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Lloyd’s Register to acquire OneOcean

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Classification Society Lloyd’s Register (LR) has acquired voyage optimisation and compliance company OneOcean from its private equity owners.

Completion is expected at the end of summer pending regulatory approval, the deal was made for an undisclosed sum.

LR said the acquisition from Equistone Partners Europe builds on its existing digital capabilities, with fleet mangement from Hanseaticsoft, and performance and optimisation form i4Insight, C-MAP Commercial and Greensteam. OneOcean is itself the product of a merger between ChartCo and Marine Press, with four acquisitions and two divestments along the way.

OneOcean said some 16,000 vessels currently use its solutions, which cover compliance support and optimisation, reducing barriers between ship and shore, increasing transparency and simplifying complex regulations and tasks to enable teams to work more transparently and efficiently.

LR Group CEO Nick Brown 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. 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.”

Martin Taylor, CEO of OneOcean said: “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.”

Tim Swales, Partner at 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. 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.

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