Lloyd’s Register (LR), a global provider of maritime professional services, has acquired OneOcean, a renowned supplier of voyage compliance, safety and environmental solutions, from Equistone Partners Europe (Equistone), a renowned European mid-market private equity firm.
The move will accelerate Lloyd Register’s ambitions to be the maritime industry’s trusted adviser for compliance, safety, performance and sustainability solutions, enabling clients to benefit from more efficient, cleaner & safer operations.
Lloyd’s Register acquires OneOcean
The pedigree of OneOcean will expand and considerably complement Lloyd’s Register’s existing digital solutions
The pedigree of OneOcean will expand and considerably complement Lloyd’s Register’s existing digital solutions, including fleet management (Hanseaticsoft) and vessel performance and optimisation (i4 Insight, C-MAP Commercial and Greensteam) portfolios.
OneOcean solutions are currently used by more than 16,000 vessels, to support and optimise compliance, safety and environment, increasing transparency and simplifying complex regulations and tasks to enable teams to work more transparently for efficiency and enhanced decision-making.
OneOcean
OneOcean was created by the merger of ChartCo, in which Equistone first invested in 2016, and Marine Press in 2019. With Equistone’s support, OneOcean has changed and grown rapidly, with four acquisitions, two divestments, a merger and a complete cultural change from product distributor to leading-edge software solutions provider.
Nick Brown, the Chief Executive Officer (CEO) of Lloyd’s Register, said “The acquisition of OneOcean propels LR to the position of a leading digital player in the maritime industry enabling clients to make better commercial day-to-day decisions, reducing risks, improving operation efficiencies and critically meeting complex maritime regulatory requirements.”
Specialist maritime advisers to guide clients
Nick Brown adds, “We recognise that there has never been a more pressing need for specialist maritime advisers, to guide and support clients through the fundamental changes they face, helping to define the route to compliance, operational efficiency, sustainability and competitive agility. With this acquisition, LR will be an even more valuable partner to our clients.”
Martin Taylor, the Chief Executive Officer (CEO) of OneOcean, said “We are really looking forward to working with Nick and his team, to create a catalyst for change in an industry that needs to adapt, as rapidly as when coal replaced sails.”
Combining digital and advisory capabilities
OneOcean has grown phenomenally over the last 20 years to be a clear market leader"
Martin Taylor adds, “OneOcean has grown phenomenally over the last 20 years to be a clear market leader, now joining the LR family provides a fantastic home for the next chapter of growth. Together, we have the scale, reputation and expertise – combining both digital and advisory capabilities – to meet the challenges faced by the industry. This is an exciting move for OneOcean, LR and the wider maritime community.”
Tim Swales, the Partner at Equistone Partners Europe (Equistone), said “This business has undergone remarkable transformation and growth over the past six years, since we first invested in ChartCo and then supported the formation of OneOcean, through the merger with Marine Press.”
Supporting the marine industry’s shift to digital solutions
Tim Swales adds, “Martin and his team have built a high-quality business that is in the vanguard of the marine industry’s shift towards digital solutions, and it has been a pleasure to work with them. In Lloyd’s Register we are confident we have found the right partner to support OneOcean through this next stage of its growth.”
The deal is subject to regulatory clearance and is expected to be complete by the end of the summer.