Måløy, Norway-based fisheries and aquaculture equipment supplier Selstad AS has confirmed that it has acquired a majority share in W&J Knox Ltd., and that through the agreement, the two companies will aim to build an organization with the right competencies to serve the global aquaculture industry.
W&J Knox is based in Kilbirnie, Scotland, and supplies equipment and services to the aquaculture industry, in addition to nets for camouflage, sports and other industrial applications.
“We have known W&J Knox for over 20 years by now and consider their value proposition to the aquaculture industry to be very strong. In combining this with Norwegian knowledge and experience, we believe that we will see some very good synergies,” Selstad CEO Hans Petter Selstad said.
W&J Knox Managing Director Dave Hutchens said he sees the deal as an important chapter in the company’s history.
“We are looking forward to taking this business forward with the management of Selstad, with a view to adding to our portfolio of products as the integration process progresses,” he said.
Knox’s sales and production staff will continue to deal with all company enquiries and logistics. The management team will also remain in place.
“In an ever-challenging market, driven by acquisitions and venture capitalists, it is refreshing that effectively two family-run companies are coming together and working with another family-run firm like Garware Technical Fibres in India to provide solutions for our customers into the future,” W&J Knox Commercial Director Finlay Oman said.
Selstad said the strategic acquisition is part of its global group strategy. Last year, it obtained a majority ownership in Icelandic partner Isfell Ehf. It also has associated companies in Iceland, Greenland, and South Africa.
Photo courtesy of Selstad
