Norwegian equipment and technology group Akva is merging its Akva Marine Services (AMS) business unit with Abyss Group, with AKVA becoming a shareholder in the combined company.

Abyss provides work boat and subsea services to fish farms and other maritime industries.

As part of the transaction, funds from Icon Capital will be invested in the combined company to allow further growth.

The initial investment by Icon will be NOK 100 million (€9.6 million/$11.4 million) with further growth capital being available to the board of Abyss subject to certain conditions.