Managing Director of Frøy, Tonje Foss, and Managing Director of Abyss, Victor Jan Jensen.
Photo: Lars Erik Berg
Norwegian aquaculture service provider Frøy is selling Frøy Akvaservice AS to workboat operator Abyss, in a move that will see 33 smaller service vessels, around 200 employees, and land bases at Frøya, Måløy, and Finnsnes transfer to the new owner. The transaction forms part of Frøy’s strategy to streamline its operations and focus on wellboats, larger service vessels, diving services, and aquaculture freight.
The companies said the sale will allow each to concentrate on their respective strengths. For Frøy, the divestment supports its plan to invest in technology, innovation, and energy-efficient vessel design. For Abyss, it represents an expansion of its service capacity and coastal presence.
The two companies said the agreement will also contribute to sustainable development along Norway's coast, with the official handover expected once the Norwegian Competition Authority approves the deal later this year.
“The aquaculture industry is becoming increasingly complex, and this development is happening faster than ever,” said Tonje Foss, CEO of Frøy. “To be a leader and drive new solutions, we must concentrate our efforts. It is demanding to be the best at everything - that is why we are now focusing fully on our core areas.”
After the sale, Frøy will retain 47 vessels and around 690 seafarers, with additional vessels under construction and further growth planned. Foss said the company aims to strengthen its position in fish health, biosecurity, and sustainability, while developing next-generation wellboats and aquaculture service vessels.
Meanwhile, Abyss CEO and founder Victor Jan Jensen said the acquisition will bring valuable expertise and capacity into his company’s operations. “We are very pleased to bring the expertise, vessels and employees from Frøy with us,” he said. “Our ambition is to take the business to an even higher level - benefiting our customers, employees, and the entire industry.”
Following the transaction, Abyss will operate around 57 service vessels and employ about 500 people, with bases along the Norwegian coast including Ulsteinvik, Kristiansund, Rørvik, Sandnessjøen, and Alta. The company also has four new vessels under construction as part of its plan to expand its offering in line with increasing industry demand.
Before its acquisition of Frøy Akvaservice, Abyss Group was already considered the second-largest provider of service vessels in Norway's salmon farming sector. In March, AKVA Group announced it was selling its 21.55% stake in Abyss to Arcus Infrastructure Partners, an independent fund manager investing in European infrastructure assets across telecommunications, transport and energy.
At the time, Jensen described the acquisition by Arcus as “a landmark transaction for the company, enabling us to achieve our ambitious goals for the company in the years to come,” and stating his ambition for Abyss to “develop into one of the world's leading aquaculture service vessel companies”.
