Akva Group on Tuesday announced it completed the acquisition of Norway-based aquaculture farming service company YesMaritime for NOK 17.5 million (USD 2.9 million, EUR 2.13 million).
NOK 8.5 million (USD 1.4 million, EUR 1.03 million) of the cost was paid in completion, with the remaining amount to be settled in the form of a two-year seller credit from Egersund Group on market terms and conditions.
YesMaritime has 29 employees and currently operates six vessels providing a range of services to the fish farming industry in Western Norway.
“The acquisition of YesMaritime gives Akva group a good position in the market for farming services to the aquaculture industry. This market is expected to grow in the coming years and we will see a consolidation of the players,” said Trond Williksen, AKva CEO. “YesMaritime also holds significant synergies with our existing activity.”
