In a strategic move to expand its presence in Europe and strengthen its position in offshore and aquaculture solutions, Garware Technical Fibres Limited (GTFL) has announced that its UK-based subsidiary has entered into a definitive agreement to acquire Offshore & Trawl Supply AS (OTS), a prominent Norwegian company specializing in high-performance synthetic cordage for the offshore energy, aquaculture, and commercial marine sectors.
This acquisition is a major step forward in GTFL’s global growth plan and reinforces its focus on capital-efficient, innovation-led development. Headquartered in Valderøya near Ålesund, Norway, OTS has a well-established reputation across Northern Europe for engineering durable, high-strength synthetic ropes used in demanding marine and industrial operations.
OTS’s expertise and product lines complement GTFL’s existing offerings across fisheries, aquaculture, and industrial applications. This deal will open access to new geographies and customer segments while adding niche capabilities to GTFL’s portfolio.
Vayu Garware, Chairman & Managing Director of GTFL, commented “This isn’t just an expansion—it’s a convergence of shared values. OTS is highly respected for its design excellence and deep customer focus. With this partnership, we aim to take their innovations to a global audience and jointly develop advanced solutions for demanding applications.”
The acquisition also brings onboard a team of experienced Norwegian engineers and technical professionals known for their expertise and hands-on innovation. Founded by Rolf Arne Gåsemyr and his leadership team, OTS has built a reputation for quality, reliability, and tailored solutions in harsh environments.
“We are proud to carry forward the strong legacy built by Rolf and the OTS team,” Mr Garware added. “Their dedication aligns closely with our values, and we are committed to scaling their strengths on a larger platform.”
The acquisition will be funded through GTFL’s internal accruals, with no external borrowing. The transaction is expected to be both EPS-accretive and positive for Return on Capital Employed (RoCE), consistent with GTFL’s disciplined approach to capital allocation.
Stein Frode Dulling-Ness, CEO of OTS, welcomed the deal, “GTFL’s global network and commitment to innovation make this partnership a perfect fit. We see this as a tremendous opportunity to grow our reach and bring new solutions to our clients.”
Based in Pune, India, Garware Technical Fibres Limited is a global leader in high-performance polymer-based solutions. With over five decades of experience and operations in more than 75 countries, the company serves diverse sectors including aquaculture, sports infrastructure, agriculture, coated fabrics, and geosynthetics. GTFL is publicly listed on BSE (509557) and NSE (GARFIBRES) and is recognized among the top 25 manufacturing companies in India’s “Great Place to Work” rankings.
Located on Norway’s North Atlantic coast, OTS is a trusted manufacturer of engineered synthetic cordage products for offshore oil & gas, wind energy, fisheries, lifting, and marine towing applications. Its durable, high-performance ropes are widely used across Northern Europe and have earned the trust of global operators for performance in challenging environments.
