EWOS becomes independent and is set for growth
November 1 marks a new chapter for EWOS, the world’s leading salmon feed supplier. With Altor Fund III (“Altor”) and Bain Capital as its new owners, EWOS is now an independent company prepared for strong growth.
The private equity companies Altor and Bain Capital agreed with Cermaq in July to acquire EWOS. November 1 marks the closing of the transaction and the beginning of a new era for EWOS as an independent feed supplier.
“EWOS has a strong global market position and our key strength is our considerable knowledge of nutrition, production and logistics, especially through our R&D company EWOS Innovation. We are set to use this strong platform for further growth”, says CEO Einar Wathne of EWOS.
As an independent company, EWOS will be seeking to recruit new employees to fill various functions at a group level. A new board of directors has also been appointed with representatives of both Altor and Bain Capital.
“Feed production is becoming more and more advanced. Restricted access to raw materials, new regulatory demands and continued need for a healthy fish will require a knowledge-based feed industry,” states Wathne. “EWOS is uniquely poised to lead this shift.”
Altor and Bain Capital have long followed the salmon aquaculture sector and are excited to back EWOS in its next stage of growth.
“With a leading market position in the world's biggest salmon farming regions, EWOS has a solid foundation for growth. We are committed to supporting the management team's strategy for further expansion,” says Hugo Maurstad of Altor Equity Partners.
“EWOS is the undisputed leader in the shift toward sustainable value-added feeds, with world-class research facilities and an unrivaled history of successfully partnering with our customers to drive superior outcomes for the aquaculture industry. EWOS has already taken the first step towards growth in emerging markets and we expect to continue to explore opportunities globally to leverage our knowledge base, expertise, and leadership,” says Edward Han of Bain Capital.
For further information, please contact;
Einar Wathne, CEO EWOS, +47 958 67 817
Hugo Maurstad, Altor Equity Partners, +47 22 12 83 83
Hazel Stevenson, PR representative for Bain Capital, +44 20 7269 7103 or +44 7515 597 857
About Altor
Altor Equity Partners acts as investment advisor to the Altor funds, out of offices in Stockholm, Oslo, Copenhagen and Helsinki. Since inception, the Altor funds, with a committed capital of EUR 3,800 million, have invested in close to 40 companies. The investments have been made in Nordic mid-cap companies with the aim to create value through growth initiatives and operational improvements.
Among current and past investments are Lindorff, Helly Hansen, AGR, Eltek, Norsk Gjenvinning, SPT Group, Navico, Constructor and Elixia.
About Bain Capital
Bain Capital is one of the world's leading private investment firms with approximately USD 70 billion in assets under management. The firm works alongside the management teams of the companies it invests in to further their growth and development. Its executives have extensive operational and consulting experience and since 1984 have invested in over 250 companies around the world, among them Bravida and Securitas Direct based in the Nordic region. Bain Capital has a distinctly people-intensive, value-added approach to investing, with a strong emphasis on supporting management teams to drive strategic and operating improvements, as well as a truly global footprint supporting portfolio companies to grow in a global marketplace. Bain Capital Europe, the firm’s European private equity affiliate, has been investing with the same philosophy since 1989. Bain Capital has offices in London, Munich, Luxembourg, Boston, Chicago, New York, Hong Kong, Mumbai, Shanghai and Tokyo.