ABL Group to acquire Brazilian engineering and design company Proper Marine
ABL Group has entered into an agreement to acquire 100 percent of the shares in Brazil-based naval architecture and engineering consultancy, Proper Marine, which will be merged with ABL Group’s design and engineering arm, Longitude.
The acquisition will expand the Group’s technical centre of excellence in design and engineering for maritime and offshore energy construction and operations.
“We are delighted to welcome Proper Marine into ABL Group. 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. Furthermore, this transaction reflects ABL Group’s commitment to the Brazilian market, following the in-country growth of our marine and renewable energy branches ABL and OWC. Recognising the strategic significance of the country’s maritime and energy sectors, the expansion of local design capabilities was the logical next step, and we are thrilled to do this together with Proper Marine.”
Reuben Segal, CEO of ABL Group
ABOUT PROPER MARINE
Proper Marine was founded in 2010 with a vision to bring Brazil’s engineering excellence to support naval and offshore markets globally. In addition to Brazil, Proper Marine currently works on projects in a further nine countries, including the USA, Senegal, Spain, Portugal, China and others.
“This move fully aligns with our founding mission – as part of ABL Group and together with Longitude, we have the opportunity to accelerate our goal of taking Brazilian engineering excellence to the world. By merging with Longitude, we are synergising two like-minded design houses, who are equally committed to fostering the best engineering and design talent in our sectors.”
Bernardo Xavier, Operations Director and Founder of Proper Marine
The company will expand ABL Group’s design and engineering capabilities with a team of 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 Group’s overall capabilities in this segment.
STRATEGIC RATIONALE
This deal will unlock greater opportunity for Proper Marine to scale up its current operations and services on a global scale, with access to Longitude’s geographical footprint and notably in North America.
The integration will consolidate two almost equal sized teams to create an even stronger international design and engineering house. As such, it will further enhance both companies’ exposure to larger design projects and the FPSO sector.
It will also open greater opportunity for professional development of staff on both sides of the transaction.
The acquisition will further strengthen Proper Marine’s offering in vessel design, opening up Longitude’s intellectual property (IP) of 100+ vessel designs.
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 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.”
Hugo Jordão, Business Development Director of Proper Marine
“Together Proper Marine and Longitude will be able to expand our offering to bring value to more clients in the Americas, whilst unlocking new opportunities for staff development. Lastly, and importantly, the deal reflects our mutual commitment to growing in the important Brazilian market. I am certain that this will benefit current and new clients in both existing and new sectors.”
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