Lloyd’s Register completes OTG purchase

Lloyd’s Register Group (LR) has completed the acquisition of Ocean Technologies Group (OTG) from European private equity firm Oakley Capital.

The UK-headquartered classification society intends to combine OTG with its own OneOcean business, which it acquired in 2022.

OTG provides training, compliance, operational and human-resources software to more than 1,000 shipowners and operators and more than 1M seafarers worldwide.

This acquisition will enable LR to offer these solutions across a combined fleet of more than 30,000 vessels across the globe.

“With OTG now part of LR and combined with LR OneOcean, we are uniquely positioned to lead the way in maritime digitalisation and decarbonisation as a trusted partner,” said Lloyd’s Register chief executive Nick Brown.

“Our combined expertise enhances our ability to meet the evolving needs of an industry in energy transition and to drive innovation,” he said.

“The merger allows us to offer a suite of digital solutions that integrate human capital management and operational software. Clients will benefit from a one-stop solution, streamlining their operations and improving efficiency.”

Leadership of this combined business will be drawn from both LR OneOcean and OTG, said OTG chief executive Thomas Zanzinger.

LR also has a 50% stake, alongside the International Chamber of Shipping, in ISF Watchkeeper, which it gained in 2023.