The Gael Force Group, an aquaculture company based in the north of Scotland, announced on Friday, 6 May its acquisition of Mohn Group, a designer of underwater technology.
In its announcement, Gael Force Managing Director Stewart Graham said the purchase would expand his company’s existing capabilities within the aquaculture market and assist in the company’s goal of growing sales to GBP 50 million (USD 72.2 million, EUR 63.3 million) in the next four years.
“The acquisition fits well into the company`s current development strategy and within our aquaculture business,” Stewart said. “This is another step towards Gael Force becoming an end-to-end supplier of aquaculture technology and equipment to the Scottish and international aquaculture markets.”
Gael Force has 180 employees in three divisions – marine equipment, marine engineering and aquaculture – primarily serving European markets. Mohn Aqua, with operations in Scotland and Norway, was formed in 2011 when the aquaculture division of Bennex was bought by Norwegian companies Mohn Drilling and Argus Remote Systems.
Mohn Aqua had a well-established name in the aquaculture industry due to its development of advanced underwater technology, including underwater cameras, sensors and acoustic deterrent devices, but the Norwegian owned firm had been facing an uncertain future without further investment, Stewart said.
Following the acquisition, Gael Force will invest in product development, production, sales and servicing support of the Mohn Aqua product range, aiming extend the products’ market reach across the U.K. and overseas, according to a press release.
“We plan to increase our focus on delivering this strategy and take further steps towards putting Scotland on the map as a supplier of technology and equipment to our own market in Scotland but internationally too,” Stewart said.
