Osborne Clarke advises Covelya Group on its CAD $615m sale to Kraken Robotics

International legal practice Osborne Clarke has advised Covelya Group, a leading international provider of mission-critical underwater technology solutions, on its completed sale to Kraken Robotics Inc. for a total value of approximately CAD $615 million, comprising a mix of cash and Kraken common shares.

Covelya Group, headquartered in the UK, designs, manufactures, sells and supports high‑performance underwater technology for maritime defence and commercial customers globally. Through its subsidiary companies, Covelya Group provides navigation, communication, positioning, imaging, measuring and monitoring solutions for maritime uncrewed systems, as well as crewed surface vessels. The group operates 12 facilities across North America, South America, Europe and Asia Pacific and has a history of more than 50 years in underwater technology innovation.

This transaction underscores Osborne Clarke’s expertise in advising on complex, cross‑border M&A in highly regulated and technology-rich sectors. It highlights the firm's capabilities in defence and national security, maritime and offshore industries, and advanced industrial technologies, as well as its experience in navigating multi-jurisdictional regulatory, tax and structuring issues on international deals.

Covelya Group has built a world-class subsea technology business with an outstanding reputation in defence and commercial markets. This transaction is a pivotal milestone in Covelya’s growth story and creates a truly global platform in underwater technology. It was a pleasure to support the Covelya team on such a strategically important, multi-jurisdictional deal and to help deliver a successful outcome for all stakeholders.

Alistair Francis, Partner and Head of Corporate, Osborne Clarke.

The cross-practice Osborne Clarke team was led by partner and Head of Corporate Alistair Francis, supported by associate director Lottie France and associate Tim Rouse (Corporate), partner Tracey Wright and senior associate Rohesia Vince‑Brown (Tax), and legal director Sarah Beard (Real Estate).