PartnerPlast aquires Aqua Guardian

PARTNER PLAST AS AQUIRES 70% OF AQUA GUARDIAN AS

Partner Plast aquires 70% of the shares in Aqua Guardian AS in order to strengthen their position within safety-equipment and security barriers.

During the last 6 years Aqua Guardian AS has achieved a leading position in Norway within security/safety solutions built for hydropower and has delivered products to many of the leading companies within this field. The Company has also started delivering products to the Swedish market. The solutions delivered are made of rotational molded products.

Partner Plast entered into a contract with The Norwegian Defence Estates Agency early in 2019. This contract consists of manufacture and installation of sea barrier systems at Haakonsvern and surrounding areas. In addition, PartnerPlast also won a contract with The Norwegian Coastal Administration for the delivery of marker & navigation buoys.

 «The aquisition of Aqua Guardian is an important step towards building a complete range of products within the floating security/safety barrier markets. We will build upon, and further develop, the strong position of Aqua Guardian in combination with the sea barrier products of PartnerPlast which currently are being installed at Haakonsvern in Bergen as well as buoys and markers for harbours and waters», says Tom Samuelsen, CEO, at PartnerPlast.

Current owner and CEO of Aqua Guardian AS, Bent Kristian Hasle, will continue as CEO. In addition he will be responsible for the sale of products and solutions on a broader scale within the floating security/safety markets.

«Becoming a part of the PartnerPlast Group is the right step forward for Aqua Guardian. PartnerPlast holds extensive experience within the fields of rotational molding and electronics- and technical  development. They have already established several products within similar markets and we will work together in order to further develop these products», says Bent Kristian Hasle, CEO, Aqua Guardian.

f.l:  Bent Kristian Hasle, CEO Aqua Guardian AS og Tom Samuelsen, CEO PartnerPlast AS

Facts:

• Aqua Guardian AS was established in Skien, Norway in 2001. 6,5 MNOK turnover in 2018 and has 3 employees.
• PartnerPlast headoffice is located in Åndalsnes, Norway and the expected turnover in 2019 for the PartnerPlast Group is estimated t0 around 150 MNOK.
• The Partner Plast Group offers products and solutions to the Oil & Gas, Seismic and Aquaculture industries. Leading capabilities are in rotational and polyurethane molding as well as electronics development
• PartnerPlast is owned by Investinor AS, Salvesen & Thams Invest AS, Norsk Mineral AS and Oskar Invest AS.