ABL Group has entered into an agreement to acquire Brazil-based naval architecture and engineering consultancy Proper Marine, increasing its expertise in floating production storage and offloading (FPSO) sector.
Proper Marine will be merged with ABL’s design and engineering arm Longitude.
The company will expand ABL’s design and engineering capabilities with a team of over 90 professionals and a track-record of more than 1,600 projects.
The acquisition will strengthen ABL Group’s offering in both Brazil and the wider Americas within vessel design and conversion, asset integrity management and life extension, and marine and energy operations engineering.
In addition to this, Proper Marine brings significant expertise in floating production storage and offloading (FPSO) vessels, enhancing the ABL’s overall capabilities in this segment.
According to the company, the integration of Proper Marine and Longitude will enhance their exposure to larger design projects and the FPSO sector.
In addition, being part of Longitude will support Proper Marine in transitioning some of its expertise to increasingly support renewable energy and energy transition design and engineering.
“This transaction will significantly increase our global expertise in design and engineering and enhance our local capacity to support the Americas. Proper Marine’s services are highly complementary to that of our own design house, Longitude, enabling us to bring design solutions to more clients and in more markets,” said Reuben Segal, CEO of ABL Group.
“This deal will open opportunities for our team to gain greater exposure internationally, and in new areas, like in renewable energy development. It will better position us to play a key role in the development of Brazil’s great potential in wind energy, solar PV and hydrogen, whilst increasing our platform to market in North America,” added Hugo Jordão, Business Development Director of Proper Marine.