PE Deals

Equistone sells maritime company OneOcean

OneOcean is currently being used by more than 16,000 vessels.

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  • The buyer is Lloyd’s Register
  • OneOcean was created by the merger of ChartCo, in which Equistone first invested in 2016, and Marine Press in 2019
  • The deal is expected to close by the end of the summer
Lloyd’s Register, a UK-based provider of maritime professional services, has acquired OneOcean, a European supplier of voyage compliance, safety and environmental solutions, from Equistone Partners Europe. No financial terms were disclosed.
This move will fastrack LR’s ambitions to be the maritime industry’s advisor for compliance, safety, performance and sustainability solutions. OneOcean solutions are currently used by more than 16,000 vessels to support and optimize compliance, safety and environment, increasing transparency and simplifying complex regulations.
On the deal, LR Group CEO Nick Brown said in a public statement: “The acquisition of OneOcean propels LR to the position of a leading digital player in the maritime industry enabling clients to make better commercial day-to-day decisions, reducing risks, improving operation efficiencies and critically meeting complex maritime regulatory requirements.”
Tim Swales, a partner at Equistone, echoed Brown’s enthusiasm. “This business has undergone remarkable transformation and growth over the past six years, since we first invested in ChartCo and then supported the formation of OneOcean through the merger with Marine Press,” he said, also in a public statement. “Martin and his team have built a high-quality business that is in the vanguard of the marine industry’s shift towards digital solutions, and it has been a pleasure to work with them. In Lloyd’s Register we are confident we have found the right partner to support OneOcean through this next stage of its growth.”