Norwegian equipment manufacturer Morenot acquired Danish aquaculture and fisheries equipment maker Hvalpsund Net.
“With the acquisition of Hvalpsund Net, one of several exciting opportunities is materializing,” the company said.
“Morenot and Hvalpsund will be able to better serve common and new customers with innovative and efficient products and solutions.”
Hvalpsund Net supplies equipment for the fishing and aquaculture industry around the world.
Some of the products it sells are plastic cages, mooring systems, working boats, bird nets and measurement tools.
“Through hard work and solid dedication over a long period of time, Hvalpsund Net has become a forward-looking company with strong relationships with its customers, and a safe and good workplace for its employees,” said Arne Birkeland, CEO of Morenot.
“Mørenot provides solutions for sustainable seafood harvesting, and together we will be able to contribute to a more aggressive and competitive investment in all markets.”
Following the acquisition, Morenot will have sales of more than NOK 1.2 billion (€119 million/$134 million) and more than 700 employees.