Lloyds Register completes acquisition of Ocean Technologies Group
PRESS RELEASE, November 25th, 2024
Lloyd’s Register Group (LR), a global provider of maritime professional services and digital solutions, has completed the acquisition of Ocean Technologies Group (OTG), a leading trusted provider of human capital management and operational software dedicated to the global maritime industry, from European private equity firm Oakley Capital.
This follows the acquisition of OneOcean (OO) in 2022, and the purchase of a 50 per cent stake alongside the International Chamber of Shipping (ICS) in ISF Watchkeeper in 2023.
By combining with LR OneOcean and OTG, LR is now poised to deliver unparallelled value, enhanced safety and drive sustainable growth for clients and the sector as a whole.
OTG provides critical training, compliance, operational and HR software to more than 1,000 shipowners and operators and more than one million seafarers around the world. This acquisition means that LR will now be able to offer these solutions across a combined fleet of over 30,000 vessels across the globe.
Nick Brown, Chief Executive Officer of LR said:
“We are delighted to have completed the acquisition of Ocean Technologies Group. With OTG now part of LR and combined with LR OneOcean, we are uniquely positioned to lead the way in maritime digitalisation and decarbonisation as a trusted partner.
“Our combined expertise enhances our ability to meet the evolving needs of an industry in energy transition and to drive innovation.
“The merger allows us to offer an unmatched suite of digital solutions that integrate human capital management (HCM) and operational software.
“Clients will benefit from a one-stop solution, streamlining their operations and improving efficiency.”
Thomas Zanzinger, CEO of OTG said:
“Becoming a part of Lloyd’s Register rapidly expands 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.
“Our leadership team, drawn from LR OO and OTG is dedicated to ensuring a seamless integration process that prioritises client satisfaction and agile innovation.”
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