Pisco Bidco, an entity managed by British infrastructure fund Arcus Infrastructure Partners, has agreed to acquire a majority stake in Abyss Group AS, the Kristiansund-based aquaculture services company.
The transaction, signed on Tuesday evening, marks another shift in ownership in the sector as investors look to capitalise on long-term growth in aquaculture services.
Abyss operates a fleet of 30 vessels providing net cleaning, inspection, and emergency services to salmon farmers in Norway and Iceland.
CEO and founder Victor Jensen will remain a shareholder, while previous owners Icon Capital AS, LIN AS, and AKVA group ASA have divested their stakes. The company said the deal provides increased capital and resources for expansion at a time of growing demand for sustainable and efficient solutions in the aquaculture sector.
“We have built a solid company with skilled employees, and it is important for us to have a partner who shares our ambition to develop Abyss further,” Jensen said. “Arcus has extensive experience in infrastructure investments, and we are confident they will help to strengthen the company.”
Arcus, which manages €9.1 billion in assets, has been tracking developments in aquaculture and sees Abyss as a platform for further expansion in the industry. “The company has shown strong growth, delivers high quality, and operates in an industry with long-term growth drivers,” said Michael Allen, partner at Arcus.
The deal also sees AKVA Group selling its 21.55% stake in Abyss, generating approximately NOK 140 million ($13 million) in proceeds. The company said the sale will result in a positive accounting gain and free up capital for investment in its core business.
The transaction is expected to be finalised by the end of March. DNB Markets acted as financial advisor to Abyss, with Thommessen providing legal counsel. SEB served as financial advisor to Arcus, with legal assistance from Wiersholm.
