Braemar sells off £3.9m-revenue incident response business to Brazilian firm

Braemar Shipping Services plc has announced a deal to sell its incident response business.

Brazilian environmental services group Grupo Ambipar will acquire Braemar Response for £774k.

Response formed part of London-headquartered Braemar’s technical division. It provides environmental consultancy, contracting and training services for the oil and gas, road, rail and marine industries.

Braemar announced plans to divest Response earlier this year. While it contributed “strongly” to the group, the company said, it was felt the business would benefit from scale.

In prioritising capital requirements within the Braemar group, the board believed it would benefit from having a different owner.

Braemar acquired Response in 2006 for £900k. In the year to February 28 2018, it recorded a pre-tax loss of £595k against revenues of around £3.9m.

James Kidwell, chief exec of Braemar, said: “We are delighted to have found an excellent home for Braemar Response in Grupo Ambipar.

“The disposal allows Braemar to focus on delivering its strategy for its core consultancy and professional services.”

Braemar Shipping Services plc provides the marine, shipping, offshore, energy and insurance industries with broking, financial, consultancy, logistics and technical services.

Grupo Ambipar is headquartered in São Paulo and employs 3,000 people.