Houlihan Lokey Advises ABS Consulting
Houlihan Lokey is pleased to announce that ABSG Consulting, Inc. (ABS Consulting), a leading global risk management company, has sold its technical inspection service line to Apave Group (Apave), an international group with more than 150 years of experience and a global leader in risk management. The transaction was completed on 31 May 2023.
ABS Consulting is part of ABS Group of Companies, Inc., which is a wholly owned subsidiary of the American Bureau of Shipping, one of the world’s leading marine and offshore classification societies. With more than 50 years of global risk management and safety experience, ABS Consulting provides world-class technical risk solutions through its four main service lines (risk and reliability, cybersecurity, government, and management systems certification), helping clients support the integrity, quality, and efficiency of critical assets and operations. Headquartered in Spring, Texas, USA, ABS Consulting operates with more than 1,000 professionals across the globe serving the following sectors: marine and offshore; oil, gas, and chemicals; government; power and energy; and industrials.
Apave is an international leader in the field of technical, environmental, human, and digital risk management with more than 150 years of experience. In 2021, the group’s majority shareholder, GAPAVE, welcomed a new shareholder, PAI Partners, to support its development and external growth strategy. Providing services in five key areas (inspection, training, tests and measurements, certification and labelling, and consulting and technical support), Apave recorded a turnover of approximately €1 billion in 2021. Apave currently has 12,650 employees and a presence in over 45 countries worldwide serving more than 500,000 customers.
Houlihan Lokey served as the exclusive financial advisor to ABS Consulting. This deal exemplifies the continued success of Houlihan Lokey’s dedicated global coverage of the TICC sector.
In addition, Houlihan Lokey’s Transaction Advisory Services (TAS) practice assisted with, among other things, carve-out financials and the net working capital analysis.
RELATED: Business Services, Testing, Inspection, Certification, and Compliance