Bureau Veritas pursues external growth strategy with the acquisition of TMC Marine
May. 4 2016
Neuilly-sur-Seine, France, May 04, 2016 – Bureau Veritas has reinforced its position in value-added marine services with the acquisition of leading international consultancy TMC Marine Ltd.
TMC has been providing pre and post casualty advice and support to the marine industry since 1979. The business focuses on marine claims and accident investigations, salvage and wreck removal consultancy and marine expert witness services for a client base that spans P&I clubs, law firms, marine insurers, salvage companies and ship owners.
Headquartered in London, TMC has a network of offices in the US, China, Singapore and Australia. It employs over 50 people and generated revenues of EUR 8.5 million in 2015.
“Our Marine & Offshore business, the historical activity of Bureau Veritas, is one of our eight key growth initiatives to 2020. As such, it is evolving rapidly. We are diversifying our service portfolio and developing our technological leadership in order to meet all our clients’ expectations in risk management. TMC is a recognized brand that enables the Group to enhance its offering to the marine insurance consultancy market, thereby expanding the services that we already provide in offshore to the maritime market” commented Didier Michaud-Daniel, CEO of Bureau Veritas.
“We are very happy to be joining the expanding Marine & Offshore division of Bureau Veritas a leading service provider to the international marine industry. This is a strategic alliance that will provide TMC with technical synergies and greatly enhance the services we can offer to new and existing clients while at the same time continuing our plan of further geographic expansion” added Tony Bowman, Chairman of TMC.