What SRC Group does

SRC Group is a private, for-profit Estonian maritime services company headquartered in Jüri, Estonia, founded in 2001 by Hannes Lilp, who continues to lead the firm as founder, chairman, and CEO. The company operates with 51-100 employees and is structured as a single business unit serving the marine and offshore vertical. Its website is operational (src.ee), though publicly available information is limited.

The company offers three integrated service lines: Marine & Offshore Repair (maintenance and restoration of vessels and offshore structures), Retrofit (upgrades and modifications to existing marine and offshore equipment), and EPCI (Engineering, Procurement, Construction, and Installation), providing full lifecycle project delivery. These services are positioned as complementary capabilities within one unified offering rather than a platform-plus-modules architecture. The company serves the Marine & Offshore Industry vertical, addressing pain points around repair, retrofit, and integrated EPCI delivery for marine and offshore assets; specific reference customers, contracts, or pricing are not publicly disclosed.

The business model is project-based industrial services revenue, with no publicly disclosed pricing model, no disclosed ownership or investor base, no funding rounds, no M&A activity, no partnerships, and no certifications or compliance details catalogued in the available source material. Distribution and marketing channels are also not disclosed. Operating geography specifics beyond the Estonian headquarters are not detailed, and no specific markets served are listed in the source data.

Name

SRC Group

Website

https://src.ee

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

51–100 employees

Short description

SRC Group is a private Estonian maritime services firm, founded in 2001 and headquartered in Jüri, offering integrated marine and offshore repair, retrofit, and full EPCI (engineering, procurement, construction, installation) services to shipowners, offshore operators, and marine industrial clients.

Ownership category

akta.pro rank

Product category

Marine Engineering Services

NAICS

Ship Building and Repairing (336611), Support Activities for Water Transportation (4883)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Marine Retrofit, Conversion & Life-Extension (Class/Regulatory Upgrades) (TLAKAKAK)

akta.pro secondary industries

Marine Outfitting & Interior Refurbishment (TLAKAKAL), Propulsion MRO, Spares & Field Service (Overhauls, retrofits, upgrades) (IMAJAHAN), Engine & Mechanical Overhaul (Main/Aux Engines, Pumps, Valves, Compressors) (TLAHAMAD), Piping, Mechanical & Auxiliaries Repair (Pumps, Valves, Heat Exchangers, Boilers) (IMAJAFAE)

Keywords

• Marine engineering services
• Offshore repair
• Ship retrofit
• EPCI services
• Industrial engineering

Headquarters

HQ city

Jüri

HQ country

Estonia

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Core offering

SRC Group provides Marine & Offshore Repair, Retrofit, and EPCI (Engineering, Procurement, Construction, and Installation) services to ship owners, cruise operators, and offshore asset owners. The company also delivers cruise ship interior refit, mechanical installations, industrial engineering, and supporting technical services through a workforce of 51-100 employees based in Jüri, Estonia.

Product overview

SRC Group provides marine and offshore industrial services, operating as a single unified service offering rather than a platform-plus-modules architecture. The company offers three integrated service lines: Marine & Offshore Repair (maintenance and restoration), Retrofit (upgrades and modifications), and EPCI (full project lifecycle from engineering through installation). These services are offered as complementary capabilities within a single business unit focused on the marine and offshore sector.

Differentiator

Problem solved

Functional benefit

Products and services

• Marine & Offshore Repair Repair services for marine vessels and offshore assets, delivered to ship owners and offshore operators requiring qualified mechanical and structural intervention.
• Retrofit Retrofit services for marine and offshore assets, enabling modification, upgrade, and reconfiguration of existing vessels and offshore structures for ship owners and offshore operators.
• EPCI (Engineering, Procurement, Construction, and Installation) Integrated Engineering, Procurement, Construction, and Installation services for marine and offshore projects, providing end-to-end project delivery to ship owners, cruise operators, and offshore asset owners.
• Cruise Interior Refit Refurbishment and refit of cruise ship interiors, including mechanical installations, delivered to cruise operators.
• Industrial Engineering and Technical Services Industrial engineering and supporting technical services that underpin SRC Group's marine and offshore project delivery, including qualified welding and mechanical fitting support.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves2 records

Expansion highlights1 record

Broad incumbents

• Meyer Turku: Major Finnish cruise shipbuilder also delivering ship conversions, refurbishment, and complex retrofits — directly relevant to SRC's cruise interior refit positioning, but at much larger scale.
• Wärtsilä: Global marine technology group providing ship engine and propulsion MRO, retrofit upgrades, and lifecycle services across the merchant, cruise, and offshore segments. Overlaps SRC's mechanical installation and retrofit work but at vastly larger scale.
• Damen Shipyards: Dutch global shipbuilder operating numerous yards with repair, refit, conversion, and EPCI capabilities across multiple vessel types. Broad incumbent with overlap on SRC's marine repair/retrofit core.
• Vard (Fincantieri): Norway-headquartered shipbuilder (part of Fincantieri) building offshore service vessels, cruise expedition ships, and performing specialized vessel conversions and refits. Comparable in offshore EPCI-adjacent capabilities.

Regional players

• Remontowa Shipbuilding: One of Poland's largest shipyards, specializing in ship repairs, conversions, and offshore structures across the Baltic and Northern European markets. Comparable retrofit/conversion and EPCI services for similar customer base.

Direct peers

• BLRT Grupp: Estonia-headquartered ship repair, retrofit, and industrial engineering group offering marine/offshore services from the same Baltic cluster as SRC. Direct overlap on repair, conversion, and integrated project delivery for vessels and offshore structures.
• Tallinn Shipyard (Tallinna Laevatehas): Estonian ship repair yard providing vessel maintenance, refit, and conversion services in the same geography as SRC. Directly competes for regional repair and retrofit scopes.

Emerging players

• Alfa Laval Marine: Marine division of Alfa Laval supplying separators, heat exchangers, boilers, and related retrofit/MRO equipment plus service to shipyards and operators. Comparable to SRC's mechanical and auxiliary work, though primarily an OEM-supplier model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SRC Group