Investment will enable the Company to further build upon its industry leadership and pioneering innovation in the global krill fishery
NEW YORK — American Industrial Partners (“AIP”), a global industrials investor, announced it has acquired an ownership position in Aker BioMarine’s Feed Ingredients segment (“Feed Ingredients” or the “Company”). Feed Ingredients will be held by a newly established company (“Aker BioMarine Antarctic Holding II AS”), which will be owned 60% by AIP and 40% by Aker ASA (via its wholly owned subsidiary Aker Capital AS). The Company is the world’s only industrial-scale krill harvester and brings a natural, sustainable, and health-promoting source of nutrients into both animal and human nutrition.
Krill is one of the largest and most robust biomasses in the ocean and is increasingly recognized as a highly valuable ingredient in aquaculture feed due to its nutrient dense properties, which are hard to replicate synthetically. The Company’s fishing operations are comprised of three purpose-built Antarctic harvesting and processing vessels, one support vessel, and its shoreside operations are in Montevideo, Uruguay. The Company is headquartered in Oslo, Norway and employs ~450 employees and crewmembers.
“We are eager to join forces with AIP, leveraging their maritime expertise and growing aquaculture presence to accelerate our growth trajectory. This partnership positions us to more rapidly advance the aquaculture, animal health and sustainability benefits of krill globally,” said Webjørn Barstad, CEO of the Company.
“Krill is a powerfully evolving niche market with compelling and sustainable growth opportunities given both its nutrient dense properties and the still underutilized nature of the vast but remote Antarctic fishery,” said Toni Rinnevaara, Partner and Chief Investment Officer of AIP. “As the industry’s pioneer, the Company has been a leading innovator in both krill harvesting technologies as well as the evolution of high-value market applications of the resource through the advancement of aquaculture food science. At AIP, we put great emphasis on partnering with extraordinary people and organizations and we are wholly committed to a close collaboration with the Company, its management team and Aker ASA to help Feed Ingredients achieve its great potential.”
Wikborg Rein Advokatfirma AS, Ropes & Gray LLP and Baker Botts L.L.P. served as legal counsel to AIP. Arctic, Carnegie and Rabobank acted as financial advisors to Aker BioMarine in connection with the transaction, and Schjødt as legal adviser.
About American Industrial Partners
American Industrial Partners (“AIP”) is a global industrials investor, with approximately $16 billion in assets under management. AIP is distinctively focused on industrial businesses across a broad range of end markets that include: aerospace and defense, automotive, building products, capital goods, chemicals, industrial services, industrial technology, logistics, metals & mining, and transportation, among others. AIP looks to generate differentiated returns by investing in quality industrial businesses with strong management teams and working with those teams to implement comprehensive operating agendas to build long-term value. Current AIP portfolio companies generate aggregate annual revenues of approximately $25 billion and employ approximately 65,000 employees as of March 31, 2024. In October 2023, AIP closed its eighth fund at $5.1 billion. www.americanindustrial.com
About Aker BioMarine
Aker BioMarine is a leading biotech innovator and Antarctic krill-harvesting company developing krill-derived products for consumer health and wellness as well as animal nutrition. The company has a strong position in its industry and is the world’s leading supplier of krill, the natural, powerful and health promoting source of nutrients from the pristine waters of Antarctica. Aker BioMarine is listed on Oslo Stock Exchange (AKBM). More information is available at www.akerbiomarine.com.
