- About us
- IBJ Awards
- Free Sample
- Contact us
Wavespec announces management buyout
(Posted on 06/04/21)
Wavespec, as the last technical entity within Braemar Shipping Services Plc, has announced that it is now under new ownership as a private entity.
Wavespec, a leading international provider of technical services, engineering and solutions to the gas processing, liquefied gas, renewable and marine industries, is now operating its United States, United Kingdom, Netherlands, and Singapore based offices under a new umbrella, Wavespec Holding, BV. Wavespec’s previous owner, Braemar Shipping Services PLC, elected in 2018 to exit its technical services businesses to focus more on their core shipbroking and related activities. At that time, Braemar made the decision to carve out and maintain Wavespec from its Braemar Technical Services Group (BTS). The BTS sale was completed in summer 2019, which then shifted Braemar’s focus on finding the right home for Wavespec.
Prior to the reorganisation to include Wavespec in the BTS Group, Wavespec primarily functioned independently for much of its 24 years under the Braemar umbrella. This new change of ownership is part of a strategic plan to allow Wavespec the structure it needs to prosper and grow. The new Wavespec Holding is backed by Cosmos SICAV Plc, an investment fund managed by Abalone Asset Management Ltd, committed to invest aggressively in the ‘energy transition.’
The re-born Wavespec is led by the seasoned management team comprised of Sheila McClain, Managing Partner, Constantyn Gieskes, Partner – LNG & Renewables, and Andy Bright, Partner – Marine Shipping Projects.
Sheila McClain, Managing Partner of Wavespec said: “We are delighted to announce this change in ownership, which is in line with our strategy of growing a more diverse technical consulting business. Going private with more access to the funds we need to expand the business will allow us to sustain current operations and grow with the demands of our clients’ changing needs. It represents the next chapter for our brand, while we maintain the existing services that we’ve provided our clientele for the past 28 years.”
Launched this week, the new Seafarer Workforce Report from BIMCO and the International Chamber of Shipping... Read more
DNV, the world’s leading classification society and risk management expert, is embarking on an... Read more
International Maritime Industries (IMI), the largest maritime yard in the Middle East and North Africa... Read more
Distractions are recognised as one of the biggest causes of human error resulting in incidents, accidents... Read more
The Bahamas Maritime Authority (BMA) has announced that it has recognised the Seafarer Mental Health... Read more
Leading Classification Society ClassNK granted its first Innovation Endorsement “Provider Certification... Read more
World shipping can learn a lot from Jamaica when it comes to equality in the maritime workplace because... Read more
Classification society DNV has issued a verification statement allowing global survival technology specialist... Read more
METIS Cyberspace Technology is contributing to an EU-backed project that will test clean energy solutions... Read more
The technology group Wärtsilä continues to lead the ongoing transformation of the energy and... Read more