Aqualis ASA and Braemar Shipping Services plc entered into an agreement whereby Aqualis will acquire three business lines (Adjusting, Marine and Offshore, jointly “BTS”) representing the majority of the Braemar Technical Services division (the “Transaction”). The combined company, to be renamed AqualisBraemar, will be a leading adjusting, marine, offshore and renewables consultancy with a broadened service offering across all major basins. Through the transaction, existing and potential clients of AqualisBraemar will be able to benefit from gaining access to new capabilities and broader suite of services on offer as well as increased manpower and geographical footprint to enable even quicker and more cost-efficient operational support at or in close proximity to clients' offices and assets.

The combined company will operate under the united brand AqualisBraemar and will have four main business lines, each with a global offering and strong presence in their respective markets: Adjusting, Marine, Offshore and Renewables. Corporate governance Grant Smith, the current Managing Director of Braemar Technical Services, will join AqualisBraemar's executive management as COO Insurance Services.