Friday, May 08, 2009
Noble Denton merges with GL
Friday, 08 May 2009
The Norwegian cartel authority Konkurransetilsynet has approved the merger of Noble Denton with Germanischer Lloyd (GL). The two companies had announced their merger on 1 April 2009. Together, Germanischer Lloyd and Noble Denton will form a global technical assurance and consulting company to serve the oil and gas sector. The purchase of Noble Denton is the largest corporate acquisition in the history of Germanischer Lloyd.
Germanischer Lloyd and Noble Denton will provide consulting, assurance as well as project management on a worldwide scale especially for the oil & gas and renewable energy sectors as well as for the maritime industry. The spectrum of services ranges from design and construction, transportation and installation. The operational assurance services include reliability, regular integrity checks, plant safety analyses, risk management and performance assessments for both onshore and offshore installations. A key focus will lie on mobile offshore platforms.
"With this merger, we are responding to the needs of our clients: the operators, financiers and underwriters of energy installations are increasingly faced with major technical, operational and environmental challenges in the course of their exploration programmes. We will now be able to offer our worldwide customers a single source of localized engineering, consulting and project management services, and thus become the premier global business partner in the oil and gas, renewables and energy supply markets," said Pekka Paasivaara, Member of the Executive Board Germanischer Lloyd, at a press conference in Houston during the leading industry show Offshore Technology Conference (OTC).
Both companies serve clients from the oil, gas and renewable energies sectors as well as contractors, shipyards, ship owners, consultants, designers and financial institutions across the marine and energy industries. With Noble Denton now on board, the workforce of Germanischer Lloyd will swell by another 900 to more than 6,400 employees in 80 countries.
Growth strategy for both companies
Germanischer Lloyd, headquartered in Hamburg, Germany, and Noble Denton, headquartered in London, have followed similar growth strategies. Both organizations have conducted a number of acquisitions recently to complement their areas of expertise. Acquisitions by GL include the UK-based Advantica Group, PV Inspection based in Canada and the USA, Montreal-based Helimax, Trident Consultants based in Kuala Lumpur, US-based Materials Consulting Services, and International Refinery Services in Singapore. Noble Denton has strengthened its portfolio by acquiring Martech Unlimited, BOMEL Consultants, Intelligent Decisions, Poseidon Maritime Ltd., Lowe Offshore International Inc., Standard Engineering and Brevik Engineering.
"With Noble Denton's experience and expert knowledge in assurance and consulting as well as its project management, transportation and installation services relating to offshore assets, we will now be the full-service provider for the entire life cycle of oil and gas installations," added Pekka Paasivaara.
John Wishart, Group Managing Director of Noble Denton, said: "Noble Denton is excited to be merging with Germanischer Lloyd. We share the same values of safety, integrity and technical excellence. This partnership brings benefits to our clients and employees alike. We are now able to provide an even more comprehensive service offering to our clients, with access to a greater number of technical experts. This will enable us to enter developing markets."
Source: GL Group
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