Norwegian aquaculture service company Froy has acquired domestic peer Marinus Aquaservice.

The deal is intended to strengthen Froy's position in southwest Norway, a region where Froy currently has limited presence.

Marinus Aquaservice operates three modern vessels and has a particularly strong position in remotely operated vehicle (ROV) services, a rapidly growing segment of the services industry.

The deal is expected to close during the first quarter of 2023. The transaction values Marinus Aquaservice, which was founded in 2008, at about NOK 100 million (€9.7