Piper Alderman advises on international aquaculture company sale
National law firm, Piper Alderman, has advised AQ1 Systems on the sale of its world leading acoustic shrimp and fish feeding technology business to Danish global fish feed company, BioMar.
AQ1 will continue as an independent company with its own commercial set-up, business systems, and distribution channels, servicing both BioMar customers and customers with other feed providers.
AQ1’s Managing Director and founder, Ross Dodd, said:
“We very much look forward to the collaboration with BioMar and their parent company Schouw & Co who have significant investments in electronic and mechanical engineering. We believe this will enable us to develop new markets and create value from an extensive combined knowledge base and global reach. At the same time, we have a mutual interest in supporting the growth of the industry. I am sure, the new alliance will open many possibilities for technological innovation, which will benefit farmers around the world.”
The Piper Alderman team led by corporate partner, James Dickson with associate Ella Price, advised AQ1 Systems across all stages of the transaction, including assisting with vendor due diligence in multiple jurisdictions (Australia, Thailand, Panama and Japan), bidder selection and drafting and negotiating the transaction documentation.
Commenting on the transaction, James Dickson said:
“We are pleased to have supported AQ1’s shareholders in achieving this significant milestone as the company moves into its next phase of growth. We look forward to seeing the outcomes of the transaction as a catalyst for AQ1’s business and prospects going forward.”
Related media coverage
- BioMar buys business from AQ1 Systems – Lawyers Weekly, 18 may 2022
- Piper Alderman confirms role in AQ1 Systems sale to BioMar – Australasian Lawyer, 13 May 2022
- BioMar’s Acquisition of AQ1 Systems – Global Legal Chronicle, 4 May 2022