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Merger creates aquaculture service vessel giant

Atlantic Salmon Mergers and acquisitions +2 more

An investment fund managed by American Industrial Partners announced today that it has become the majority shareholder in AquaShip and Intership, and will merge the two companies to form one of the largest, most diversified aqua service vessel operators globally.

Grip Marine: one of Intership's wellboat fleet

AquaShip is the only company that owns and operates vessels in all four main areas of aqua services. Intership has built one of the world's most modern wellboat fleets and has proven to be an innovative player by bringing new freshwater treatment for lice and gill diseases into the market. Together, the company will have a fleet of 39 vessels and nearly 700 employees operating in Chile, the United Kingdom, Ireland, Canada, and Norway.

The combined company will be led by CEO Sverre Taknes, operating from Kristiansund and executive chairman Ole-Peter Brandal, operating from Hareid. According to AIP, the combined company “will benefit from significant access to capital as a result of the transaction, enabling execution of ambitious growth plans on the back of increasing demand for diversified aqua services from both new and established customers globally.”

“We are pleased to bring in AIP as a strategic partner and majority owner of the new combined company. We believe we have a unique platform, combining AquaShip’s recognised competencies across multiple vessel types and local hands-on experience in several regions with Intership’s renowned expertise in live fish carriers. Together, we aim to unlock new, impactful partnerships across all regions and further enhance our already excellent service to customers. By leveraging AIP’s capabilities, combined with both AquaShip’s and Intership’s innovative approach and diversified platform, we are confident that the combined company is well positioned for the growth journey ahead,” said Sverre Taknes, CEO of the combined company.

Ole Peter Brandal, chairman of the combined company, added: “We look forward to embarking on a new journey with AIP and AquaShip and continuing our mission of delivering and even further enhancing the highest quality service to our clients. We're convinced that our longstanding customer relationships, global footprint, pioneering technology, and dedication to serving our customers will provide a valuable platform for the path ahead. Joining forces with AIP and AquaShip marks an exciting chapter for everyone at Intership.”

London-based investment firm Alchemy was the largest shareholder in Intership until it sold its entire stake in the transaction. AILP, with majority ownership by Amerra, previously the largest shareholder in AquaShip, will continue as a shareholder in the combined company and will be represented on the board by the CIO of Amerra, Craig Tashjian. Management from both companies will also continue as significant shareholders.

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