BrazilRINA boosts maritime consulting business with purchase of Foreship
Engineering consultancy firm RINA has acquired Foreship, a Finnish company specialising in naval architecture and marine engineering. Financial terms of the deal have not been disclosed.
Helsinki-headquartered Foreship has revenues of around €15 million, generated by a team of 90 professionals across eight offices globally, including in Finland, Germany, the UK, Estonia, and the US. The company is best known for its high-profile work in cruise ship design, energy-efficient vessel innovations, and sustainable marine technologies.
With Foreship on board, RINA adds deep expertise in naval architecture to its portfolio, and expands its position in the maritime consultancy sector, particularly in complex retrofits, new fuel integrations, and digital transformation. Foreship will be integrated into RINA’s consulting division.
“Foreship offers unique competence which is highly appreciated by its clients,” said Ugo Salerno, Executive Chairman of RINA. “It brings an exceptional track record and a depth of expertise in naval architecture that complements our own consulting engineering capabilities. Together, we will deliver even greater value to the shipping industry.”
Carlo Luzzatto, CEO of RINA, added: “Foreship’s solid reputation and global customer base, including major cruise lines and shipping companies, make it a natural fit for our fast-growing marine consulting business.”
During the deal process, RINA received financial advice from Lazard, while Bain & Company assisted in the commercial due diligence, and PwC assisted in the financial and tax due diligence. Borenius Attorneys acted as legal counsel.
Meanwhile, for Foreship, the joining of forces with the global player – RINA has 6,200 employees and 200 offices in 70 countries worldwide – will enable its team to make more impact at its clients and expand its knowledge, said CEO Lauri Haavisto.
Italy-headquartered RINA has a strong presence in shipping and maritime, but is also active in the energy, real estate, infrastructure and industrial sectors.
