Land-based fish farming contractors are merging
In a restructuring of the Endúr Group, the subsidiaries Artec Aqua AS and VAQ AS will be brought together.
Endúr announced this in a stock exchange announcement on Monday.
Artec Aqua, the main contractor for the Salmon Evolution hybrid recirculation / flowthrough farm at Indre Harøy, will acquire VAQ in a merger that aims to combine the strengths of the two companies. The merger is expected to be completed by the end of 2025.
Fredrik Langehaug will lead the new, combined company, which will continue to operate with a two-tiered departmental structure to handle both hybrid and RAS projects. Operations will continue from the existing offices in Ålesund and Asker.
The rationale for the merger is improved efficiency, including:
Harmonisation: the company will standardise contract structures, prices, risk frameworks and tendering processes.
System integration: ERP and PLM systems must be aligned.
Customer focus: the goal is to be able to offer technology-neutral solutions tailored to customer needs.
Structural changes: management expects to strengthen the foundation for long-term growth and trigger cost synergies.
A more solid partner
According to Langehaug, the merger will bring together expertise and resources from both companies, which he believes will make the company a more solid partner.
Sondre Høidalen from VAQ will have a focus on business development and new opportunities.
Jeppe Raaholt, chief executive of Endúr, writes that he supports the merger. He expects the new company to be better positioned to meet the market's needs.
Until the merger is completed, Artec Aqua and VAQ will continue their ordinary operations.
