Offshore consultancy business Aqualis and Braemar Shipping Services have reached an agreement which will see Aqualis acquire the adjusting, marine and offshore business lines of Braemar, representing the majority of Braemar Technical Services.
The combined company will be names AqualisBraemar, and Braemar will become the largest shareholder with 26%, potentially increasing to 33% based on business performance.
AqualisBraemar will have four main business lines: Adjusting, Marine, Offshore and Renewables. The company will be led by CEO David Wells, from Aqualis, and head office will be located in London.
Commenting on the deal, Wells said: “Aqualis and Braemar Technical Services are two of the leading marine consulting companies globally. By joining forces, we create a more sustainable business with 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.”
It is expected that the transaction will be completed by the end of June.