Site Review during Due Diligence of Regal
Springs Tilapia Grow-out Operations on Lake Toba, Sumatra, Indonesia.
Guyana. Overseas Private Investment Corporation (OPIC, the
financing branch of the U.S. State Department). Provided the Due Diligence for OPIC
regarding the consortium of CARANA and related entities that constitute CADP (CARANA Agriculture Development Partnership). CADP sought to produce the fish tambaqui (Colossoma macropomum), tilapia and habanero
peppers, for export of processed fish and pepper products from Guyana to the United States. The fish were to be semi-intensively pond-cultured to market size. The
combined project was presented as US$35.5M. CADP sought $10M in debt
financing from OPIC. The AquaMatrix Team of Dr. Woiwode, Dr. Fitzsimmons and Dr. Jensen
assessed the risk of the venture for OPIC.
2015-2016 Indonesia, Honduras, Mexico.
ORIX (Japan). Provided Due Diligence for ORIX, who was interested to invest
in or acquire the world’s largest tilapia producer, Regal Springs Tilapia, with annual sales greater than US$275M. Reviewed hatchery, production, processing and feed production operations on Sumatra and Java, Indonesia;
Honduras and Chiapas, Mexico. Assessed the technical performance and provided detailed
reviews of all sites. Developed SWOT analyses and identified Key Performance Indicators. Provided a conceptual action plan to remediate the observed weaknesses of the hatchery system. This assessment of the overall technical risk of the venture subsequently led ORIX to acquire
ownership of Regal Springs Tilapia.
West Africa. Overseas Private Investment Corporation (OPIC).
Provided the Due Diligence for OPIC regarding AquaPrima-Ghana (APG)’s proposed $9.5M intensive Tilapia grow-out facility and supporting hatchery, utilizing gravity-fed
water from the Upper Volta Reservoir for flow-through intensive pond culture of monosex tilapia.
Dr. Woiwode and Dr. Fitzsimmons were Principals on the AquaMatrix team that
assessed the risk of the Tilapia venture for OPIC.