PR Aqua sold to US company
PR Aqua (PRA) in Nanaimo on Vancouver Island got its start in the aquaculture business by building fibreglass tanks for commercial hatcheries over twenty years ago. Since then, the company has grown into one of North America’s most important supplier of water treatment and fish handling systems in North America. But with the politically motivated slowdown in the B.C. commercial aquaculture business, PRA has looked for business elsewhere, and one of its best customers has been the Alaska salmon farming business, which uses huge hatcheries and marine net pens to improve the returns of salmon for commercial purposes. One such project under development is the new Anchorage & Fairbanks Sport Fish Hatchery which upon completion will have a total rearing volume of greater than 5,300 m³ and will produce approximately 6.6 million fish for release. Recent announcements by both the US government and officials in Canada may pave the way for a further expansion of the regions’ aquaculture industries, as the world’s population passes a 7 billion landmark.
According to its web site, “Now residing in a modern manufacturing facility in Fort Collins, CO, In-Situ Inc. has become an international company with over 70 employees that specializes in the design, manufacture, and worldwide sale of scientific equipment for the environmental and water-monitoring markets”. In a joint statement announced today, both In-Situ Inc. and PR Aqua issued the following release;
In-Situ® Inc. announced today the acquisition of PR Aqua Supplies Ltd., a leading aquaculture solutions provider based in Nanaimo, BC, Canada. PR Aqua designs and integrates comprehensive systems for water treatment and fish handling in the public and private sectors on a worldwide basis. The partnership with PR Aqua adds to In-Situ Inc.'s sales, service, and training expertise in the aquaculture market. "The acquisition of PR Aqua complements our aquaculture strategy by allowing us to significantly increase our portfolio of aquaculture products and services," said Bob Blythe, President and Chief Executive Officer of In-Situ Inc. "PR Aqua's diverse engineering, equipment, and manufacturing knowledge has allowed their clients to achieve industry leading efficiencies and productivity from intensive aquaculture production. We are very fortunate to be able to partner with them."
"All of us at PR Aqua are excited about joining the In-Situ team," notes Wayne Gorrie founder and CEO of PR Aqua. "In-Situ is committed to making the investment in PR Aqua to take what we started to the next level and beyond. As part of In-Situ Inc., we will be able to bring their world-class analytical instrumentation to our clients. The expanded product line brings our clients access to In-Situ Inc.'s Rugged Dissolved Oxygen (RDO(R)) technology in addition to their broad portfolio of other water quality and quantity instrumentation. Our experience, knowledge and expertise with intensive aquaculture systems coupled with their knowledge of water quality give us an edge in providing advanced technologies to meet our clients' production expectations."
This strategic acquisition strengthens In-Situ Inc.'s presence in the aquaculture market, which began with the 2009 acquisition of Integrator Aqua Systems, Inc., a provider of solar-powered monitoring systems and aquaculture management solutions. Operationally, the existing PR Aqua office in Nanaimo, BC, will remain open and will retain all existing personnel. The acquisition will benefit communities in Colorado and Nanaimo as a variety of new jobs will be created.
