Endúr acquires RAS supplier Artec Aqua
Wednesday, January 13, 2021
Marine infrastructure group Endúr entered into a share purchase agreement with Artec Holding AS, as seller, for the acquisition of Artec Aqua. Artec Aqua is a turnkey supplier of process facilities and solutions to the onshore aquaculture industry – both within smolt, broodstock and grow-out facilities.
“We recently acquired BMO Entreprenør, partly to strengthen our ability to take on larger marine construction projects within land-based aquaculture. The acquisition of Artec Aqua immediately gives us an even firmer stronghold in this highly attractive and fast-growing market. There are also clear strategic synergies between Artec Aqua and Endúr’s business that we aim to take advantage of,” said Hans Olav Storkås, CEO of Endúr.
In June of last year, Endúr announced a change of strategic direction for the company, identifying the marine infrastructure and the aquaculture sectors as its core growth areas. “The combination of the Artec Aqua acquisition and promising dialogue with other acquisition targets means that Endúr is likely to reach our earlier communicated 2022 revenue and margin targets already in 2021,” said Storkås.
Artec Aqua is renowned for its superior water treatment solutions design, which secures fish welfare and sustainable development of the aquaculture industry. The company has the capability to deliver all available water system solutions for onshore aquaculture, including flow-through, regeneration and recirculation aquaculture systems (RAS). Artec Aqua has developed a new RAS system that has demonstrated favorable water quality and recorded stress levels among the lowest measured in onshore fish farming.
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