Sealaska has agreed terms to acquire a majority stake in Causeway Geotech, an Antrim business that employs over 100 people in Ballymoney and Balbriggan.
Run through a Seattle-based company called Woocheen, Sealaska’s ocean-health businesses tackle the challenges facing earth’s oceans in a variety of ways: supporting sustainably managed fisheries around the world, applying geotechnical expertise that keeps waters clean, and supporting the generation of energy from offshore wind.
Sealaska is an Alaska Native Corporation owned by c.23,000 Tlingit, Haida, and Tsimshian shareholders.
Profits from Sealaska’s businesses directly support Alaska Native communities with scholarships, economic opportunity, and revitalisation of indigenous culture and language.
Sealaska bought Chessington, UK-based New England Seafood International in 2020 and acquired Iceland’s Icemar and AG Seafood into its sustainable seafood group earlier this year.
In Association with
Causeway Geotech said its current shareholders are retaining ownership stakes.
"Sealaska’s vision is hugely exciting, and to be part of the journey is a position of privilege,” said Causeway director Darren O’Mahony.
“Our marine ground-investigation capabilities will be expanded, and our ability to move from nearshore to offshore waters will be developed to increase our market share in the offshore wind sector while continuing to serve our customers on land.
“Setting up Causeway and growing it to be the company it is today has been very challenging at times, but with the hard work and dedication from our employees it is now a strong and stable company, seen as the leader in ground investigation in the Irish market.
“We feel that Sealaska, given its origin and history, shares many of the same values as ourselves — trying to give opportunities to people to make a good living for themselves and their families, rewarding hard work and respecting each other. I see this as an opportunity to reward and thank people for their effort to date.”
Causeway Geotech Ltd has turnover of £8.8m in 2020 and booked an operating profit of £540,000. Total liabilities in December 2020 amounted to £3.2m and net worth was £920,000.
The business delivers a broad range of services to inform geotechnical and environmental conditions of sites throughout Ireland and Britain.
Terry Downes, CEO of Woocheen, stated: “Infrastructure development is huge in Europe, and Causeway Geotech has proven itself as a company that maintains tremendous integrity and quality while sustaining steady growth.
“Causeway is perfectly aligned with our aim to build a global organization where skilled people with a passion for our oceans have the freedom and support to do incredible things.”
