Mørenot continues to strengthen its position as a leading supplier within aquaculture and fisheries. Together, Mørenot and Hvalpsund Net will deliver even better products.
For some time, Mørenot has had a strategic aim to establish a strong
position on plastic cages for fish farming. With the acquisition of
Hvalpsund Net, a great baseline for future growth on plastic cages will
be one of several exciting opportunities materializing. Overall, Mørenot
and Hvalpsund will be able to better serve common and new customers
with innovative and efficient products and solutions.
"Through hard work and solid dedication for a long period of time,
Hvalpsund Net has been developed into an agile company with strong
customer relationships, and a safe and good workplace for its employees.
Mørenot, which provides solutions for sustainable harvesting of
seafood, will combined with Hvalpsund
be able to offer more competitive solutions and develop even more
innovative products across all markets," says Arne Birkeland, CEO of
Hvalpsund Net, which supplies equipment and services to customers in
fisheries and aquaculture, has grown steadily over many years based on
the development of new and innovative products and close and strong
"The companies have unique strengths and opportunities that will now be
extracted to an even greater extent. We will continue to develop the
position Hvalpsund has built on plastic cages, nets and fishing gear by
investing in further product development across the product portfolio.
At the same time, we will continue to deliver individual products
separately, but at the same time also develop complete and integrated
cage solutions in some markets," says Birkeland.
Last year, FSN Capital Partners AS,
a Northern-European investment fund, acquired Mørenot. Its strategy is
to partner with the founding families to further develop the Group's
already strong position in aquaculture and fisheries. The acquisition of
Hvalpsund is the 4th time FSN and the other investors have invested
additional capital to grow and develop Mørenot with the strategy to
become the leading supplier to fisheries and aquaculture.
"The acquisition of Hvalpsund is very exciting and offers many new
avenues for further growth. We fully support the very offensive growth
journey undertaken by the Mørenot mgmt. team. Hvalpsund and their
employees are a fantastic addition to Mørenot. Together, the companies
will continue to support customers in the seafood industry, create a
safe and prosperous workplace for all employees and be an important
contributor to the local communities," says Ola Kvalheim, Investment
Manager at FSN Capital.
Poulsen, who joined the company in 1966 and took over as CEO in 1974,
have together with his family been majority shareholders in Hvalpsund
Net since 1974. All the previous owners of Hvalpsund will reinvest a
significant share of the proceeds in Mørenot and remain an active part
of the future development of the partnership.
"Hvalpsund Net and Mørenot together is a great fit and will strengthen
our efforts to continuously develop the business and organization to the
best of our employees and customers. It was important for us to bring
in a partner who shared our values and visions and wanted to invest for
the future," says Peter Poulsen, CEO of Hvalpsund Net.
"Mørenot is the leading supplier to the aquaculture and fishing industry
globally and it will give us a fantastic opportunity to build on each
other's strengths, knowledge and experience to deliver even better
products to our customers." Poulsen added.