Pan-European private equity investor Oakley Capital’s Oakley Capital Fund IV has agreed to sell its majority stake in maritime sector software provider Ocean Technologies Group (OTG) to Lloyd’s Register, a global professional services group specialising in marine engineering and technology.
Under Oakley’s ownership, OTG has generated strong revenue and EBITDA growth and has developed from an e-learning specialist to become a global provider of human capital management and operational software to the maritime industry. Today, it provides training, compliance, operational and HR software to c17,000 vessels and over one million seafarers.
Oakley invested in the business in 2019 through the parallel acquisition and combination of two e-learning providers to the maritime industry, Seagull and Videotel which it combined to focus on software solutions.
In addition to the original combination of Seagull and Videotel, OTG has completed several strategic acquisitions, as diversified its product offering into new verticals, offering significant cross-selling opportunities.
