The private equity companies Altor and Bain Capital agreed with Cermaq in July to acquire EWOS.
November 1 marks the closing of the transaction and the beginning of a new era for EWOS as an independent feed supplier.
“EWOS has a strong global market position and our key strength is our considerable knowledge of nutrition, production and logistics, especially through our R&D company EWOS Innovation. We are set to use this strong platform for further growth,” said CEO Einar Wathne of EWOS.
As an independent company, EWOS will be seeking to recruit new employees to fill various functions at a group level. A new board of directors has also been appointed with representatives of both Altor and Bain Capital.
“Feed production is becoming more and more advanced. Restricted access to raw materials, new regulatory demands and continued need for a healthy fish will require a knowledge-based feed industry,” stated Wathne. “EWOS is uniquely poised to lead this shift.”
Altor and Bain Capital have long followed the salmon aquaculture sector and are excited to back EWOS in its next stage of growth.
“With a leading market position in the world's biggest salmon farming regions, EWOS has a solid foundation for growth. We are committed to supporting the management team's strategy for further expansion,” said Hugo Maurstad of Altor Equity Partners.
“EWOS is the undisputed leader in the shift toward sustainable value-added feeds, with world-class research facilities and an unrivaled history of successfully partnering with our customers to drive superior outcomes for the aquaculture industry. EWOS has already taken the first step towards growth in emerging markets and we expect to continue to explore opportunities globally to leverage our knowledge base, expertise, and leadership,” said Edward Han of Bain Capital.
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