UK fund manager Ancala Partners has acquired a 75% stake in Fjord Base Holding Group.
Fjord Base (pictured) is a leading Norwegian supply base, servicing major offshore energy and renewable companies along the Norwegian Continental Shelf from founding partners Semi AS and the WIS Group.
Semi AS are retaining a strategic interest, partnering with Ancala in the future operation and development of the base.
Fjord Base is Norway’s largest supply base by area and is located at Florø on Norway’s western coast, handling 2,000 ships per year and 400 kilotons over quay per annum.
The company is comprised of Fjord Base AS, which is responsible for the development, leasing, construction and management of buildings, quays and technical facilities, and Saga Fjordbase AS, the integrated logistics provider that delivers total logistics services to all customers at Fjord Base.
Fjord Base has recently expanded its services to on and off-shore renewable energy operators, making it a key player in the energy transition in Norway.
Fjord Base’s growing exposure to renewable energy is a key driving force for the company and builds on a track record which includes the provision of infrastructure services to nearby onshore wind farms.
The company also holds a 33% stake in a 20MW green hydrogen project being developed on site at Fjord Base and there are advanced plans to develop an ammonia bunkering facility at the base.
The base is uniquely positioned given its deep expertise and location to further expand its services to these sectors.
Tim Power, director at Ancala, said: “We are excited to be making this investment having worked closely with the vendors and management team over recent years.
“Fjord Base has a proven track record of delivering incremental, customer-led growth projects with major multi-national clients, and we look forward to partnering with Fjord Base’s CEO Ole and our co-shareholder Semi AS in growing the business and playing a key role in the energy transition within the region.
“We see substantial opportunities for the company, with an exciting future in the provision of infrastructure services to floating offshore wind developments and the investments the company is making in hydrogen, ammonia and aquaculture activities.
“We respect the legacy that WIS Group and Semi AS have built at Fjord Base, the calibre of the management team and staff base at the site and we thank the shareholders for the faith that they have put in us as a major future custodian of the base and member of the local Florø community.”