Charles Taylor expands global Marine Technical Services with agreement to acquire Cosulich Marine Consultants
02 November 2020
Charles Taylor announces the expansion of its marine capabilities in Europe, Middle East and Asia through the agreement to acquire Lab Cosulich Consultants (LCC) and CMC Marine (CMC) (together, ‘Cosulich Marine Consultants’). The acquisition is expected to be completed by the end of December 2020.
Founded in 1952, LCC provide leading services in scientific consultancy, surveying and testing services for the marine and insurance industries. LCC is headquartered in Genoa, Italy and is led by Riccardo Cosulich. CMC was established in Singapore in 2010 and expanded into the UAE in 2019; these operations are led by Diego Cosulich and Gustavo Cosulich respectively. Cosulich Marine Consultants will form a core part of Charles Taylor Marine Technical Services; Riccardo, Gustavo and Diego Cosulich will join Charles Taylor and will continue to lead the Cosulich Marine Consultants business.
(Left to right Oliver Hutchings, Riccardo Cosulich, Gustavo Cosulich and Diego Cosulich)
Cosulich Marine Consultants and Charles Taylor have worked together for over 65 years and the acquisition will add a new service line to the Marine Technical Services business. Cosulich Marine Consultants will work alongside Charles Taylor’s growing team of marine consultants and surveyors globally as the business looks to further diversify, enhance and expand its marine-related services. The acquisition will build on the integration of Bowditch Marine and Pilot Marine into Charles Taylor’s Marine Technical Services business in April 2020; and the hiring of a team of expert marine surveyors led by John Poulson in July 2020. Charles Taylor aims to continue to expand its Marine Technical Services team through hiring experienced surveyors around the world.
Oliver Hutchings, Managing Director, Charles Taylor, Marine commented “The acquisition of the Cosulich Group adds a critical offering to our Marine Technical Services business within Europe, Middle East and Asia – all of which are key markets for our expansion. The acquisition reinforces our commitment to creating a unified, global marine surveying structure to support maritime clients, their assets and their insurance arrangements worldwide.”
Riccardo Cosulich, CEO of LCC added “Having worked with Charles Taylor for over 65 years, we are pleased to build further on this partnership and to become an integral part of the Marine Technical Services team. We have long admired Charles Taylor’s business and look forward to developing a unified marine service proposition moving forward.”
Charles Taylor Marine Technical Services offers the full spectrum of technically advanced surveying services from pre-voyage inspections to post-damage surveys. Survey competencies for commercial vessels, mega-yachts and ports include Hull & Machinery, Ocean & Inland Cargo, Warranty, and Marine Property. Charles Taylor Marine Technical Services supports vessel owners and charterers, marine insurers and reinsurers and cargo owners.
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About Charles Taylor
Charles Taylor is a global provider of professional services and technology solutions dedicated to enabling the global insurance market to do its business fundamentally better. Dating back to 1884, Charles Taylor now employs approximately 3,000 staff in more than 120 locations spread across 30 countries in Europe, the Americas, Asia Pacific, the Middle East and Africa.
Charles Taylor believes that it holds a distinctive position in its markets in that it is able to provide professional services and technology solutions in order to support every stage of the insurance lifecycle and every aspect of the insurance operating model. Charles Taylor serves a diversified blue-chip international customer base that includes national and international insurance companies, mutuals, captives, MGAs, Lloyd's syndicates and reinsurers, along with brokers, distributors and corporate insureds.