Lloyd’s Register (LR) has agreed to sell its business assurance and cyber security division to Goldman Sachs Asset Management as the company focuses on maritime activities.
The deal is expected to be completed during the second half of 2021 subject to regulatory approval, the companies said.
When asked about the value of the transaction, an LR spokeswoman said it “exceeds $100 million”.
LR’s business assurance & inspection services division – which will be called LRQA – provides auditing and certification services and is particularly strong in the food, automotive, telecoms, manufacturing and energy sectors. The unit includes LR’s cyber security business Nettitude Group.