Haavind has assisted the listed company AqualisBraemar in this transaction.
The listed company AqualisBraemar ASA announced its acquisition of the LOC Group from LOC Group Holdings Limited, the shareholders of which include pan-European investment group Bridgepoint and key employees of LOC.
The LOC Group is an international marine and engineering consulting firm that operates in the shipping, oil and gas, and renewables sectors, providing loss prevention and loss management services, as well as marine and engineering consultancy services. Headquartered in London, the LOC Group employs 416 people and operates worldwide in over 30 offices located in Europe, Africa, Americas, Middle East, Asia and Australia.
The purchase price consists of a combination of USD 20.2 million net cash consideration, subject to customary adjustments prior to closing, and conditional warrants in AqualisBraemar.
The Haavind team included Bjørn Olav Torpp (Picture), Cornelius Sogn Ness and Herman Bondeson.
Law Firms: Haavind AS;
Clients: Aqualis ASA;