AKVA completes acquisition of YesMaritime – Fishupdate.com

AKVA completes acquisition of YesMaritime Published:  02 April, 2014

AKVA GROUP ASA completed the acquisition of 100% of the shares in YesMaritime AS yesterday.

AKVA group ASA has acquired 100 percent of the shares in YesMaritime AS for a price of NOK 17.5 million. NOK 8.5 million of the purchase price was paid in cash on completion.

The remaining NOK 9 million will be settled in the form of a two-year seller credit from Egersund Group AS on market terms and conditions.

YesMaritime AS was established in 1985 and has developed to become one of the larger aquaculture farming service companies in Norway.

The company is operating out of Bergen and has 29 employees. Currently the company is operating 6 vessels providing a range of services to the fish farming industry in Western Norway.

‘The acquisition of YesMaritime AS gives AKVA group ASA a good position in the market for farming services to the aquaculture industry,’ said Trond Williksen, CEO of AKVA Group ASA.

‘This market is expected to grow in the coming years and we will see a consolidation of the players. YesMaritime AS also holds significant synergies with our existing activity.’ 

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