Bureau Veritas, an international classification society, has finalized the acquisition of HydrOcean, a French engineering company specialized in hydrodynamic digital simulation for the maritime industry.
HydrOcean provides design support for the construction of ships, offshore structures, racing yachts and marine energy systems. Its focus is on assessing and optimizing hydrodynamic performance. The company has co-developed digital simulation tools in partnership with Ecole Centrale Nantes’ fluid dynamics laboratory.
Based in Nantes, France, HydrOcean employs 18 engineers and had revenue of €2.7 million ($3million) in 2014. The company was established in 2007.
Didier Michaud-Daniel, CEO of Bureau Veritas said: “The acquisition of HydrOcean enables Bureau Veritas to integrate an outstanding team of experts and highly innovative entrepreneurs. The Group is increasingly developing solutions combining its core testing, inspection and certification services with new technologies. HydrOcean fits perfectly into this strategy thanks to its simulation tools and its technical expertise. Its services will complement those offered by the Marine & Offshore business, especially in reducing ship fuel consumption.”
President and founder of HydrOcean Erwan Jacquin said: “We have already achieved successful projects with Bureau Veritas, under the technical and commercial cooperation agreement we have had for over a year. Today, we are looking forward to becoming part of one of the world’s leading classification societies and expanding our business into the international market.”