ABS Group of Companies, Inc has entered into an agreement to acquire Safetec Nordic AS (Safetec), a provider of integrated risk and asset management services. The programs and services of Safetec will strengthen and expand those of ABS Consulting (a subsidiary of ABS Group).
ABS believes that combining the talent and resources of these two entities will result in a consulting organisation that can deliver clients more timely and innovative solutions for today’s operational and business challenges.
Safetec’s focus has been serving customers in the offshore, marine and land-based industries from their key operating centres in Norway, the UK and Malaysia for almost three decades. During that same period, ABS Consulting has established itself as a global leader in safety, risk and integrity management systems. Adding Safetec’s integrated risk and asset lifecycle management services to the organisation will significantly enhance ABS Consulting’s existing risk and integrity management services.
“The integration of Safetec is directly aligned with our strategic objective to broaden the range of services provided to our offshore customers and to strengthen our presence in Europe, particularly in the North Sea,” says ABS Group CEO Tony Nassif (pictured). “In addition, Safetec will serve as a platform for further growth in other leading offshore markets.”
According to Jan Morten Ertsaas, CEO of Safetec, “ABS Consulting and Safetec have complementary skills and expertise that will provide an even broader range of solutions to all of our customers.” He added that, “The combination of Safetec and ABS Consulting will allow Safetec and our employees even greater opportunities to grow with exciting opportunities to leverage the global ABS Consulting presence and develop new and innovative solutions for our customers.”
“We are extremely pleased with the impending Safetec acquisition,” says ABS Chairman Robert D Somerville. “This is part of our ongoing investment in opportunities to improve the delivery of innovative services and programs that our clients need to meet today’s and tomorrow’s challenges. For more than 150 years, ABS has been focused on improving safety throughout the maritime industry, and bringing Safetec into the organisation will allow us to further expand our influence on this critical subject.”
Terms of the transaction were not disclosed. Closing, subject to customary closing conditions, is scheduled for January 2012.