VPS, a global marine fuel testing advisory company owned by Fremman Capital has acquired Emsys Maritime, a real-time emissions measurement company operating globally and based in Altrincham. Financial terms of the transaction were not disclosed.
Azets, the UK Top 10 Accountancy firm, provided corporate finance and tax advice to the company’s shareholders and directors.
VPS is the market-leading fuel testing, inspection, and advisory services company in shipping, with laboratories located in Rotterdam, Singapore, Houston and Fujairah. VPS tests marine fuels and lubricating oils, producing high quality, reliable analytical data with further expert interpretation and advice, helping ship operators to run their vessels efficiently, optimising fuel costs and reducing greenhouse gas emissions. The acquisition of Emsys Maritime complements the growing digital decarbonisation service offering from VPS, servicing a rapidly increasing demand from shipping customers.
Emsys Maritime is a market-leading manufacturer of real-time, laser driven marine emissions measurement technology. Headquartered in Altrincham with an overseas operating hub in South Korea, the company’s customer base includes the world’s leading shipyards and ship operators. Their unique technology is supported by a comprehensive digital data platform which provides unique insights into the vessels real-time environmental profile allowing operators to maximise efficiency whilst maintaining regulatory compliance. The recent introduction of the ‘Emsys Analytics’ software platform has provided a comprehensive, real-world data stream to ship operators and charterers to help manage their ESG reporting requirements. In April 2021 Emsys Maritime were honoured to be awarded a Queens Award for Enterprise in the International Trade category.
Azets advised the shareholders of Emsys Maritime led by Corporate Finance Partner Tim Mills and supported by Andrew Thompson and Niamh Scurr. Tax advice was provided by Sinead Watson.
Mills & Reeve provided legal advice to the Emsys Maritime shareholders. The team, which was led by Partner Chris Ross, included Maya Parmar and Samantha Liptrott.
Dr Malcolm Cooper, CEO of VPS said:
“In Emsys Maritime, we have acquired a company with a strong technical capability and excellent reputation, helping us to deliver our ambition to be the leading service provider in fuel performance optimisation and emissions reduction. The addition of real-time emissions measurement data complements our existing marine fuel analysis data to provide a comprehensive understanding of greenhouse gas emissions in the maritime sector. The integration of real-time emissions monitoring into our existing portfolio of digital decarbonisation services (which currently includes Maress, NOxDigital, CORE and PortStats) within a single, unified platform will provide added value throughout the VPS digital customer journey”
Simon Brown, founder and Managing Director of Emsys Maritime, commented:
‘Emsys Maritime was established to provide the maritime industry with the most accurate and reliable emissions measurement tools to enable ship operators to manage their environmental and regulatory requirements and goals.
The acquisition by VPS allows Emsys Maritime to accelerate its already strong growth into new market areas and customer sectors. The integration of our real-time data into the VPS digital decarbonisation platform will create an industry leading portal which will help the wider shipping community on its journey towards net zero.’
We have received excellent support from the teams at Azets and Mills and Reeve who have helped us navigate and negotiate the deal. I appreciate the dedication of the teams in managing the process throughout and securing a successful transaction.”
Tim Mills, Corporate Finance Partner at Azets said:
“It has been a pleasure to work closely with the shareholders and directors at Emsys Maritime and with Chris Ross at Mills and Reeve to complete the deal, as well as the team at VPS, who have been extremely professional throughout. We wish the team all the best in their next exciting chapter with Emsys Maritime and VPS.”
Chris Ross, Partner at Mills & Reeve said: “We are pleased to have advised on the sale of a fantastic North West based manufacturer which has excelled in the marine industry globally. Emsys Maritime has strengthened its ability to make a real difference to the ESG capabilities of its sector. Great to work with the shareholders, and the team at Azets to get this over line.”
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