November 3, 2013
EWOS becomes independent feed supplier
Altor Fund III (Altor) and Bain Capital are the new owners of EWOS, the world's leading salmon feed supplier, effective November 1 which makes EWOS an independent company prepared for strong growth.
In July, private equity companies Altor and Bain Capital agreed with Cermaq 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.
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 unrivalled 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.
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, have invested in close to 40 companies, with the aim to create value through growth initiatives and operational improvements.
Bain Capital is one of the world's leading private investment firms that works alongside the management teams of the companies it invests in to further their growth and development. It has offices in London, Munich, Luxembourg, Boston, Chicago, New York, Hong Kong, Mumbai, Shanghai and Tokyo.
