News / 16.05.2019

Haavind advisor in Aqualis and Braemar transaction

Author(s) Bjørn Olav Torpp & Cornelius Sogn Ness

Haavind and Eversheds Sutherland has advised Aqualis ASA (Aqualis) on its acquisition of three business lines from the Braemar Technical Services division of Braemar Shipping Services plc (Offshore, Adjusting and Marine) in exchange for a significant equity stake in the combined group.

The team included Bjorn Olav Torpp and Cornelius Ness from Haavind and Robin Johnson and Laura Allsop from Eversheds Sutherland.

Aqualis is a leading provider of consultancy and engineering services to the offshore oil & gas and offshore wind sectors, and is listed on the Oslo Stock Exchange.

Braemar Shipping Services plc is a leading international provider of broking, financial, consultancy, technical and logistics services to the shipping, marine, energy, offshore and insurance industries.

Aqualis Braemar

The proposed combination of these three business lines within Aqualis will create one of the largest independent global marine consultancies, by staff members, focused on servicing the international insurance markets. The company, to be renamed AqualisBraemar, will remain listed on the Oslo Stock Exchange following completion of the transaction.

In connection with the transaction, Aqualis will propose fully underwritten equity issues towards Braemar and existing Aqualis shareholders to strengthen growth capacity through the integration phase.