COPENHAGEN, Denmark — Maersk has completed the acquisition of ResQ for its subsidiary Maersk Training on July 5.
On June 17, Maersk announced its intention to acquire ResQ, a supplier of services and expertise in safety training and emergency preparedness in Norway. The transaction was subject to regulatory review and approval, which now has been obtained.
Maersk Training and ResQ have a close relationship with ResQ being the largest third-party service provider for Maersk Training in Norway. Since 2019, ResQ has been a subcontractor of Maersk Training delivering services to support the Maersk Training’s global training management contracts.
The acquisition of ResQ provides a platform that will allow Maersk Training to service the offshore renewables industry in the North Sea and significantly increase its presence in Norway as well as further build its portfolio of training courses.
The enterprise value of the transaction on a post IFRS 16 basis is approximately US$26 million (pre-IFS16 enterprise value of c. US$14 million) reflecting a pre-synergy EBITDA multiple of 5.3x based on adjusted 2021 EBITDA.