Service companies AQS, KB Dykk to combine

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Aquaculture services companies AQS and KB Dykk have agreed to merge and form a bigger player in the service boat and diving segment, the two parties have announced.

KB Dykk shareholders Kaare Bjørn Krystad and Ola Krystad have penned an agreement with Fanoyskjaeret, the shareholding entity in AQS Holding, to merge the two companies. AQS becomes the acquiring company.

Heavyweights
“We will be a solid and robust supplier of aquaculture services. That’s the main reason we want to get together,” AQS manager, Ove Loefsnaes, stated.

“KB Dykk and AQS will complement each other very well, both in terms of crew, boats, equipment and country organization,” KB Dykk managing director, Krystad, stated.

“We can supply each other very well, and we think the same way about the market and the future. We are also close to each other geographically,” he added. Both companies ply the service boat segment offering services in mooring, unloading, cleaning, ROV operations and divers.

Norway coverage
Rorvik-, Norway based KB Dykk saw turnover of EUR 11.6 million in 2017. AQS, based in Flatanger, accrued turnover of EUR 16.8 million. The combined company’s two outfits are no lightweights

Once merged, the new company will operate 20 service boats between counties Trondelag and Finnmark, roughly central to northern Norway.

AQS will end up owning 54 percent and KB Dykk 46 percent of the new fish-farm services company.

NTS has a 50.1 percent stake in KB Dykk, but post-merger it’s stake in AQS Holding will be about 23 percent.