VARD sells Vard Aqua to Imenco
Vard Group is selling the equipment supplier Vard Aqua to the Norwegian company Imenco.
22. December 2022
Vard Aqua (former Storvik Aqua) has had a central position as a product developer and supplier of equipment for land-based and sea-based aquaculture since the company was established in 1985. The company is managed from Sunndalsøra and has a total of 34 employees; 10 people are employed at Sunndalsøra in Norway, 22 in Chile and 2 in Scotland. Vard Aqua has developed and is delivering equipment within oxygen addition, feeding, biomass measurement, sensors, and logging.
VARD's core activity is shipbuilding, ship design and the development of high-tech equipment and solutions for advanced specialized vessels, and the group's management wish to facilitate the further development of Vard Aqua in a professional environment that focuses on sustainable solutions for the aquaculture industry at sea and on land.
The right owner
Chairperson of Vard Aqua, Amrit Bhullar, says it has been important for VARD to find a good and right owner for the company: "We feel confident that Vard Aqua will have a rewarding future in Imenco. Vard Aqua fits in well with Imenco both as a company and through their product portfolio, strategies and goals."
Imenco is a worldwide company with more than 330 employees, headquartered in Grinde outside Haugesund, Norway. The company, which was established in 1979, also has departments in Voll, Narvik, Scotland, US, and China. Imenco consists of a group of companies within five business areas: Offshore Oil & Gas, Offshore renewables, Aquaculture, Marine & Naval and Industrial.
“We at Imenco continue to invest heavily in Aquaculture and Fish Farming. This is one of the main areas in which we have decided to grow and take a significant part of the market. Now it is a natural step for us to search for exciting product areas, which will bring us new customers and markets, as well as where we can supplement with cameras and software that already exist in our product portfolio”, says CEO of IMENCO Rune Bringedal.
“We are very pleased to get the good products and all the skilled employees of Vard Aqua in Norway, Scotland, and Chile onboard. Imenco has a clear strategy for our investment in Aquaculture, and we want to get closer to the customers where farming is carried out with a broader product portfolio. We are well established with production, service/support and sales in Norway, Scotland and now Chile, and will work further to establish sales and service departments in Central and Northern Norway, as well as in other countries where it is natural for us to be represented,” says VP for Aquaculture and Fish Farming in IMENCO, Anders Bastholm.
Amrit Bhullar says the parties have had a good and solution-oriented process: "We would like to thank Imenco for the cooperation and congratulate them on the acquisition. Through Vard Aqua, they have received a well-established and forward-looking business that will contribute with their innovative concepts to the aquaculture industry. We would like to thank our colleagues at Vard Aqua for their support and wish them all the best in the future."
Managing director of Vard Aqua, Tommy Visnes Storsveen says they are looking forward to becoming part of Imenco:
"We are now entering a new era for the company. We value the fact that VARD has placed an emphasis on finding the right owner for us, and we look forward to getting to know new colleagues and setting a new course for the company going forward. Our customers will gain more benefits from the fact that we can offer a wider and more complete range of deliveries, both from a product and technological perspective."