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November 12, 2021updated 17 Nov 2021 6:16am

ABL Group to buy OSD-IMT UK operations from Damen

OSD-IMT’s operations in the UK reported revenues of nearly $1.6m in 2020.

Damen Shipyards Group has agreed to sell the UK operations of ship design and marine consultancy firm OSD-IMT to marine consultancy AqualisBraemar LOC Group (ABL Group).

OSD-IMT’s UK business includes offices in Dundee, Scotland, and Bideford, North Devon.

The deal, whose financial terms were not shared, is expected to close by the end of this month.

Last year, OSD-IMT’s operations in the UK reported $1.6m (€1.4m) in revenues.

OSD-IMT will now operate alongside Longitude Engineering, an ABL Group unit that focuses on marine operations engineering and marine design, alterations and upgrades for specific ship types.

As of now, OSD-IMT has introduced more than 150 ship designs, with its portfolio including designs for zero-emission vessels driven by the newest technologies for hydrogen, battery and methanol power systems.

This transaction aligns with Damen’s strategy to prioritise its core business.

In a statement, Damen said: “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.”

ABL Group engineering services group managing director and Longitude Engineering managing director Jake Anderson said: “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.”

Last month, Damen delivered Optimus, the first of its new class of liquified gas carrier 6000 liquefied natural gas bunkering vessels, to Elenger.

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