BDO has provided financial due diligence services for the investment in Rovco Limited and Vaarst Limited by Legal & General Investments Limited.
Vaarst provides industry leading subsea 3D computer vision and SLAM technologies; supporting the offshore wind, wave & tidal, scientific, and maritime security sector. Rovco delivers this technology into the energy transition space, focused on use for subsea surveys in offshore wind and oil field decommissioning. It also utilises ground-breaking AI based-technology to revolutionise how energy companies manage subsea infrastructure and improve asset integrity.
The investment will seek to support Rovco's international growth ambitions, targeting the USA and Asia, as well as increasing its presence across Europe.
“Great to work with the BDO team on this transaction. They were flexible and responsive throughout, they identified the key issues and their report was user-friendly. We look forward to working with them again soon.”
Gregory Franck, Corporate Finance Analyst, Legal & General Capital Investments Limited
"Delighted to have supported L&G on their recent investment in Rovco. Another great example of growth in the offshore wind services sector."
David Bevan, Corporate Finance Partner, BDO LLP