Redox acquires Norluft

“Our ambition is to become the leading supplier of cost-efficient ozone and oxygen solutions to the seafood industry. The acquisition of Norluft fits perfectly with this strategy, both technologically and geographically,” Redox Managing Director, Jonas Bergman, said.

“We secure unique competence and geographical presence in an important fish farming region through the acquisition of Norluft. We are impressed with Norluft’s development and how they are able to create innovative solutions that ensure better oxygen supply and subsequently improved fish health.”

Ranheim-headquartered Norluft is a supplier of oxygen and nitrogen systems to the seafood sector, including supplying compressed air systems and control systems to aquaculture oxygenation systems. It also provides marine services for wellboats, de-lousing barges and other vessels. Norluft is headquartered in Ranheim in Trøndelag county, Norway, and offers its products and services throughout Central Norway.

Averøy-based Redox has acquired 100% percent of the shares of Norluft, which generated revenues of NOK 42 million in 2021.

The two parties have agreed to not disclose the financial details of the transaction.

“We have grown rapidly in an attractive and exciting market segment. Redox emerged as the most forward-thinking and competent player that can provide us with the professional environment we want as part of our continued development,” Norluft Managing Director, Øyvind Sørgård, said.

Norluft will remain as company and brand, and Sørgård will continues in his role.

“Redox is clear that they want to continue building Norluft. We therefore aim to hire new employees to strengthen our team and facilitate further growth,” he said.

Redox’s majority owner is Nordic seafood investor Bluefront Equity, which invested in Redox in May last year. Redox has since continued its positive development and aims for revenues of NOK 180-200 million in 2022.

Bluefront Equity’s industry adviser, Alf-Helge Aarskog, is chairman of Redox.