MARGUERITE TO INVEST IN AQS, A LEADING NORWEGIAN AQUACULTURE SERVICE VESSEL OPERATOR

Marguerite to invest in AQS, a leading Norwegian aquaculture service vessel operator. Marguerite, a pan-European infrastructure fund, will invest in AQS Holding AS (“AQS”), a leading Norwegian operator of specialised service vessels for aquaculture. Via its latest fund, Marguerite III, it will acquire a 50% shareholding in AQS as part of a capital increase through the issuance of new shares to support the expansion of its fleet and its long-term growth strategy. The existing shareholder Fanøyskjæret AS, the family holding of the Ove Løfsnæs family, will retain the remaining 50%.

Founded in 1991 and headquartered in Flatanger, AQS has grown to establish itself as a key partner for aquaculture companies, delivering high-quality services throughout their operational lifecycle. Operating a fleet of 16 specialised vessels and employing more than 160 highly competent on-shore and off-shore personnel, AQS covers the entire Norwegian coastline by partnering with some of the world’s largest and most sustainable fish farming companies.

Marguerite’s investment will enable AQS to expand its fleet significantly with state-of-the-art service vessels. As the company is a pioneering operator of fully electric and hybrid vessels, the investment aligns with Marguerite’s strategy to finance the decarbonisation of the maritime sector. AQS is committed to accelerating the electrification of its fleet, further strengthening its decarbonisation efforts in line with the Paris Agreement’s objectives.

“We’re glad to partner with the Løfsnæs family to bring AQS into its new growth chapter”, said Michael Dedieu, Managing Partner at Marguerite. “We strongly believe in the service vessel sector and the tailwinds for the underlying market, and we look forward to supporting AQS in consolidating its position as a leading Norwegian operator”.

Norway is the world’s largest farmed salmon and trout producer, accounting for over 50% of global production. This is enabled by an extensive coastline, cold and clean waters, a stringent yet favourable regulatory framework and advanced aquaculture infrastructure.

“Today marks an important milestone for AQS,” said Ove Løfsnæs, Chairman of AQS. “The partnership with Marguerite provides us with the necessary resources to realise our ambitious growth plans and strengthen our position as a leading player in the industry”.

In connection with the share capital increase, the organisation will be strengthened by soon appointing a Chief Executive Officer, while the current General Manager Pål Anders Lauvsnes will assume the role of Chief Operating Officer:

“The news of strengthening the ownership in AQS has been very well received within our organisation. This provides a solid foundation for us to continue delivering high-quality services, grounded in a strong and safe working environment,” said Pål Anders Lauvsnes. The transaction marks Marguerite’s second investment in the maritime sector, following its acquisition of Jifmar, a leading operator of workboats, further reinforcing its commitment to supporting sustainable maritime infrastructure.

The transaction is expected to close in April 2025.

Marguerite was advised by Danske Bank (M&A), Wikborg Rein (legal), Arcadis (technical and commercial), Deloitte (financial and tax), Optra Risk (W&I) and Willis Tower Watson (insurance).

AQS and its shareholders were advised by SpareBank 1 Markets (M&A) and Schjødt (legal).

Photo credit: AQS

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