The transaction is a key milestone in Lloyd’s Register’s strategy to become the go-to partner and adviser on compliance, performance and sustainability to the maritime industry and broader ocean economy.
The Business Assurance & Inspection Services division will adopt the brand name LRQA, to reflect its 35 years of expertise and heritage in the assurance market, and will no longer be part of Lloyd’s Register.
The creation of two independent businesses will unlock significant growth potential for both companies and enable them to deliver more value to their customers.
- Lloyd’s Register will build on its 260-year heritage in the maritime industry by committing additional investment capital to take its compliance offering to the next level, expand its risk and advisory services and develop industry-leading digital solutions.
- With additional focus and investment, LRQA will accelerate its journey to become the leading digitally-enabled assurance provider, partnering with customers across key sectors, geographies and segments as they navigate a changing risk landscape.
Over the coming months, the two companies will be working towards full separation and the transaction is expected to complete in second half of 2021. In the meantime, and after completion, customers can expect business as usual as we continue to deliver services across the world.
Hear from Lloyd’s Register CEO Nick Brown on expanding the company’s role and service offering in the maritime industry.
Hear from LRQA’s CEO Paul Butcher on the journey to become the leading digitally-enabled assurance provider.
Press release: Lloyd’s Register to expand role and service offering in the maritime industry with the sale of its Business Assurance & Inspection Services division to Goldman Sachs Asset Management.
Read more about the benefits of the transaction to Lloyd’s Register
Media contact for Lloyd's Register
T +44 330 414 0419
M +44 7855 113 273
Media contact for LRQA
T +44 330 414 1315
M +44 7769 881 440