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With the addition of COMPAS, Ocean Technologies Group is now the largest software provider dedicated to the maritime industry, offering a range of solutions that empower maritime professionals and help ship owners to better manage their assets.
Peter Dubens
Managing Partner, Oakley Capital
01 Sep 21

Oakley Capital (“Oakley”), the pan-European private equity investor, is pleased to announce that portfolio company Ocean Technologies Group (“OTG”) has acquired COMPAS, the leading crew management SAAS provider to the maritime industry. The acquisition is OTG’s fifth bolt-on acquisition and continues Oakley’s transformation of the business into a diversified software platform serving the multiple needs of the maritime industry.

COMPAS is a leading human capital management (“HCM”) SAAS solution that helps ship owners and professionals to efficiently manage all aspects of crewing activities, such as crew planning, crew change management and other logistics.

OTG is a leading software provider to the maritime industry, serving around 20,000 vessels and over   one million seafarers every year. The group includes the clear market leaders in e-learning, HCM, fleet and information management software solutions.

Oakley first invested in the business in 2019 through the simultaneous acquisition of two e-learning providers to the maritime industry, Seagull and Videotel, followed by further bolt-on acquisitions of Tero Marine, COEX, Marlins, MTS and COMPAS.

Adding COMPAS introduces a new pillar to OTG’s product offering alongside its Learning and Fleet Management solutions, and reflects the increasing importance of effective management of human resources, a crucial asset in shipping at a critical time for global trade.  The ongoing COVID crisis has introduced significant disruptions to seafarers and their shore-based colleagues in routine operations including crew changes, crew training, procurement and maintenance.

With fewer personnel at sea and qualified crew harder to find, the importance of recruiting and retaining talent as well as supporting seafarers in their work has never been more important. Ship managers are increasingly turning to SaaS solutions that they can integrate across their fleet to enable compliant and efficient performance from their workforce and the vessels they manage.

Announcing the combination, Manish Singh, CEO of OTG said, “Our group companies have a combined track record of over a hundred years in pro-actively delivering solutions for the most pressing challenges facing seafarers and ship managers. The current operating environment demands unified solutions to manage complex operations with efficient labour-saving workflows and improved data portability. In our dialogue with blue-chip customers, we see a strong desire for joined up, turn-key solutions that enable insights across personnel and vessel performance and the monitoring and measurement of KPIs in a single place. With our new combined offering we have a great opportunity to make this dream a reality.”

COMPAS CEO Cornel Ciocan said, “We have enjoyed fruitful partnerships with OTG’s brands over the years and now as fellow OTG companies with even closer alignment of our platforms, we will be able to offer best-of-breed specialisation with “out of the box” interoperability, bringing significant efficiencies and new possibilities to our customers.”

Peter Dubens, Managing Partner at Oakley Capital said, “With the addition of COMPAS, Ocean Technologies Group is now the largest software provider dedicated to the maritime industry, offering a range of solutions that empower maritime professionals and help ship owners to better manage their assets. Ocean has consistently demonstrated that it can deliver strong earnings growth underpinned by product innovation and cross-selling synergies, and combining M&A with organic growth remains a key value creation strategy for the business.”

With the addition of COMPAS, Ocean Technologies Group is now the largest software provider dedicated to the maritime industry, offering a range of solutions that empower maritime professionals and help ship owners to better manage their assets.
Peter Dubens
Managing Partner, Oakley Capital

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