InnovaSea lands WMT acquisition deal
By RAStech staff
By RAStech staff
Innovasea Systems, Inc. of Boston, Massachusetts, U.S.A., has acquired all of the outstanding shares of land-based aquaculture system technology firm Water Management Technologies Inc. (WMT) of Baton Rouge, Louisiana.
WMT will become a new business unit within Innovasea, named Land Systems, and operate alongside the existing Farm Systems, Instrumentation and Fish Tracking business units. Terry McCarthy, president of WMT, will lead the new Land Systems business unit as vice-president and general manager.
For 25 years, WMT has designed and supplied Intake, Effluent and Complete Recirculating Aquaculture Systems (RAS) to commercial fish farms, aquaculture research entities and government hatcheries worldwide.
Innovasea Systems enables sustainable use of ocean and freshwater ecosystems. Through its Farm Systems, Instrumentation and Fish Tracking business units, Innovasea is creating a comprehensive, sustainable solution for open-ocean aquaculture, the company said.
“With the vigorous growth underway within the recirculating aquaculture systems sector, becoming part of the Innovasea team will significantly broaden our capability and also provide the needed resources to grow and capitalize on the opportunities presently in the marketplace,” McCarthy said.
The acquisition of WMT will add nursery and hatchery solutions to Innovasea’s existing open-ocean grow-out systems, said David Kelly, CEO of Innovasea, citing WMT’s “expertise” in both freshwater and saltwater systems.
“This enables Innovasea to provide complete egg to harvest solutions for our clients,” Kelly said.