Braemar Shipping Services-backed AqualisBraemar completed the acquisition of LOC Group from Bridgepoint.

Braemar Shipping Services-backed AqualisBraemar, a Norway based company engaged in providing marine and engineering consultancy services, completed the acquisition of LOC Group, an international marine and engineering consulting firm, from Bridgepoint. Financial terms were not disclosed. “We want to grow through continued expansion in the rapidly growing offshore renewables industry, and leverage on our position within shipping and oil and gas markets, to support this energy transition. LOC Group, with its strong and highly complementary footprint within the same industries, is a perfect fit for this strategy and will support our ambition of consistently returning capital to our shareholders,” David Wells, AqualisBraemar CEO.