Italian engineering consultancy and certification group RINA has acquired the entire share capital of Foreship, a Finnish company specialising in naval architecture and marine engineering.
The company was acquired from private equity firm Vaaka Partners and Foreship’s own managers. Headquartered in Helsinki, Foreship has over 90 employees across eight global offices and reported revenues of €15.2 million ($16.4 million) for 2024.
The firm is known for its work in cruise ship design among other competencies.
In a statement, RINA said the acquisition expands its marine engineering consulting services and strengthens its presence in Northern Europe.
Ugo Salerno, RINA's Executive Chairman, acknowledged that Foreship’s expertise complements RINA's capabilities and will help advance the group's digital innovation and ship lifecycle services. Foreship will be integrated into the RINA Consulting division.
RINA's Chief Executive Officer, Carlo Luzzatto, noted Foreship's "strong" customer base, which includes major cruise lines, and said RINA aims to preserve the firm's reputation as an independent advisor.