Investment fund nets four aquaculture supply firms
Ambienta says acquisitions are first step towards building leading portfolio
Four well-known aquaculture suppliers have been acquired by one of Europe’s largest asset managers, Ambienta, as a first step in its ambition to become a leader in the delivery of diversified industrial technology solutions in sustainable aquaculture.
The companies are Norway-based BioMarine, Flatsetsund Engineering (FLS), and Smir, and Faroese firm GroAqua, which are all familiar names in the northern Europe salmon farming sector.
BioMarine’s product portfolio spans underwater lighting, oxygenation and water circulation, environmental monitoring and protective solutions for sea and land-based aquaculture.
Sea lice flushing
FLS’s Caligus-R gentle sea lice flushing system, used in conjunction with freshwater bath treatments, has become the preferred choice on many new wellboats, including Trident Aqua Services’ 6,500m³-capacity Inter Alba that entered service for Mowi Scotland earlier this year.
Smir’s products include waterborne feeding technology, and UV-C technology for preventive sea-lice control, while GroAqua provides a broad range of products from cameras and sensors to sludge treatment solutions and feed barges. Completion of the GroAqua transaction is subject to customary regulatory approvals.
Milena Torciano, partner at Ambienta, said the asset management company believes aquaculture has a critical role to play in feeding a growing population within planetary boundaries.
“BioMarine, FLS, Smir, and GroAqua represent exactly the kind of technology-driven businesses we look for: they solve real operational and welfare challenges for farmers today, while materially reducing the environmental footprint of the industry,” said Torciano.
“Bringing them together is the first step in building a pioneering platform that will scale the technologies the sector needs to grow sustainably.”
Leadership positions
Sverre Taknes, chief executive of Ambienta’s new aquaculture platform, said each of the acquired companies had built a leadership position by solving mission-critical challenges that farmers face every day – from feeding efficiency and oxygen management to sea-lice control and biosecurity.
“By bringing together complementary technologies and deep industry expertise, we are creating a platform that can address these challenges in a more integrated way, accelerate innovation and bring proven solutions to farmers at greater scale. Ultimately, our ambition is simple: to help farmers produce healthier fish, more efficiently and with a lower environmental impact, while supporting the sustainable growth of the aquaculture industry.”
Rúni M Hansen is executive chairman of holding company Tjaldur, an existing shareholder of GroAqua that will reinvest in the company.
Hansen, who is also board chairman of Faroese salmon farmer Bakkafrost, said: “Joining forces with Ambienta marks an exciting new chapter in this pioneering ambition to build an integrated platform delivering sustainable aquaculture technology.
“I am confident that together with the wider group, we will create significant value for our customers and industrial stakeholders and accelerate our shared ambitions. By reinvesting alongside Ambienta, we’re demonstrating our conviction in the strength of this platform and the substantial growth opportunity that lies ahead.”
Environmental megatrends
Ambienta has made the acquisitions through its Ambienta IV fund. The company, which manages more than €4.5 billion in assets, says it invests in companies driven by environmental megatrends and whose products or services improve resource efficiency or pollution control.
It says aquatic animal production today accounts for approximately 15% of animal protein consumed globally, and that fish farming is one of the most resource-efficient sources of animal protein.
But it also recognises that intensive aquaculture can increase disease and parasite risks, chemical treatments, mortality and waste, while land-based farming can generate substantial sludge and requires significant energy, and that the industry needs technologies that address these challenges.
