Oakley Capital Investments sells stake in Ocean Technologies Group
Summary
(Alliance News) - Oakley Capital Investments Ltd on Monday said that it has sold its majority stake in Ocean Technologies Group to Lloyds Register Group Services Ltd. Oakley Capital Investments is a Bermuda-based private equity firm that specialises in the technology, consumer, education and business services sectors. Oakley originally invested in OTG in 2019 through its acquisition and combination of two e-learning providers for the maritime industry, Seagull and Videotel. It demonstrates our ability to leverage merger and acquisition opportunities to help software businesses grow and diversify into new markets, and to drive technological and organisational change that delivers transformational growth." Oakley reported that OTG had generated "strong revenue and [earnings before interest, tax, depreciation and amortisation] growth" under its ownership, now providing mission-critical training, compliance, operational and HR software to 17,000 vessels and more than one million seafarers. With the acquisition of OTG following its successful transformation under Oakley, we will be able to provide a strategic approach to attracting, developing, managing and retaining maritime professionals at sea and ashore."
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