Grip Marine is a state-of-the-art 3,300 cubic meter Live Fish Carrier operating in Chile. Photo: AquaShip AS.

AquaShip and Intership merge to become a leading global aqua service vessel operator

NORWAY
Tuesday, December 19, 2023, 05:00 (GMT + 9)

KRISTIANSUND /PRNewswire/ -- American Industrial Partners Capital Fund VII, LP, an investment fund managed by American Industrial Partners ("AIP") will become the majority owner and controlling shareholder of AquaShip AS and Intership AS to form one of the largest operators of aquaculture service vessels globally, it said in a press release.

The merged company will be led by managing director Sverre Taknes, based in Kristiansund, and working chairman Ole-Peter Brandal, based in Hareid. 

The new company will gain significantly stronger financial muscle as a result of the acquisition. It enables ambitious growth plans in a market characterized by increasing demand for aquaculture services from both new and existing customers globally.

Inter Atlantic is a state-of-the-art 2,200 cubic meter Live Fish Carrier currently operating in the UK. Photo: Intership AS

The London-based investment company Alchemy has been the largest shareholder in Intership in recent years. They have sold their entire stake in the transaction. AILP, which is majority owned by AMERRA, has been the largest shareholder in AquaShip and retains a stake in the new company. They will also be represented on the board by AMERRA CIO, Craig Tashjian. The management from both AquaShip and Intership will be significant shareholders.

Vessels in all business areas

AquaShip is the only company that owns and operates vessels in all four main areas for aquaculture services today. Intership, for its part, has built one of the world's most modern well boat fleets, and has positioned itself as an innovative player through the introduction of new and fish-friendly freshwater treatment for salmon lice and gill diseases. 

In total, the new company will have a fleet of 39 vessels and close to 700 employees operating in Chile, Great Britain, Ireland, Canada and Norway.

"We are happy to bring in AIP as a strategic partner and majority owner in the new company. We are sure that AquaShips' recognized competence across several vessel types and local presence and experience in several regions, combined with Intership's recognized expertise in live fish transport, gives us a unique starting point in the market. Together, we aim to establish new, significant partnerships across all regions and further develop the already first-class service we offer our customers today. When we combine AIP's strengths with both AquaShip's and Intership's innovative approach and diversified services, we are confident that the new company is well positioned for the growth journey that lies ahead", says Sverre Taknes, CEO of AquaShip and CEO of the newly merged company.

"We look forward to the start of a new journey with AIP and AquaShip, and to continue to deliver and further improve services of the highest quality to our customers. We are convinced that our long-standing customer relationships, global presence, cutting-edge technology and shared dedication to serving our customers are a fantastic starting point for the way forward. Joining forces with AIP and AquaShip marks an exciting chapter for everyone at Intership", elaborates Ole Peter Brandal, CEO of Intership and working chairman of the new company.

"We look forward to working with the teams in AquaShip and Intership to contribute to the next phase of growth and to create a truly differentiated global platform in an industry that is developing rapidly", says Alex Schukin, partner in AIP.

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