Through this acquisition, ABL Group expands its service offering to water management consultancy to support offshore, coastal, and inland assets and projects, including Hidromod’s proprietary subscription-based software AquaSafe. The deal will also enhance existing offerings in ports and harbors consultancy and in climate change risk assessment and adaptation.
“We are excited to welcome Hidromod as part of ABL Group. Water is fundamental to our planet’s sustainability, both in terms of its essential properties to life and in the risks it poses to infrastructure and communities as climate change effects take hold. Hidromod provides vital and innovative solutions that will bring considerable value to the clients and markets we serve whilst opening the door to drive sustainability in new sectors,” said Reuben Segal, ABL Group CEO.
About Hidromod
Established in 1992, Hidromod specializes in numerical modeling and digital twin solutions to simulate and predict the behavior of coastal systems, estuaries, catchments, and other water bodies. By leveraging its data-science skills, the company provides real-time insights and advanced forecasting, enabling a comprehensive understanding of past, present, and future conditions.
The company is based in Lisbon and has 16 employees, including five Ph.Ds., and delivered revenue of approximately EUR 1 million in 2023.
Its solutions are applied to provide accurate evaluations of specific scenarios and improve efficiency in ports and harbors, offshore aquaculture and renewable energy, and inland water management covering river engineering and agricultural projects.
Hidromod’s software solution, AquaSafe, is a digital decision support system designed to process mass datasets and output clear and easy-to-use analyses regarding water behaviors in a particular location or relevant to a project. Currently applied to several industries, including eight ports, AquaSafe is highly adaptable to support different sectors in building resilience against environmental and operational risks. This software powers other Hidromod services including Aquafarm—a set of innovative solutions to enhance water and agricultural management.
Expansion Strategy
The acquisition represents an opportunity to globalize and expand Hidromod’s unique expertise and services, leveraging ABL Group’s expansive global footprint and multi-disciplined teams. Further, Hidromod’s AquaSafe has significant potential for application across a wider cross-section of industries and to more markets, for which ABL Group can provide the entry point.
“We have come a long way in our 30 years’ history, and we are proud of what we have created and where we work. Our vision remains to harvest the knowledge and data available to support people in better decision-making in the long term. With ABL Group, we have the chance to expand this expert offering to support more clients in more industries and countries. This is particularly important to us as we are challenged by climate change and the need to improve water quality. For our clients and partners, this change will only enhance our offering in terms of opening up a wider pool of multi-disciplined marine and engineering expertise across more than 40 countries. For our colleagues, this creates new horizons in terms of innovation and where we work,” added José Chambel Leitão, one of the founders and managers of Hidromod.
The acquisition of Hidromod also represents an opportunity to expand ABL Group’s operations in Portugal, including the provision of its marine and renewable energy consultancy to support the local market, leveraging Hidromod’s established market presence and reputation.
“The team at Hidromod has built a veritable center of technical excellence in the field of water management and are leaders in numerical modeling for forecasting across hydrological and marine environments. Their innovation and expert knowledge will be key to continuing our growth as the leading consultancy of choice in energy transition and sustainability,” said Reuben Segal, ABL Group CEO.
The parties have not disclosed the financial details of the transaction, which is expected to be completed in October 2024.
ABL Group ASA is listed on the Oslo stock exchange.
