Aquaship/Intership acquires FSV Group
The service vessel companies prepare for joint growth, development, and innovation in global aquaculture. Together, they have their own technology, 60 boats, and around 1,000 employees.
Aquaship AS / Intership AS has, through its majority owner, funds managed by American Industrial Partners (AIP), acquired FSV Group AS (FSV). Together, the companies claim to become the world's second-largest provider of maritime services to the aquaculture industry, with a comprehensive range of services and vessels tailored to the industry's changing needs, including transport, wellboat services, feed transport, harvesting, and service services.
"We fit incredibly well together. Our companies think alike and are built around the same culture of innovation, novelty, and finding good solutions for the industry's challenges and opportunities. At the same time, we are specialised in different parts of the service industry and markets globally. Together, we can deliver even more types of vessels and services, with the same high quality," said Aquaship/Intership chief exceutive Ole Peter Brandal in a press release.
The merger brings together three companies with market-leading expertise, unique resources, and high-tech solutions for the industry. The new company will have its main bases in Hareid, Molde, and Kristiansund in Møre og Romsdal.
60 vessels
In total, the company will have a fleet of 60 vessels, with eight new vessels under construction. It will have around 1,000 employees operating in Norway, Chile, the United Kingdom, Ireland, Canada, and the Faroe Islands.
"We are gearing up for growth across the entire spectrum of innovative technology and expertise, within each of the critical services that the aquaculture industry increasingly demands globally. With global innovation environments that continue to develop solutions to improve vessel operations and increase production volume and value for farmers, we now have one of the industry's largest networks of vessel types and geographical areas to collaborate across," said FSV chief executive Arild Aasmyr.
"We will continue to work hard to anticipate and exceed customer expectations and needs. This merger helps us stay even further ahead of developments," added Aasmyr.
Aquaship, which merged with Intership a year ago, has been the only company that owns and operates vessels in all four main areas of aquaculture services with a global presence.
“Over the past year, the team at Aquaship and Intership have worked closely to deliver exceptional service for our customers. Now, we look forward to collaborating with the FSV team to create a highly complementary combination that will enable us to further support our customers as a key infrastructure partner in all manners of their aquaculture operations. This is an exceptional global platform in a rapidly growing and evolving industry,” said Alex Schukin, chairman of Aquaship/Intership and a partner at AIP.
Seeking new employees
The chairman of FSV, Per Olav Myrstad, founded the company together with Endre Brekstad in 2011. He says the owners are very pleased with the combination now taking shape.
"We have grown to a size where it requires even greater strength and even more capacity and knowledge to take the next step. We have thoroughly considered different alternatives, and we believe this is the optimal way to ensure customers an even better and broader range of services, and to ensure employees an exciting workday and new development opportunities," said Myrstad.
Brandal continues as the CEO of the group of companies, while Aasmyr continues as the CEO of FSV. The three companies are already looking for more employees, both on land and at sea.
"There are synergies and scale effects that strengthen our competitiveness in this. But they are not about fewer employees. On the contrary, we need more people both in Norway and globally. The most important thing about joining forces is that customers get a better offer. In addition, we can offer employees many more exciting career opportunities," said Aasmyr.
