STIM agrees deal for Pharmaq Analytiq's Scottish and Irish vet and environmental services
Medicines and fish health products supplier STIM has agreed to buy Pharmaq Analytiq’s Scottish and Irish veterinary and environmental services, it has announced.
STIM has been established in Scotland for a number of years, and the acquisition will build on STIM's business supplying pharmaceuticals and fish health products to aquaculture companies in the UK and Ireland.
Subject to the completion of the transaction, the Pharmaq Analytiq Veterinary and Environmental services team and related operating assets in Inverness, Scotland and Galway, Ireland will transfer to STIM.
A logical expansion
“In Norway, fish health and environmental services are an important part of our business, and it is logical for us to expand our business in Scotland and Ireland in the same way. I look forward to collaborating with the experienced Pharmaq Analytiq Veterinary and Environmental services team and welcoming them as colleagues to STIM,” said STIM chief executive Carl Erik Arnesen.
“STIM believes in the transformative power of knowledgeable people working together, sharing ideas and experiences. We encourage cross-disciplinary collaboration between our fish health and environmental teams in Norway and across geographies. Our new colleagues in the UK and Ireland will contribute to our common pool of knowledge, furthering our ability to assist the aquaculture industry in achieving improved biological results and sustainable operations.”
A world leader
Both STIM and Pharmaq are headquartered in Norway: STIM at Leknes in Lofoten, and Pharmaq in Bergen. In March this year, STIM founder Jim-Roger Nordly sold around 75% of the company to Sweden-headquartered investor Summa Equity.
“With Summa on our side, I am confident that STIM can become the world leader within sustainability and health, not just within the salmon industry, but for the seafood industry as a whole. There is a huge demand for advisory services within this sector, and that is something we have our eyes on," said Nordly at the time.
