Maersk to acquire ResQ to strengthen Maersk Training’s offerings
A.P. Moller – Maersk (Maersk) announces the intended acquisition for its subsidiary Maersk Training of the Norwegian company, ResQ, a leading supplier of services and expertise in safety training and emergency preparedness in Norway.
ResQ has five survival centres located strategically in Norway to cater for training in the North Sea and offers more than 70 course titles, while the crisis management part consists of a full emergency response setup, which can be fully customised to the customer’s needs and handle all aspects of an emergency. ResQ has 67 permanent employees and over 300 temporary resources spread across the country.
Maersk Training and ResQ have a close relationship today with ResQ being the largest third-party service provider for Maersk Training in Norway. Since 2019, ResQ has been a subcontractor of Maersk Training delivering services to support the Maersk Training’s global training management contracts.
Norway is a key hub for training services due to exposure to oil and gas and maritime segments in the North Sea.
The acquisition of ResQ will provide a platform which will allow Maersk Training to service the offshore renewables industry in Norway.
The enterprise value of the transaction on a post IFRS 16 basis is approximately USD 26m (pre-IFS16 enterprise value of c. USD 14m) reflecting a pre-synergy EBITDA multiple of 5.3x based on adjusted 2021 EBITDA. Completion of the acquisition is subject to regulatory review and approval.
A.P. Moller - Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. As the global leader in shipping services, the company operates in 130 countries and employs approximately 95,000 people.
Maersk Training is an independent business unit under A.P. Moller – Maersk that specialises in the safety training industry. Maersk Training has more than 300 employees and supplies a variety of courses to Maersk and APM Terminals. Additionally, Maersk Training offers tailormade programs for customers. Maersk Training was established in 1978, to improve safety in the offshore industry.
ResQ, a leading supplier of services and expertise in safety training and emergency preparedness in Norway. ResQ has five survival centres located strategically in Norway to cover the needs for training and offers more than 70 course titles, while the crisis management part consists of a full emergency response setup, which can be fully customised to the client’s needs and handle all aspects of an emergency. ResQ has 67 permanent employees and over 300 temporary resources spread across the country.
