Oakley Capital has recently sold its majority stake in Ocean Technologies Group (OTG) to Lloyd’s Register, marking a significant transaction in the maritime sector.
This sale aligns with OTG’s carrying value as of 31 March 2024, and it’s expected to yield a substantial return to Oakley Capital’s Fund IV.
The private equity firm, Oakley Capital, has confirmed the sale of its digital learning platform, Ocean Technologies Group (OTG), to Lloyd’s Register. This transaction, completed for an undisclosed amount, is expected to generate a gross return of approximately 2.7 times the money multiple for Oakley’s Fund IV. The financial outcome reflects the strategic value and successful growth achieved under Oakley’s ownership.
Previously, Lloyd’s Register expanded its digital capabilities by acquiring OneOcean in 2022. The addition of OTG represents a strategic step forward, enhancing capabilities in maritime operations management. This expansion reaffirms Lloyd’s commitment to innovation and service delivery.
The firm’s approach enabled OTG to drive technological and organisational changes, delivering transformational growth. The resulting platform is now considered best-in-class within the industry, showcasing effective market adaptation.
Nick Brown, Chief Executive of Lloyd’s Register, labelled the acquisition as transformative. He noted that the merger would strategically enhance capabilities to attract, develop, and retain maritime professionals, both at sea and ashore.
The offloading of OTG also allows Oakley to reposition its investment portfolio, potentially exploring new opportunities within the market. This move underscores Oakley’s commitment to strategic growth and value creation.
This acquisition serves as a catalyst for further advancements, potentially setting a precedent for future industry mergers and collaborations, enhancing Lloyd’s Register’s competitive edge.
With the acquisition concluded, both Oakley Capital and Lloyd’s Register stand to benefit significantly. For Oakley, this deal reflects a successful investment exit, while Lloyd’s gains a competitive advantage in maritime software solutions. The alignment of strategic goals promises continued growth and innovation for both parties.
The acquisition of Ocean Technologies Group by Lloyd’s Register marks a milestone in the maritime sector, signifying a shift towards enhanced digital solutions.
Both organisations are positioned to leverage this transaction for substantial growth, aligning with their strategic visions.
