Site Review during Due Diligence of Regal
Springs Tilapia Grow-out Operations on Lake Toba, Sumatra, Indonesia.
Guyana. Overseas Private Investment Corporation (OPIC, an
international development financing arm of the U.S. government (opic.gov)). 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 controlling ownership of Regal Springs Tilapia.
2014-2015 Ghana, 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.