American Industrial Partners acquires feed ingredients business Aker Biomarine

American Industrial Partners (AIP), a global industrial investor, has acquired an interest in Aker BioMarine’s Feed Ingredients business. Feed Ingredients will be held by a newly formed company, Aker BioMarine Antarctic Holding II AS, which will be 60% owned by AIP and 40% owned by Aker ASA through its wholly owned subsidiary Aker Capital AS.

The company is the only company in the world engaged in commercial-scale krill fishing, introducing a natural, sustainable and health-promoting source of nutrients to animal and human nutrition.

Krill is one of the largest and most sustainable biomass in the ocean and is increasingly being recognized as an extremely valuable ingredient in aquaculture feed due to its nutrient-rich properties that are difficult to replicate synthetically. The company’s fishing operations include three purpose-built Antarctic catch and processing vessels, one support vessel, and its onshore operations are located in Montevideo, Uruguay. The company is headquartered in Oslo, Norway, and employs approximately 450 staff and crew.

“We want to join forces with AIP, leveraging their marine expertise and growing presence in aquaculture to accelerate our growth trajectory. This partnership enables us to more quickly develop benefits for aquaculture, animal health and the sustainability of krill worldwide,” said Webjørn Barstad, CEO of Aker.

“Krill is a rapidly growing niche market with attractive and sustainable growth opportunities, given both its nutrient-dense properties and the still untapped nature of the vast but remote Antarctic fishing grounds,” said Toni Rinnevaara, Partner and Chief Investment Officer at AIP. “As an industry pioneer, the company has been a leading innovator in both krill harvesting technologies and the evolution of high-value market applications for this resource through the advancement of food science in aquaculture. At AIP, we place great emphasis on working with extraordinary people and organizations and are fully committed to working closely with the company, its management team and Aker ASA to help Feed Ingredients achieve its great potential.”

Wikborg Rein Advokatfirma AS, Ropes & Gray LLP and Baker Botts LLP acted as legal advisors to AIP. Arctic, Carnegie and Rabobank acted as financial advisors to Aker BioMarine in connection with the transaction and Schjødt was legal advisor.