Torghatten buys two-thirds of the shares in INAQ
Investment and development company Torghatten Aqua has acquired 66% of the shares in Norwegian seafood advisory firm Inaq from Akva Fonds, with the remaining 34% to be taken over by the company’s employees,
The purchase price for the acquired shares amounts to NOK 19.8 million ($1.8 million), settled 50% in shares and 50% in cash. This translates to 141,428 shares in Torghatten Aqua and NOK 9.9 million ($900,000) in cash, according to a press release from Torghatten Aqua on Monday.
“This acquisition signifies a pivotal moment for Torghatten Aqua as we advance our ambitious growth strategies,” said Torghatten Aqua CEO Øyvind Løvdahl.
“The ability to access top-tier expertise is paramount, and with Inaq being a leading consultancy firm in Norway’s seafood industry, it will significantly accelerate our group’s development.”
Løvdahl highlighted Torghatten Aqua’s existing collaboration with Inaq’s consultants, underscoring the favorable nature of the acquisition. Additionally, the prospect of Inaq’s employees holding a 34% ownership stake ensures ongoing access to expertise.
“Inaq’s restructuring aligns with the company’s upcoming 25th anniversary next year,” observed Frode Blakstad, owner of Akva Fonds and chairman of Inaq. “Recent recruitment efforts, the appointment of a new CEO, and the development of a new visual identity have positioned the company for future growth.”
Nina Santi, CEO of Inaq, expressed appreciation for the employees’ substantial ownership stake, emphasizing their indispensable role in value creation and the company’s evolution into an international consultancy firm within the seafood sector.
