“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

Intership takes delivery of well boat “Inter Scotia”

Intership takes delivery of well boat “Inter Scotia”

Intership, has taken delivery of its second newbuild from Zamakona Yards Bilbao. “Inter Scotia,” a battery-hybrid well boat, is designed by Salt Ship Design and has a load capacity of 2,500 m3.

“Inter Scotia” shares similarities with its sister vessel, “Inter Atlantic,” both designed with a focus on promoting good fish welfare, fish handling, and biosecurity. The vessel features a substantial battery package that, when in combination with its heat-recovery system and other measures, significantly reduces fuel consumption and climate emissions. The fish-handling system is delivered 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.

Since 2016, Intership has taken the lead in developing fresh-water treatment for lice and AGD using a reverse osmosis system. During the past seven years, the company has gained extensive operational experience in fresh-water production and fresh-water treatments. Intership´s fleet of well boats with reverse osmosis systems provides a low-cost, highly efficient and environmentally friendly method for dealing with sealice, AGD and other gill infection challenges faced by salmon farmers.

“Inter Scotia” will commence its operation for a salmon farmer in Scotland. After a few months, the vessel will be temporarily taken out of operation for the installation of the delousing system, FLS Caligus R600. The combination of a freshwater bath and flushing the fish through the FLS system is a very efficient and gentle way to remove sea lice and gill infections in the same operation.

“We are delighted to take delivery of our third vessel equipped with Intership´s industry-leading freshwater production and treatment setup,” says CEO Ole Peter Brandal. “Freshwater treatment is arguably the gentlest method used for treating salmon, and it offers both environmental and economical benefits, in addition to increased efficiency through facilitating a high-capacity freshwater production system. Going forward, we have two more well boats under construction with even higher production capacities” says CEO Ole Peter Brandal.

Intership

Established in 2014, Intership has experienced solid growth from the start. The company offers a modern fleet with innovative technology for sustainable fish treatment and transport. After the delivery of the newbuild from Zamakona and two more vessels currently being built by Sefine, the company’s total fleet capacity will be about 26 200 m3 distributed across 11 well boats. The current construction programme will confirm Intership as one of the leading providers of well boat services globally. The fleet operates in Norway, Chile, Scotland and in Canada.

Long-term agreement in Chile

Long-term agreement in Chile

Multi X and Intership sign long-term agreement to operate one of the world ́s most advanced wellboats, in Southern Chile

The vessel, with a capacity of 4,000 m3, has significant innovations in freshwater production and treatments, and will allow important advancements in sustainable operations.

Multi X, one of the largest Chilean Atlantic Salmon producers, has entered into a long-term agreement with Intership, a leading Norwegian wellboat company. The collaboration seeks to operate one of the most state-of-the-art wellboats available in the global salmon industry, within Chile.

The vessel will commence operations within the second half of 2024 and has a capacity of 4,000 m3 including several innovations designed to further develop fish farming operations in a sustainable and environmentally friendly way.

Additionally, the new wellboat, soon to be part of Multi X ́s salmon farming fleet, has several innovations aimed at enhancing its freshwater production capacities. Notably, the vessel can provide sustainable freshwater treatments using freshwater produced through reverse osmosis.

Cristian Swett, CEO at Multi X, remarked, “we are thrilled to announce our collaboration with Intership, a global forerunner within live fish handling and transport. This partnership will undoubtedly strengthen our seawater activities, advancing us towards increasingly sustainable operations and prove our continuity to the highest standards of fish farming”.

Ole Peter Brandal, Intership CEO, added We are honored and delighted for this significant opportunity in the Chilean market with a world-class salmon farmer like Multi X. We are also very enthused to now also be able to share our innovative freshwater production capabilities and sustainable freshwater treatment opportunities with the Chilean market and with Multi X in particular”.

About Multi X

Established in 1987, Multi X has dedicated its operations to salmon farming in southern Chile since its inception. With a robust team of over 2,600 people, it has a significant presence in five regions of the country, headquartering and operating processing plants in Puerto Montt. 

Multi X holds the distinct honor of being the first salmon producer ranked in the two most prominent sustainability indexes: Coller FAIRR Protein Producer Index and Dow Jones Sustainability Index. It recently introduced the first certified CarbonNeutral® Chilean salmon product, now available in the United States.

About Intership

Established in 2014, Intership has experienced solid growth from the start. It offers a modern fleet with innovative technology for sustainable fish treatment and transport. Since 2016, Intership has taken the lead in developing fresh-water treatment for lice and AGD using a reverse osmosis system.

Including all newbuilds, the company’s total fleet capacity will be about 26,200 m3 across 11 well boats. The fleet operates in Norway, Chile, Scotland and on the East coasts of Canada.