SpecTec

Supporting software for a vessel’s lifetime

SpecTec was originally founded in Norway in the 1980s. Since the acquisition by Omegro in 2012, the business has been split into 3 separate business units focusing on distinct sectors of the maritime market: Commercial Shipping (including Oil and Gas), Cruise, and Superyachts. SpecTec’s product offering is AMOS, the Asset Management Operating System specially tailored for the marine environment.

The company supports a wide variety of ocean-going commercial vessels that include container vessels, tankers, LNG, and bulk carriers, but also services remote assets such as oil rigs.

AMOS is seen as the maintenance and procurement standard for the maritime industry and overall, the primary focus for SpecTec Shipping is in remote asset management.

Omegro acquisition

Omegro acquired SpecTec in 2012. Prior to the Omegro acquisition, SpecTec drove strong revenue growth, but didn’t have the financial stability to reassure customers that they were in it for the long haul. With the financial backing of a strong parent company, customers are now assured that if they install AMOS on a vessel that’s expected to last 25 years, the software solution will be supported for the full life of the vessel.

“To any of our customers, we can confidently say we will be here to support that software for the lifetime of that vessel.”

– Roddy MacLennan, Group Leader, Omegro

Future growth for SpecTec

Leveraging Omegro’s data and benchmarking best practices helped SpecTec Shipping gain greater clarity over the profitability of individual customers and specific products, leading to new insights on where to invest. The company’s three-year plan focuses on bringing the rich functionality of the AMOS platform that customers have depended on for 35 years to more modernised web and mobile versions. Customers can continue to use AMOS for decades because it has the experience, the functionality, and is now on a modern platform that is fit for the future.

For companies making large investments into a mission-critical asset management system, buying a solution that is here to stay is essential. Raising capital for growth can be one of the hardest things a CEO has to do. Going to private equity for funding will always come with strings attached and usually means giving up an element of control. When Omegro evaluates a proposed initiative, the focus is on securing the business for the long term rather than supercharging growth at the expense of sustainability. A culture of autonomy means company leadership is still in charge of the day-to-day decisions.

“Longevity is very important for people who are selling their company. If they have built up a business, having the confidence that the business is genuinely going to be here for the long term is just as important as the sale price.”

– Roddy MacLennan, Group Leader, Omegro

Developing future leaders

Five years after inheriting a newly formed business with no management team in place, SpecTec Shipping has built a strong team that’s constantly learning and improving. With the business now essentially running itself, management can now focus more on other strategic initiatives either for SpecTec or potentially to support other business leaders within the wider portfolio at Omegro.

“Omegro has been very supportive of us pursuing market opportunities that deliver growth and exploit our deep sector knowledge and experience, rather than watering ourselves down thinly across many different maritime domains.”

– Adam Dennett, CEO, SpecTec

Adam Dennett - CEO SpecTec

While owners find a stable, forever home for their business, employees discover opportunities to rise within their company and beyond, whether that’s at one of Omegro’s hundreds of companies or within the corporate structure. At any level of the company, there are many ways to expand your skills and grow a career.