Advanced Innergy to acquire Imenco Aqua in $17.7m deal.
Australia-listed Advanced Innergy Holdings Ltd has agreed to acquire Norwegian aquaculture technology supplier Imenco Aqua in a deal valued at AUD 17.7 million (€10.85 million).
The transaction, announced on 5 March, also includes a potential earn-out of up to AUD 3.0 million (€1.84 million) tied to FY26 EBITDA growth targets. The purchase price implies an FY25 underlying EBITDA multiple of 5.8 times before synergies.
Imenco Aqua supplies oxygenation, monitoring and biomass measurement technologies used in aquaculture operations, particularly in the Atlantic salmon sector. Its products are embedded in fish welfare and environmental compliance systems in key farming regions including Norway and Chile.
The company reported unaudited revenue of AUD 15 million (€9.20 million) and underlying EBITDA of AUD 3.0 million (€1.84 million) for the year ending December 2025.
Around 30 percent of Imenco Aqua’s revenue is recurring, driven by a leasing model for intellectual property-protected equipment with contract visibility and renewal rates.
Advanced Innergy said the acquisition would expand its marine technology platform and complement its recent purchase of Ovun. The company expects cross-selling opportunities and operational synergies through its global sales network.
CEO Andrew Bennion said the deal would strengthen the company’s presence in the aquaculture sector.
“This acquisition is highly complementary with our recent Ovun acquisition and further accelerates our market penetration in the fast-growing aquaculture market,” Bennion said.
Founded in Norway in 1985, Imenco Aqua operates three facilities in Norway and Chile and employs around 57 staff. Both countries account for roughly 80 percent of global Atlantic salmon production.
The acquisition will be funded from Advanced Innergy’s cash reserves and is expected to complete by the end of March, subject to customary closing conditions. The company said the deal is expected to be earnings per share accretive from completion.
