Multinational classification society Bureau Veritas has finalised the acquisition of HydrOcean, a French engineering company specialised in hydrodynamic digital simulation for the maritime industry.
Established in 2007, HydrOcean provides design support for the construction of ships, offshore structures, racing yachts and marine energy systems. Its focus is on assessing and optimising hydrodynamic performance. The company has co-developed advanced digital simulation tools in partnership with Ecole Centrale Nantes’ fluid dynamics laboratory.
HydrOcean’s services and simulation tools help reduce the risks, time and costs associated with ship design. It operates in a fast growing market driven by sustained demand from the shipping, offshore and yachting industries, and more recently the emerging marine renewable energy sector.
Based in Nantes, France, HydrOcean employs 18 engineers and had revenue of EUR 2.7 million in 2014.
“The acquisition of HydrOcean enables Bureau Veritas to integrate an outstanding team of experts and highly innovative entrepreneurs. The Group is increasingly developing solutions combining its core testing, inspection and certification services with new technologies. HydrOcean fits perfectly into this strategy thanks to its simulation tools and its technical expertise. Its services will complement those offered by the Marine & Offshore business, especially in reducing ship fuel consumption” said Didier Michaud-Daniel, CEO of Bureau Veritas.
“We have already achieved successful projects with Bureau Veritas, under the technical and commercial cooperation agreement we have had for over a year. Today, we are looking forward to becoming part of one of the world’s leading classification societies and expanding our business into the international market” added Erwan Jacquin, President and founder of HydrOcean.
By Jake Frith