Goldman Sachs buys Lloyd’s Register’s quality assurance business

UK class society Lloyd’s Register (LR) has sold its business assurance and inspection services division, including cyber-security business Nettitude, to Goldman Sachs Asset Management for an unspecified price. The deal is expected to complete during the second half of 2021 with LR saying today it aims to focus much more on its core maritime business.

Nick Brown, chief executive of LR, said: “We believe this will unlock significant growth potential for both companies. For Lloyd’s Register, it comes at a time when there is a pressing need for specialist maritime advisers to guide clients through fundamental change and to help support their digitalisation and decarbonisation ambitions.”

Under its new ownership, Lloyd’s Register’s Business Assurance & Inspection Services division will adopt the brand name LRQA.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button