What is LRQA?
LRQA is LRQA’s Business Assurance & Inspection Services division. This comprises business assurance, inspection services and cyber-security through Nettitude.
What are the benefits of the transaction to LRQA?
The transaction will enable LRQA to build on our 260-year heritage in the maritime industry by committing additional investment capital to take our compliance offering to the next level, expand our risk and advisory services and develop industry-leading digital solutions. It will also provide greater focus to build our role as a leading industry advisor for maritime supply chain safety, resilience and efficiency.
Why is now the right time for LRQA to sell LRQA?
The ocean economy is transforming at a rapid pace, responding to regulatory, economic and societal pressures to digitalise and decarbonise within tight timeframes. We recognise that there has never been a more pressing need for specialist maritime advisers to guide and support clients through the fundamental changes they face, helping to define the route to compliance, operational efficiency, sustainability and competitive agility. We see this as a great opportunity for us to become an even more valuable partner to our clients.
What are the benefits of the transaction to LRQA?
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.
Why is now the right time for LRQA to be a standalone company?
LRQA is now at a critical moment in its journey to become the leading digitally enabled assurance provider, and the time is right for it to become a fully independent business. LRQA requires greater focus and investment to strengthen its first-mover advantage in digital and capitalise on increasing demand across its markets for assurance, inspection and cyber security services delivered by a trusted provider.
Will LRQA still provide cyber-security services to its clients?
LRQA and Nettitude, under their new ownership, will form a joint partnership to continue to provide cyber security services for our Maritime clients.
When will the transaction complete?
The deal is expected to complete by the second half of 2021 following customary regulatory approvals.