Fjord Base is a leading Norwegian supply base, servicing major offshore energy and renewable companies along the Norwegian Continental Shelf from founding partners Semi AS ('Semi') and the WIS Group. Semi is retaining a strategic interest and therefore 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 group includes 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 a strong and established track record of providing critical infrastructure services to major multinational companies with on and off-shore operations in the region and has more 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’s 33% ownership of a 20MW green hydrogen project being developed on site in Florø and finally, its advanced plans to develop an ammonia bunkering facility at the base.

Ancala is an experienced investor in critical mid-market infrastructure. Founded in 2010 as an independent investment manager, Ancala adopts a unique approach combining differentiated investment sourcing with active asset management.

The Travers Smith team on this transaction was led by Corporate Partner Jonathan Walters, and included Senior Associate Joe Knox and Associate Fergus Macleod. Finance advice was provided by Partner Ben Thompson.

Jonathan Walters commented: "Our work on this strategic transaction continues to demonstrate our strong infrastructure investment credentials, and we look forward to Ancala working with Semi and the Fjord Base management team in growing the business and playing a key role in the energy transition within the region."

Wiersholm advised Ancala on the Norwegian law aspects of the transaction.

Our work on this transaction follows advising Ancala recently on their proposed €136.2 million acquisition of aerial emergency services businesses from Babcock International Group.