Damen Shipyards Group sells the UK operations of ship design and marine consultancy company OSD-IMT to the energy and marine consultancy AqualisBraemar LOC Group. OSD-IMT is a specialist consultancy in ship design for newbuild, refit and conversion projects.
AqualisBraemar LOC Group (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 eleven employees. 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. To date, more than 150 OSD-IMT designed ships have been launched. This portfolio includes designs of zero-emission ships powered by the latest technology of battery, hydrogen and methanol power systems.
Also read: Damen cuts hundreds of jobs due to pandemic
OSD-IMT to combine with Longitude
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. OSD IMT’s project portfolio is felt to complement Longitude’s 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,’ says Jake Anderson, Group MD for Engineering Services at AqualisBraemar LOC Group (ABL Group) and Managing Director of Longitude Engineering.
Dutch colleagues to Workboats division
Damen on the other hand, says the sale is in line with its strategic direction to focus on its core business. The seven colleagues working for the Dutch component of OSD-IMT in Hoofddorp will be integrated into the company’s Workboats division. Damen does see future collaboration opportunities between Damen and Longitude as both companies are active in different segments of the marine market.
The Dutch shipyard suffered a bad year in 2020 and already had to cut hundreds of jobs and in September it divested its hoisting business.
The acquisition is projected to be completed by the end of November 2021.
Also read: Damen Shipyards divests its hoisting business
Picture: Methanol wind farm SOV design by OSD-IMT.
