American Bureau of Shipping has announced that ABS subsidiary, ABSG Consulting, , a leading global risk management company, has agreed to the sale of its technical inspection service line to Apave Group, an international inspection group with over 150 years of experience.

“This transaction better positions ABS Consulting to focus on its strategic objectives to deliver world class technical risk solutions to support the overall ABS strategy,” said Christopher J. Wiernicki, ABS Chairman, President and CEO.“These solutions are delivered through the Risk and Reliability, Cybersecurity, Government and Management Systems Certification service lines. The technical inspection service line, even with its strong global performance, supports a different focus.”

“The sale of our global inspection service line will enable us to concentrate on our core risk and reliability consulting business,” said Ryan Moody, CEO of ABS Consulting.

The acquisition of ABS Consulting’s technical inspection service line will allow the Apave Group, which already operates globally in more than 45 countries, to strengthen and expand its geographical position in strategic markets, such as the Middle East, the Asia-Pacific region, as well as the U.S. and UK. Apave will be acquiring the entire inspection service line of ABS Consulting. The deal is expected to close by Q1 of 2023.