ABL Group (OSE: ABL Group ASA – ticker code “ABL”) is a leading independent global consultancy delivering energy, marine, engineering and digital solutions to drive safety and sustainability in renewables, maritime and oil & gas sectors. The group has offices in 39 countries worldwide and operates under four brands: ABL, OWC, Longitude and AGR.
ABL Group to acquire water management experts Hidromod
Energy and marine consultancy ABL Group has entered into an agreement to acquire 100 percent of the shares of Hidromod – Portugal’s leading consultancy in water management solutions and numerical modelling.
Through this acquisition, ABL Group expands its service offering to water management consultancy to support offshore, coastal and inland assets and projects, including with Hidromod’s proprietary subscription-based software AquaSafe. The deal will also enhance existing offerings in ports and harbours consultancy and in climate change risk assessment and adaptation.
“We are excited to welcome Hidromod as part of ABL Group. Water is fundamental to our planet’s sustainability, both in terms of its essential properties to life and in the risks it poses to infrastructure and communities as climate change effects take hold. Hidromod provides vital and innovative solutions that will bring considerable value to the clients and markets we serve, whilst opening the door to drive sustainability in new sectors.”
Reuben Segal, ABL Group CEO
About Hidromod
Established in 1992, Hidromod specialises in numerical modelling and digital twin solutions to simulate and predict the behaviour of coastal systems, estuaries, catchments and other water bodies. By leveraging its data-science skills, the company provides real-time insights and advanced forecasting, enabling a comprehensive understanding of past, present and future conditions. The company is based in Lisbon and has 16 employees, including five PhDs, and delivered a revenue of approximately EUR 1 million in 2023.
Its solutions are applied to provide accurate evaluations of specific scenarios and improve efficiency in ports and harbours, offshore aquaculture and renewable energy, inland water management covering river engineering and agricultural projects.
Hidromod’s software solution, AquaSafe, is a digital decision support system, designed to process mass datasets and output clear and easy-to-use analyses regarding water behaviours in a particular location or relevant to a project.
Expansion strategy
The acquisition represents an opportunity to globalise and expand Hidromod’s unique expertise and services, leveraging ABL Group’s expansive global footprint and multi-disciplined teams.
Further, Hidromod’s AquaSafe, has significant potential for application across a wider cross-section of industries and to more markets, which ABL Group can provide the entry point for.
The acquisition of Hidromod also represents an opportunity to expand ABL Group’s operations in Portugal, including provision of its marine and renewable energy consultancy to support the local market, leveraging Hidromod’s established market presence and reputation.
The parties have not disclosed the financial details of the transaction, which is expected to be completed in October 2024.
ABL Group ASA is listed on Oslo stock exchange.
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