Altor and Bain acquire Ewos for NOK 6.5bn

Altor and Bain overcame competition from Permira, which was also vying for the business.

The investment from Altor comes from its third fund Altor Fund III. The investment will be used to reduce Cemaq's debt and to realise an extraordinary dividend to shareholders. The deal sees Cermaq divesting its entire holding in Ewos, but it will continue to use the company as the main supplier to Mainstream.

Altor and Bain plan to expand Ewos by increasing its R&D function, developing higher quality feed and expanding the company's international presence.

Company
Ewos is a supplier of feed and nutrition for the international aquaculture industry. Founded in 1935, the company operates in the world's four major salmon farming regions: Norway, Chile, Canada and Scotland.

People
Hugo Muastard, partner, led the deal for Altor, while Ed Han, managing director, led the deal for Bain.

Advisers
Equity – Carnegie (Financial due diligence); Kirkland & Ellis (Legal); Thommesen (Legal).
Vendor – ABG Sundal Collier (Financial due diligence); Schjødt (Legal).

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• Topics
• Buyouts
• Nordics
• Bain Capital
• Altor
• Permira
• Norway