Gael Force nets salmon pen maker Fusion Marine
Two of the best-known names in the Scottish aquaculture supply chain - Gael Force and Fusion Marine – have agreed a deal in which fish farm net pen maker Fusion will become part of Gael Force Group.
The deal, which will result in Inverness-based Gael Force acquiring 75% of the outstanding share capital of Fusion for an undisclosed sum, is expected to be concluded early next month.
In a joint statement, the companies said the move was an excellent strategic fit that would ensure they could jointly invest in innovative new products while continuing to remain competitive.
Gael Force owner and managing director, Stewart Graham, said discussions between the companies had highlighted how aligned they are.
Graham, co-chair of the Aquaculture Industry Leadership Group, added: “Our combined expertise, experience and product range will help both Fusion and Gael Force drive growth both in the Scottish market and in our target export markets too.
“All of us at Gael Force are hugely excited by the growth opportunities this deal presents and look forward to working with our friends at Fusion Marine to grow our combined business.”
Combined geographical coverage
Fusion managing director Stephen Divers said: “We have great confidence that working together in the Gael Force Group we are even better positioned to deliver value to the market in support of our long-standing key customers. Our planned investment in innovative new product development in the pens market will be an early example of that.
“We also see added benefit for customers with our combined geographical coverage, including that of our ongoing servicing out of our location in Oban.”
The companies said that once completed, the deal will see Gael Force further expand and develop its capabilities in end-to-end supply and manufacture of fish farming products and services.
The company, which employs almost 200 people across the UK, manufactures feed barges, feeding systems, mooring systems, underwater cameras and aquaculture technology products.
Fusion Marine, based at Barcaldine, Oban, was established in 1991 as part of Fusion Group and has a successful management buy-out in 2007.
Its plastic fish farm pens are used in Scotland and internationally.
