LR buys OneOcean

June 22, 2022 Maritime Safety News

Classification society Lloyd’s Register (LR) has announced the acquisition of OneOcean, a supplier of voyage compliance, safety and environmental software, from private equity firm Equistone Partners Europe.

The move will expand LR’s existing range of digital services built up though significant previous acquisitions and investments in recent years, including fleet management software firm Hanseaticsoft, vessel performance and optimisation application developer i4 Insight, as well as its C-MAP Commercial and Greensteam group companies.

OneOcean itself was created by the merger of ChartCo, in which Equistone first invested in 2016, and Marine Press in 2019. During this Equistone period the firm has been involved in four acquisitions, two divestments, a merger and a change from product distributor to software provider, currently serving some 16,000 vessels.

“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,” said LR Group CEO Nick Brown.

“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.”

The deal is subject to regulatory clearance and is expected to be completed by the end of the summer.