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Steinsvik acquires Ocea

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Steinsvik acquires OceaPublished: 15.12.2014

The Steinsvik Group has today acquired a 100% shareholding in the companies Ocea AS and Ocea Chile S.A.  The seller is Ocea Gruppen AS. The subsidiaries of Ocea AS – Ocea UK Limited and Tromotech OÜ – are included in the acquisition.

 

«This is a milestone for us », says Bjørn M. Apeland, commenting on the acquisition. «Our aim is to build a global company and we have great ambitions for the future. Both of the companies have leading products in the sector and the acquisition will allow us to extract synergies. This will contribute to an even greater focus on R&D and enable us to play an even more active role in technological development within the industry. Moreover, the acquisition will provide us with a number of new products, creating a basis for further growth. We realise that size is important, and this acquisition ensures that we will have a far higher volume base», he adds.   

 

The chairman of Ocea Gruppen AS, Dag Sørsdahl, is very satisfied with the Steinsvik Group’s acquisition of Ocea. «We believe that this is the right industrial solution for the company», he says. «Ocea has a lot to contribute, and we are selling a healthy company that is developing well in both Norway and Chile. Ocea has a number of new products, and Ocea Thermolicer will be a particularly important tool for the industry in the work being done to combat lice.  

 

The acquisition has been financed by the investment company Kverva AS. «We  believe that the industry represented by the suppliers to the aquaculture industry has great potential, and the combination of Ocea and Steinsvik presents an exciting investment opportunity. This has been a rapid process, and for this reason Kverva has financed Steinsvik’s acquisition of Ocea with the option of converting this to 50% ownership at a later date», says Helge  Moen, managing director of Kverva.

 

Steinsvik Group has specialised in supplying products and solutions that can withstand harsh conditions for a long time to the aquaculture, maritime and oil and gas industries. The Group is based in Haugesund with offices/subsidiaries in Bergen, Stord, Trondheim, Frøya, Tromsø, Scotland, Chile and Vietnam.

 

Ocea is a leading supplier of solutions and products for the aquaculture industry. The company develops and provides a broad range of equipment and software for all areas of the aquaculture industry. Ocea’s aim is to be a preferred cooperation partner in the field of aquaculture technology, and it is an organisation which places a strong emphasis on flexibility in its dealings with an industry that is in constant development. The company is well established in all of its core markets, and it has subsidiaries in Chile and the UK.

 

The Group is expected to have an aggregate turnover in the order of NOK 600 million in 2014.

 

If you have any questions, please contact;

 

Bjørn M. Apeland, Tel.: +47 90147560

Dag Sørsdahl, Tel.: +4792403319