Lynda Kiernan

AKVA Marine Services AS is seeking to strengthen its position in Norway’s aquaculture farming services sector through its planned acquisition of inshore/offshore diving and aquaculture services firm, Techno Dive AS.

Headquartered in Byrne, Norway, AKVA is a publicly listed global aquaculture business with offices in eight countries and a total turnover of NOK1.4 billion (US$172.3 million) last year. The firm provides a full range of products and services for both cage and land-based aquaculture operations.

Techno Dive had an annual turnover of NOK 25 million (US$3.04 million) last year and is a leading provider of subsea services to the aquaculture sector.

Both parties are currently involved in due diligence processes and final negotiations with an all-cash deal scheduled to be closed by the end of June 2016.

Aquaculture plays a major role in contributing to Norway’s economy. The country is the second largest seafood exporter in the world and is the world’s largest producer of Atlantic salmon, according to Norway’s official fisheries site. Fish farming is currently active in 160 municipalities along Norway’s coast, directly employing 5,900 in farming operations and 21,000 in the entire value chain.

In 2014, Norway’s fish farming industry produced 1.33 million tons of fish with a value of NOK 44.3 billion (US$5.45 billion), representing 10% growth year on year over 2013, according to Statistics Norway.