete, subject to obtaining customary regulatory approvals and expected in Q4 2024, Lloyd’s Register will combine Ocean Technologies Group with its digital business LR OneOcean to create one of the largest software platforms in maritime, delivering enhanced digital solutions to shipping companies.
The acquisition will enable Lloyd’s Register to provide a complete end-to-end energy transition solution for clients, from advisory and feasibility studies on alternative fuels, to training seafarers on handling and using those fuels. This is in line with the International Maritime Organisation’s revised Greenhouse Gas strategy to include a common ambition to reach net-zero GHG emissions from international shipping by or around 2050.
Lloyd’s Register previously acquired OneOcean in 2022 and the purchase of a 50% stake alongside the International Chamber of Shipping (ICS) in ISF Watchkeeper in 2023.
Brown concluded:
“The purchase of OneOcean in 2022 gave us the digital capability to support and optimise the safe and compliant operations of vessels. Now, with the acquisition of OTG, we will be able to provide a strategic approach to attracting, developing, managing and retaining maritime professionals at sea and ashore.”
“It also complements perfectly the acquisition of the stake in ISF Watchkeeper, allowing us to advise owners and operators when to deploy training at the most optimum time for competency development onboard.”