Aquaship Expands Global Reach with FSV Group Acquisition
Deal News | Jan 23, 2025 | Ropes & Gray
Ropes & Gray has provided legal counsel to the New York-based private equity firm American Industrial Partners (AIP) in the acquisition of FSV Group AS by AIP's portfolio company Aquaship | Intership. This transaction forms the world's second-largest maritime service provider dedicated to the aquaculture industry. The merged company will offer an extensive range of services and vessels catering to the aquaculture sector's growing demands, including transportation, treatment, feed distribution, harvesting, and site services. The combined entity will manage a fleet of 60 vessels, with an additional eight vessels under construction, employing over 1,000 personnel across regions including Norway, Chile, the United Kingdom, Ireland, Canada, and the Faroe Islands. Ropes & Gray has a history of advising AIP in previous transactions involving the acquisitions of majority stakes in Aquaship AS and Intership AS, including their merger and refinancing.
Sectors
- Private Equity
- Maritime Services
- Aquaculture
Geography
- United States – The private equity firm, American Industrial Partners, is based in New York, USA.
- Norway – FSV Group AS is based in Norway and is a central player in the merger, impacting local maritime operations.
- Global – With operations extending to Chile, the UK, Ireland, Canada, and the Faroe Islands, this transaction has significant global implications in the maritime services sector.
Industry
- Private Equity – The acquisition was driven by a private equity firm, American Industrial Partners, which orchestrates strategic investments and mergers in target industries.
- Maritime Services – The focus of the acquisition is the maritime services industry, particularly in aquaculture, where combined resources create a leading global service provider.
- Aquaculture – The acquisition aims to enhance service delivery within the aquaculture industry by providing comprehensive maritime solutions for this growing sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| American Industrial Partners | Private Equity Firm | Company | A New York-based private equity firm driving strategic investments in industrial sectors. |
| Ropes & Gray | Legal Advisor | Company | An international law firm advising on the acquisition deal. |
| Aquaship | Intership | Acquiring Company/Buyer | Company | A portfolio company of AIP, acquiring FSV to boost its global presence in the maritime aquaculture sector. |
| FSV Group AS | Target Company | Company | A Norwegian company specializing in maritime services for aquaculture, being acquired by Aquaship | Intership. |