Torghatten Aqua acquires INAQ
Torghatten Aqua AS acquires 66 % of the shares in INAQ AS from Akva Fonds AS, and the employees of the company will take over the remaining 34 %. The acquisition is important for further growth and development of both companies in line with the companies' ambitious strategies and plans.
The purchase price for the shares acquired by Torghatten Aqua is NOK 19.8 million and will be settled with 50 % in shares and 50 % in cash, i.e. 141,428 shares in Torghatten Aqua and NOK 9.9 million in cash.
- In order to develop the national and international seafood industry of the future, access to up-to-date and relevant expertise will be one of the most important success factors. Through its subsidiary Campus BLÅ AS, Torghatten Aqua AS has already established a basic educational programme in aquaculture and fisheries. In order to realise Torghatten Aqua's ambitious growth plans, access to the best possible expertise is important. The acquisition of 66 % of the shares in INAQ, one of Norway's leading consultancy companies for the seafood industry, is a strategic milestone that will help to catalyse the Group's development, says CEO of Torghatten Aqua, Øyvind Løvdahl.
- Torghatten Aqua AS already has long experience of co-operating with the advisors in INAQ. The fact that the employees of INAQ AS themselves become owners of 34% of the company, we see as very positive and helps to ensure the future availability of expertise, says Løvdahl.
- Ahead of the company's 25th anniversary next year, it was time to develop a new strategy for the further development of INAQ," says Frode Blakstad, owner of Akva Fonds and chairman of INAQ. Strategy is one of the things we're good at at INAQ! Over the past year, we have recruited several new employees, hired a new CEO and developed a new visual profile for the company. Now we're ready to take the next step in repositioning the company for the future. We are doing this by bringing in new investors who will build a strong bridge between the past and the future of the company.
- Knowledge, expertise and business development are strong common denominators for INAQ and Torghatten Aqua, and the companies have worked closely together over time, says Nina Santi, CEO of INAQ.
- Through Torghatten Aqua, INAQ has gained long-term industrial owners who will give the company a strong network, while the broad ownership of Torghatten Aqua, including the fact that the company is listed on Euronext NOTC, secures INAQ's position as an independent and stand-alone player for customers in Norway and internationally. There are also several potential synergies in this collaboration, perhaps especially with Campus BLÅ in the development and dissemination of knowledge and expertise. This initially applies nationally, but also internationally in the longer term, says Santi and emphasises that INAQ's employees have great faith in the further development of the company and are joining the ownership side with a stake of 34 %.
INAQ AS www.inaq.no provides advisory services to seafood companies and related businesses both nationally and internationally. INAQ assists seafood companies with strategic development and management support and assists owners and investors in transactions within the sector. INAQ also contributes expertise in sustainability and corporate governance, which is a strategic focus area for the company.
Torghatten Aqua AS www.torghattenaqua.no is an investment and development company listed on Euronext NOTC, with the main focus on aquaculture, research and development, tourism and blue education. Every year, the group produces 30-40 million salmon meals for the world and has 40,000 visitors to its display facilities and cabins/restaurants. Approximately 500 pupils, students and course participants are educated at Campus BLÅ. After 6 years of upper secondary school, the school has 0 - ZERO - dropouts!
Contact persons:
- Inaq v/ CEO/Adm.dir Nina Santi 411 48 138
- Torghatten Aqua AS CEO/Managing Director Øyvind Løvdahl 95725174
- Frode Blakstad 913 68 915
Norwegian