Selstad AS and W & J Knox Ltd announced today that Selstad has acquired a majority share in the UK based service-provider. Through this agreement, the companies aim to build an organisation with the right competencies to serve the global aquaculture industry.
W & J Knox is based in Scotland and supplies equipment and services to the aquaculture industry, in addition to nets for camouflage, sports and other industrial applications.
Selstad is an international supplier of design, expertise and equipment for aquaculture and commercial fisheries. The company CEO, Hans Petter Selstad, explains how the alliance offers several opportunities for the two companies and the industry.
– 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 says.
Commenting on the deal, Managing Director of W & J Knox, Dave Hutchens, see this as an important chapter in the history of W & J Knox.
– 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.
For both employees and customers, this change in shareholding will be seamless, with the same Knox sales and production staff dealing with all enquiries and logistics.
Also, Finlay Oman, Commercial Director in W & J Knox, is glad that the companies have agreed to work together.
– 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.
Director and Chairman, Jim Traynor, has covered a period of 42 years at W & J Knox.
– From day one, the continued secure employment of the workforce has been of prime importance for us in reaching an agreement. I am delighted that Hans Petter has decided to take the company forward along with our ongoing management team.
For Selstad, the strategic acquisition is part of a global group strategy. Last year, the Selstad Group also obtained majority ownership in its Icelandic partner Isfell Ehf, making the Selstad Group amongst the top 5 suppliers worldwide within its field of expertise.