Aqualis has completed the acquisition of the offshore, adjusting and marine business lines of Braemar Shipping Services.
As HLPFI reported here, the combined company will be renamed AqualisBraemar and will be headquartered in London, UK. David Wells, current ceo of Aqualis and its subsidiary Aqualis Offshore, will continue to lead the group.
Aqualis said that the combined entity will provide customers with a broad service offering within the offshore oil and gas industry.
“Combining our companies gives us greater critical mass within the energy, insurance and shipping markets and means we will be much better positioned going forward. With our larger scale, increased resources and our talented people, our ability to meet our clients’ needs is vastly improved,” said Wells.
Following the completion of the transaction, Braemar will be the largest shareholder in AqualisBraemar with a stake of approximately 26 percent.