Offshore staff
LONDON – Lloyd’s Register Group (LR) has agreed to sell its Energy business unit to Inspirit Capital, a London-based investment firm.
The transaction, expected to be completed by the end of this month, will create a new engineering and technical consultancy offering asset performance, risk management and project management support, including for the energy transition.
LR’s CEO Alastair Marsh said: “We reached the decision that this transaction is the best option to realize the long-term growth potential of our Energy business…. The LR Group remains committed to the energy sector, continuing to support our clients through our offshore compliance, digital products and inspection services businesses, in collaboration with our former LR Energy colleagues where appropriate.”
According to a spokesperson, LR’s Marine & Offshore business will also continue to offer offshore services and clean energy solutions: “Despite current conditions the offshore market remains an important part of our core business with potential for growth as it recovers and evolves.
“We will also continue to partner closely with the new Energy business on existing and future projects, maintaining the strong links we have established across the world.”
David Clark, LR’s Energy Director, who will lead the new company, said: “The increasing complexity we are seeing, with the transition and restructuring of the energy markets and the impact of digital transformation across our global energy, complex industrial and transport customers, means our solutions are more relevant than ever. We look forward to working with the Inspirit team to deliver on our ambitions.”
10/07/2020
