AKVA Group ASA acquires 66% of the shares in Sperre AS from Sperre Group AS.

Sperre AS, based in Notodden, Norway is the leading ROV and subsea technology company within the aquaculture industry, as well as a recognized provider of ROV and subsea solutions to the oil service and maritime industries in Norway and internationally.

Sperre had 81,9 MNOK of revenues and an EBITDA of 20,4 MNOK in 2015.

AKVA Group is a leading technology and service partner to the aquaculture industry worldwide. Based in Bryne, Norway it has operations in eight countries and is listed on the Oslo Stock Exchange.

The purchase price for the shares is based on an enterprise value of Sperre on a 100% basis of 126,9 MNOK, with customary adjustments for net debt and deviations from a normalized level of working capital on completion. AKVA and Sperre Group AS have also agreed a mutual option to buy/sell the remaining 34% of the shares in Sperre.

Sperre Group AS is controlled by Sperre chairman and General Manager Thor Olav Eikeland Sperre, who will continue in his role as General Manager after completion of the transaction. He will also be a member of the board of directors of Sperre.

The acquisition will help Akva group gain the leading position in the ROV and subsea technology segment to the aquaculture industry.

Synergos acted as financial and strategic advisor for Sperre Group AS