Consolidation set to continue
The trend towards greater consolidation of aquaculture equipment suppliers is likely to continue, according to the founder of Steinsvik, Bjorn Apeland.
Over the past few weeks Storvik Aqua AS was acquired by Vard Group and the Icelandic equipment supplier Vaki was swallowed Pentair. More will come, Apeland believes.
“One of the drivers in this is the decline in the oil sector, which that has driven increased focus on development and new markets for established companies. Having lost a large part of their revenue base they need to diversify,” Apeland told kyst.no.
But he believes that this is only one of several explanations. Equally important is the fact that several of the major international companies have become aware of the enormous potential that lies in the aquaculture industry.
“More surprises”
“I think we will get more surprises, in the sense that players from outside the aquaculture sector will become involved,” said Apeland, referring to Mitsubishi’s purchase of Cermaq and Fjordlaks which was also bought by Japanese interests.
Apeland, who owns 50% of Steinsvik, may find himself in a similar situation before long.
“Who knows, but we are also a company that might be interesting for bigger players,” he told kyst.no.
Last year Steinsvik had a turnover of over NOK 708 million and an operating profit of just over NOK 82 million.
