Investment group Torghatten Aqua buys majority stake in seafood consultancy INAQ

Norwegian seafood consultancy INAQ has a new majority owner, after investment group Torghatten Aqua bought up 66% of shares in the company, with the remaining 34% taken over by its employees.

Torghatten Aqua is itself partly-owned by Norwegian aquaculture firm Nova Sea, after the salmon farmer, the largest in Northern Norway, bought a 33.4% stake in the investment firm in February 2024.

In a Norwegian-language statement published on Torghatten Aqua's website, the investment group says the purchase "is important for the further growth and development of both companies in line with the companies' ambitious strategies and plans".

Torghatten Aqua has developed an educational program in aquaculture and fisheries through its subsidiary Campus BLÅ, and CEO Øyvind Løvdahl said that access to INAQ's expertise will be important for future development.

"In order to develop the national and international seafood industry of the future, access to up-to-date and relevant expertise will be one of the most important success factors," Løvdahl said.

"Torghatten Aqua AS already has extensive experience in working with the advisers in INAQ. The fact that employees in INAQ AS themselves become owners of 34% of the company, we see as very positive and contributes to ensuring the future availability of expertise," Løvdahl added.

Meanwhile, INAQ Chairman Frode Blakstad said that the new ownership was part of a new strategic direction for the seafood consultancy.

"Ahead of the company's 25th anniversary next year, it was time to lay down a new strategy for the further development of INAQ," Blakstad said.

"Over the past year, we have recruited several new employees, hired a new general manager and developed a new visual profile for the company. Now we are ready to take the next step in repositioning the company for the future. We do this by bringing in new investors who want to build a strong bridge between the past and the future of the company."

"Knowledge, competence and business development are strong common denominators for INAQ and Torghatten Aqua, and the companies have worked closely together over time," added Nina Santi, general manager of INAQ.

"Through Torghatten Aqua, INAQ has acquired long-term industrial owners who will give the company a strong network, while the broad ownership in Torghatten Aqua, including the fact that the company is listed on Euronext NOTC, secures INAQ's position as an independent and independent player vis-à-vis customers in Norway and internationally," Santi said.