Torqx Capital Partners enters into a partnership with the former owners to acquire Ocean Nutrition, a leading premium nutrition expert for the aquatics and aquaculture segments
Torqx Capital Partners (“Torqx”) is pleased to announce that it has acquired a majority stake in Ocean Nutrition Europe and Marine Nutrition Thailand (together “Ocean Nutrition”) in partnership with the current owners Erik Van den Brande and Ward Brijs, who will continue to lead the company as active co-shareholders. Ocean Nutrition is a leading premium supplier of fish feed for both the marine and freshwater aquatics (also known as ornamental) segment, as well as the hatchery and broodstock aquaculture segments. In addition, the company is also active in specialized and innovative feed for biotech companies, laboratories and research facilities. Ocean Nutrition has its headquarters in Belgium, from where it serves a diverse set of customers including aquarium experts, distributors and aquaculture farms. In Thailand it operates a state-of-the-art production plant delivering high-quality dry, frozen and artemia-based nutrition for the group with direct sales to APAC-based aquaculture farms and aquatic distributors. Ocean Nutrition’s high-quality products represent a nutritional diet for a broad range of fish and shrimp species and adhere to strict quality controls.
Erik Van den Brande and Ward Brijs, current co-owners of Ocean Nutrition state that “Since the foundation of Ocean Nutrition, we have been very proud to deliver the highest-quality products and service to our customers with whom we have established long-lasting relationships. Today, we are a well-established company with a solid brand and reputation in the industry backed by a unique know-how. We see exciting growth opportunities ahead and look forward to exploring partnerships with like-minded firms to join our rapid growth curve. We are happy to join forces with Torqx who truly understand our business, our company’s DNA, and our dedication to supporting our customers and suppliers.”
Laurent Blumberg, Investment Director of Torqx, complements to Erik and Ward’s statement by mentioning that “Ocean Nutrition represents a unique opportunity to invest in an exceptional business and team that has for many years differentiated itself successfully as a truly innovative nutrition expert. We are very impressed with the achievements of Erik and Ward and the entire Ocean Nutrition team and admire the Company’s quality and the enthusiasm of its employees, excellent track record and persistent focus on building partnerships with customers and suppliers. We look forward to supporting Erik and Ward to pursue ambitious growth targets and complementary add-on acquisitions in the aquatics and aquaculture industry. This investment exemplifies Torqx’ deep experience of partnering and investing in owner-led businesses where it can support the company to deliver sustainable growth on an accelerated timeline.”
For this transaction, DLA Piper and NautaDutilh acted as legal advisors, and PWC provided the financial and tax due diligence. Common Ground acted as corporate finance advisor for the sellers.
About Ocean Nutrition and Ocean Life
Ocean Nutrition is a leading premium supplier of fish feed for both the marine and freshwater ornamental, as well as the hatchery aquaculture sector. The Company has c.75 FTE’s and is headquartered in Essen, near Antwerp (Belgium). It is supported by a high-standard factory in Thailand and covers all relevant geographies in Europe and APAC. Ocean Nutrition was originally founded over 40 years ago in San Diego (US) and after being part of a larger group, it has been acquired in 2009 by Erik and Ward who subsequently set up the factory in Thailand. Ocean Nutrition is known for its highly innovative nutritional solutions, its customer-focused approach and its strong dedication of its personnel. For more information please visit: www.oceannutrition.eu / www.ocean-aquaculture.com.
Going forward the holding entity, called Ocean Life, shall serve as a partnership vehicle to set up or acquire future entities.