We use cookies on our website in order to make your visit more efficient and to offer you the most pleasant possible experience and to analyse the accesses to our website. We use Google Analytics for this purpose. Further information can be found in our DATA PROTECTION STATEMENT.

BDO advises on landmark transaction in maritime services for renewable energy

12 January 2022

  • International IFCHOR Group buys shares in Hamburg-based GRS.Group
  • Strategic combination to pave the way to becoming the leading provider of offshore project services

BDO has advised the shareholders of GRS.Group on the successful sale of shares to the international IFCHOR Group, headquartered in Switzerland. The strategic combination of the two groups paves the way for them to become the leading provider of maritime services to the Renewable Energy/Off-Shore windfarm industry. For the customers of both companies, this means an even broader, international range of services from a single source. The two founders and managing Shareholders of GRS will work hand in hand with IFCHOR management and actively support the further growth of the group.

GRS, headquartered in Hamburg, is a leading advisor and solution provider in the renewable offshore energy segment and has been offering both shipowners and wind farm operators comprehensive as well as individual solutions for every phase of the project life cycle of an offshore wind farm since 2011. Concept planning and project consulting for offshore wind projects are offered as well as chartering, new construction project management, purchase and sale, financing consulting services and research services within the maritime industry.

IFCHOR is a highly competitive international shipbroker headquartered in Lausanne, Switzerland. With offices worldwide in Asia, Europe, the Middle East and the USA, the group offers its international clients comprehensive market coverage and expertise in the brokerage of vessels of all sizes, primarily in the dry and wet bulk sectors. In addition, fully integrated services are offered in the segments of buying and selling, research, maritime technologies, financial advisory and CO2 emissions.

"The strategic merger with IFCHOR provides us with ideal conditions to implement our global growth strategy in the field of Renewable Offshore Energy even faster and more successfully and to further expand our leading market position. We would like to thank BDO, who advised us with their M&A and market expertise in the maritime industry throughout the entire competitive bidding process, for successfully concluding the transaction," commented GRS.Group shareholders Matthias Mroß and Philippe Schönefeld.

BDO with strong growth

BDO has shown a strong growth course for years. In the 2019/2020 reporting year, the German BDO Group achieved a year-on-year increase in revenue of 8.6 per cent to €285 million (€262 million) - above-average growth compared to the industry. This reflects the strong demand for BDO expertise despite negative pandemic influences on the economy. In the recent past, BDO had been able to win well-known companies in tenders in the audit of financial statements. In addition to the Dax group SAP, these include, for example, the food group Theo Müller, in the financial sector Citigroup Global Markets Europe AG and MLP as well as in consulting the vaccine manufacturer BionTech.