Italian classification society Rina has acquired the entire share capital of US infrastructure, transport and renewable energy firm Patrick Engineering.
The Chicago-based company has annual revenue of $82m and employs around 340 people at 19 offices mainly around the US North East.
Patrick Engineering will be integrated into subsidiary Rina Consulting.
Rina, which recently revealed plans to grow by 50% by 2024 and to double its profits, said the acquisition is part of its policy to grow organically and increase its global footprint.
It said the move will also help support its clients around the world.
Rina chief executive Ugo Salerno said the acquisition presented a “unique opportunity” to help the classification society grow in the US.
“It establishes an excellent platform not only in this sector, but also to grow all Rina’s businesses to make the US one of Rina’s main hubs. Rina will gain leverage to export its highly specialised competencies in materials, lab testing and innovative technology,” he said.
Salerno pointed to Patrick Engineering’s experience in sustainability and energy transition as areas from which it would benefit.
Patrick Engineering founder Daniel Dietzler said the move would help grow the company and expand its expertise, especially in offshore wind and high-speed rail transportation.
