ScaleAQ takes over Moen Marin

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Steinsvik, Aqualine and Aqua Optima announced in August that they will merge to form ScaleAQ. Also, in August, the Tasmanian company PanLogica became part of the company, now shipbuilder Moen Marin is joining the team.

“We are very pleased to announce that Moen Marin is now part of ScaleAQ,” says Per Ivar Lund, VP Business Development at ScaleAQ.

“We aim to offer a complete portfolio of products and services to fish farmers all over the world, and vessels are an important element. Moen Marin has for many years proven that they make vessels that fits the market demands well and they are also in the lead when it comes to electrical and hybrid solutions.”

Moen Marin posted revenues of €45 million euro in 2018.

“ScaleAQ already has offices in 11 countries. Our distribution network, and existing customers in all markets, will ensure that vessels from Moen Marin can reach a much larger customer base. We want to make everyday life easier for farmers,” says Per Ivar Lund.

“We are already a leader in feed barges, and it is with pride that we can now also offer high quality vessels to fish farmers and the service industry catering to the aquaculture sector.”

“We want to be part of what ScaleAQ is building,” says Terje Andreassen, CEO of Moen Marin. “Barges and boats have many similarities and we believe that we as a single team can offer even better products and a more complete range of services. The local presence, maritime understanding and a serious focus on innovation is why we look forward to working with the rest of ScaleAQ.”

The other operations of the Moen Marin Group, consisting of Moen Marin Service and Moen Ship Management are not included in the transaction, but close and good cooperation is planned after completion.

“It is known that our owners have contemplated the sale of Moen Marin,” says Are Brekk, CEO of Moen Marin Group. “The agreement gives the employees and products the opportunity they deserve in terms of future growth. The agreement with ScaleAQ allows for focus on international growth through an even wider product range. The market needs solid and innovative partners that can help them grow and we look forward to seeing what becomes of this.”