Aquaship / Intership orders new state-of-the-art wellboat

Aquaship / Intership orders new state-of-the-art wellboat

Aquaship/Intership continues its commitment to growth. The company has contracted a new battery-hybrid wellboat, equipped with high-tech solutions to reduce emissions and ensure gentle and efficient fish handling.

“This boat will be a fantastic addition to what is already one of the world’s most modern fleets,” says Ole Peter Brandal, CEO of Aquaship / Intership.

Aquaship / Intership has 700 employees, with operations in Chile, Scotland, Ireland, Canada, and Norway. The company has its headquarters in Kristiansund and Hareid.

The new wellboat, with a capacity of 4000 m³, will be the 41st vessel in the company’s fleet. The wellboat will be a battery-hybrid, with a significant battery pack, and will be equipped with a specially designed reverse osmosis system.

“We see and hear what our customers need, and we invest in boats that meet both today’s and tomorrow’s demands. There are new and ever-increasing requirements for fish health, fish welfare, and environmental and climate emissions. I am proud that we are investing in the best wellboats on the market that deliver on these aspects,” says Brandal.

The boat is designed by Norwegian Salt Ship Design and built by the Spanish shipyard Zamakona in Bilbao, which has previously built two wellboats for Aquaship / Intership. MIL Shipping has facilitated the contracting.

“It requires a great deal of knowledge and experience to build state-of-the-art wellboats. We work with partners we know well and who we know deliver the best available technology on the market. The boat will also have lots of Norwegian equipment ” says Brandal.

Focus on Fish Health
Aquaship / Intership has been a leader in the development of freshwater treatment for lice and AGD (amoebic gill disease) using reverse osmosis for many years. The company has accumulated extensive operational experience from freshwater production and treatment. The new boat will have a large reverse osmosis system with a capacity of 10,000 m³, as well as being prepared for combination treatment.

“With this system, we can fill the boat with self-produced freshwater in half a day. The treatment scores very well on all welfare indicators, and the fish start feeding immediately after treatment. This provides economic, welfare, and environmental benefits,” says Brandal.

The battery-hybrid technology ensures optimal energy efficiency, significantly reducing both the carbon footprint and environmental impact.

“These are important advancements and investments to make now. To deliver the best possible services to our customers for many years to come, we need to cut emissions faster and better,” says Brandal.

Investment with New Owners
The new wellboat is the first to be contracted in the industry since the company last contracted two boats in 2022. Recently, it was announced that Aquaship / Intership is purchasing another state-of-the-art wellboat, “Bjørg Pauline,” from Nordlaks. This expansion comes after Aquaship / Intership merged in December and brought in American Industrial Partners (AIP) as the largest owner.

“We have a clear growth strategy in Norway and internationally. For us, it is both necessary and important to continue investing to deliver on what the market needs ahead. Therefore, we depend on investing in the best boats and the very latest technology. We are very pleased to have owners who make this possible,” says Brandal.

About Aquaship/Intership:
AquaShip / Intership is an aquaculture service conglomerate with headquarters in Kristiansund and Hareid, offering a comprehensive set of maritime services to the world’s leading salmon farming companies. With a fleet consisting of 40 different vessels, including wellboats for live fish, support vessels, harvesting boats, feed boats, service boats, and three new boats under construction, the company has a significant presence in Norway, Scotland, Chile, Canada, and Ireland. The company aims to be a market leader in fish welfare, offering services throughout the entire process from smolt to grading, treatment, and harvesting. Through its high-tech fleet, equipped with innovative and state-of-the-art systems, AquaShip / Intership ensures safe, environmentally friendly, and sustainable handling and transport of live fish.

Aquaship/Intership acquires well-boat MS “Bjørg Pauline” from Nordlaks

Aquaship/Intership acquires well-boat MS “Bjørg Pauline” from Nordlaks

Aquaship/Intership purchases the state-of-the-art well-boat MS “Bjørg Pauline” from Nordlaks. The vessel is leased back to Nordlaks, and all employees are offered continued employment.


MS “Bjørg Pauline” was delivered in March 2021. The vessel is the world’s first well-boat with pure LNG propulsion, a battery pack, and shore power connection with large capacity. The technology reduces CO2 emissions by around 20 percent and NOx emissions by 90 percent.

Nordlaks and Aquaship/Intership agreed on the sale on Friday, June 21, 2024. The agreement involves chartering the vessel back and offering all crew members continued employment with the same salary and conditions.


“It has been important for us to ensure that all employees are taken care of. By leasing the vessel back, we also ensure continuity and that we will continue to have the same high quality on the well-boat side,” says CEO of Nordlaks, Eirik Welde.

Good Cooperation
AquaShip/Intership merged in December 2023 and is a leading global operator of service vessels for aquaculture. With this purchase, the company has a fleet of 40 vessels and nearly 700 employees operating in Chile, the United Kingdom, Ireland, Canada, and Norway.

“We have one of the world’s most modern fleets, which is very well complemented by this boat. It fits with our growth strategy in Norway. We have a very good cooperation with Nordlaks today and look forward to working even more together in the future. Nordlaks is a company that is always driving innovation and development,” says CEO of AquaShip/Intership, Ole Peter Brandal.

Nordlaks and  then Intership also entered into a similar sale and leaseback agreement for a well-boat in 2018. MS “Bjørg Pauline” is named after Nordlaks’ owner’s mother Inge Berg and will retain its name after the business transfer.


“The boat has a good name, which we are happy to keep and will be proud to have in our fleet,” says Brandal.

 

About Nordlaks:
Nordlaks is a family-owned aquaculture company known for its commitment to quality, fish health, environment, and social responsibility. The company has its headquarters in Vesterålen, where it was established in 1989 by Inge Berg. Today, the company is the 11th largest in the world in terms of salmon production. Nordlaks operates its own farming, hatchery, and processing plants, maintaining full control over the entire value chain. With a strong focus on innovation and environmental responsibility, they have developed groundbreaking solutions like Havfarmen, a floating farming unit for open sea. Nordlaks exports to more than 40 countries and is a significant employer in the region, with over 800 employees.

 

About Aquaship/Intership:
AquaShip/Intership is an aquaculture service conglomerate with headquarters in Kristiansund and Hareid, offering a comprehensive set of maritime services to the world’s leading salmon farming companies. With a fleet of 40 different vessels, including well-boats for live fish, support vessels, harvesting boats, feed boats, service boats, and three new boats under construction, the company has a significant presence in Norway, Scotland, Chile, Canada, and Ireland. The company aims to be a market leader in fish welfare, offering services all the way from smolt to grading, treatment, and harvesting. Through its high-tech fleet, equipped with innovative and state-of-the-art systems, AquaShip/Intership ensures safe, environmentally friendly, and sustainable handling and transport of live fish.

 

“Inter Scotia” naming ceremony

“Inter Scotia” naming ceremony

Intership, held a naming ceremony for one of the market´s most advanced well boats “Inter Scotia” on Saturday January 27. The well boat is the second of two newbuilds from Zamakona Yards Bilbao. “Inter Scotia” is designed by Salt Ship Design, is a battery hybrid vessel and has a well capacity of 2,500 m3.

“Inter Scotia” is designed with a focus on promoting good fish welfare, fish handling and biosecurity. The fish handling system is provided by MMC First Process and the vessel is equipped with a high capacity freshwater production system, capable of producing 5,000 m3 of freshwater per day, for fish treatment.

In conjunction with the naming ceremony, Intership invited locals and visitors to an open vessel, with great success. There were guided tours on-board “Inter Scotia”, brass-band music and gifts for the children. The vessel´s godmother is Juliana Brandal, who is the wife of Intership´s CEO, Ole Peter Brandal.

Following the naming ceremony, invited guests were taken aboard “Inter Scotia” for a short voyage, and afterwards, the vessel went directly to Myklebust yard for installation of the latest delousing system, FLS Caligus R600. The combination of freshwater bath and flushing fish through the FLS system is a very efficient and gentle way to remove sea lice and gill infections in the same operation.

“This is the second naming ceremony we have arranged in less than a year, and we are delighted that we have had the opportunity to hold both at our “home ground”. The importance of showcasing our boats and talking about our operation to the local community around us is substantial. Naturally, it is a great pleasure that the “open ship” led to several hundred people coming aboard to look at the boat, the equipment, and to talk with the crew and staff. As I have mentioned many times before, our region is world-leading within our segment and it is important for us to create awareness around this, highlighting the opportunities that lie within the well boat industry and the aquaculture industry in general,” says CEO Ole Peter Brandal.

Intership participates in “innovation camp”

Intership participates in “innovation camp”

The last week, Intership has been part in organizing an Innovation Camp for 10th graders in Hareid. This is part of the learning and industry project under the auspices of Vekst i Hareid.

The students have been divided into groups which, during a school week, are challenged on innovation and future scenarios.

Intership together with Hareid ungdomskule, Ungt Entreprenørskap, Hareid Group and Dimo and Hareid kommune, the Innovation Camp is carried out as part of the learning and industry project under the auspices of Vekst i Hareid. 

All companies have challenged the students on different topics and we wish to thank them for the good collaboration during the week and for the good presentations!

AquaShip and Intership merge to lead global aquatic service fleet.

AquaShip and Intership merge to lead global aquatic service fleet.

AquaShip AS and Intership AS merge to become a leading global aqua service vessel operator supported by new majority shareholder American Industrial Partners Capital Fund VII.

KRISTIANSUND AND HAREID – 18th of December, 2023 – American Industrial Partners Capital Fund VII, LP, an investment fund managed by American Industrial Partners (“AIP” or “American Industrial Partners”) today announced that it has become the majority and controlling shareholder in AquaShip AS (“AquaShip”) and Intership AS (“Intership”) and will merge the two companies to form one of the largest, most diversified aqua service vessel operators globally.

The combined company will be led by CEO Sverre Taknes operating from Kristiansund and Executive Chairman Ole-Peter Brandal operating from Hareid. The combination brings together two complementary businesses with leading operating expertise, differentiated and high-quality assets, and technological innovation. The combined company will benefit from significant access to capital as a result of the transaction, enabling execution of ambitious growth plans on the back of increasing demand for diversified aqua services from both new and established customers globally.

London-based investment firm Alchemy was the largest shareholder in Intership until it sold its entire stake in the transaction. AILP, with majority ownership by AMERRA, which has been the largest shareholder in AquaShip, will continue as a major shareholder in the combined company and be represented on the Board by the CIO of AMERRA, Craig Tashjian. Management from both companies will also continue as significant shareholders.

AquaShip is the only company that owns and operates vessels in all four main areas of aqua services. Intership has built one of the world’s most modern wellboat fleets and has proven to be an innovative player by bringing new and fish-friendly freshwater treatment for lice and gill diseases into the market. Together, the company will have a fleet of 39 vessels and nearly 700 employees operating in Chile, the United Kingdom, Ireland, Canada, and Norway.

“We are pleased to bring in AIP as a strategic partner and majority owner of the new combined company. We believe we have a unique platform, combining AquaShip’s recognized competencies across multiple vessel types and local hands-on experience in several regions with Intership’s renowned expertise in live fish carriers. Together, we aim to unlock new, impactful partnerships across all regions and further enhance our already compelling service to customers. By leveraging AIP’s capabilities, combined with both AquaShip’s and Intership’s innovative approach and diversified platform, we are confident that the combined company is well positioned for the growth journey ahead,” said Sverre Taknes, CEO of AquaShip and CEO of the combined company.

Ole Peter Brandal, CEO of Intership and Executive Chairman of the combined company, said: “We look forward to embarking on a new journey with AIP and AquaShip and continuing our mission of delivering and even further enhancing the highest quality service to our clients. We’re convinced that our longstanding customer relationships, global footprint, pioneering technology, and dedication to serving our customers will provide a valuable platform for the path ahead. Joining forces with AIP and AquaShip marks an exciting chapter for everyone at Intership.”

“We are excited to partner with the AquaShip and Intership teams and to support the next phase of growth and create a truly differentiated global platform in this rapidly evolving industry,” said AIP Partner Alex Schukin. “We invest in companies that are already world leaders in their sectors but still have significant untapped potential. There is a significant opportunity to unlock new capabilities for the combined company, its customers, its employees and the industry. We look forward to enabling the combined company to drive further growth and technology development both organically and acquisitively.”

Craig Tashjian, CIO of AMERRA, commented: “We are excited to partner with AIP in the recent transaction with Intership. In AILP, we are very satisfied and keen on AquaShip’s future and the long-term success of the merged company.”

Commenting on the transaction, Toby Westcott of Alchemy said: “It has been a pleasure working with the Intership management team over the last five years. Under Ole Peter’s strong leadership Intership has grown significantly throughout Alchemy’s ownership and we are sure that Intership will continue its success with American Industrial Partners.”

DNB Markets acted as exclusive financial advisor to AquaShip and Arctic Securities acted as exclusive financial advisor to Intership in connection with the transactions.

Arkwright London LLP advised the AquaShip Board.

Talweg Capital has co-invested in the combined company, advised AIP in connection with the transactions and serves on the combined company’s Board of Directors.

For more information:

For AquaShip
Sverre Taknes, CEO & founder, AquaShip AS
Telephone: +47 908 00 200 |
taknes@aquaship.no

For Intership
Ole Peter Brandal, CEO & co-founder, Intership AS
Telephone: +47 959 12 216 |
ole.peter.brandal@intership.no

About AquaShip AS
AquaShip AS is a Norway based aquaculture service company, serving the world’s leading salmon farmers. AquaShip has a fleet of 28 vessels, consisting of live-fish carriers, utility vessels, harvest vessels, fish feed carriers and service vessels, with operations in Norway, Scotland, Ireland, Chile, Canada and Shetland. AquaShip has a wide geographic footprint, long-term customer relationships, and strong technical competence within building and operating specialized maritime aqua-service vessels.

About Intership AS
Intership AS, a Norway based live fish carrier owner and operator providing best-in-class fish welfare, from transport of smolt through to grading, treatment and harvest. Intership provides its services to the world’s leading salmon farmers in Norway, Scotland, Canada, and Chile, making the company one of few operators with global operations. Intership’s fleet consists of nine modern live fish carriers, with currently two more new-builds under construction. Through a technically advanced fleet equipped with innovations and state-of-the-art systems, Intership provides safe, eco-friendly and sustainable live fish treatment and transport.

About American Industrial Partners
American Industrial Partners has deep roots in the industrial economy and currently manages over $16 billion on behalf of its limited partners. AIP is distinctively focused on industrial businesses across a broad range of end-markets that include aerospace and defense, automotive, building products, capital goods, chemicals, industrial services, industrial technology, logistics, metals & mining, and transportation, among others. AIP seeks to generate differentiated returns by working with management teams to implement comprehensive Operating Agendas to improve profitability and build long-term value. Current AIP portfolio companies generate aggregate annual revenues in excess of $28 billion and employ over 70,000 employees as of September 30, 2023. For additional information on AIP’s strategy, investment criteria, and portfolio companies, please visit www.americanindustrial.com or contact IR@americanindustrial.com.

About Alchemy
Alchemy is a leading European corporate special situations investor. The Partners, Thomas Boszko, Ian Cash, Alex Leicester, John Rowland, Dominic Slade and Toby Westcott, have worked together for 15 years and lead a team of 19 investment professionals. Alchemy is focused on the mid-market and is a specialist in acquiring control of businesses through debt and equity.  The Alchemy funds have invested over £2.6bn since 2006 across 80 companies, spanning a broad range of sectors including financial services, hospitality and housebuilding. In the year-to-date, Alchemy funds have invested c.£200m principally in 12 investments. Alchemy’s strategy and investment criteria are described in more detail at www.alchemypartners.co.uk.

About Talweg Capital
Talweg Capital is an investment firm focused on control-oriented special opportunity investments in European debt and equity, with a particular focus on the Nordic region. The firm was founded in 2022 by Ville Haussila and seeks to uncover underserved niche opportunities that benefit from flexible capital supported by operational expertise. For more information please contact info@talweg.co.uk.

About AMERRA Capital Management
AMERRA Capital Management, LLC is a New York based agribusiness asset manager with over $1.1 billion in AUM. AMERRA deploys capital supporting growth-oriented agribusinesses around the world and seeks to add value as a supportive and active partner with a full spectrum of customized debt capital strategies. Since its inception in 2009, AMERRA has completed over 380 investments with an aggregate value in excess of $5.7 billion.  For more information please visit www.amerracapital.com.

Photo crediting:

Grip Marine: Grip Marine, Photo: AquaShip AS

IMG_9170 & IMG_9201: Ole Peter Brandal (left) and Sverre Taknes (right), Photo: Intership AS & AquaShip AS

Inter Atlantic: Inter Atlantic, Photo: Intership AS