Norway’s Broodstock Capital acquire 50% shares

The goal is to develop even better services for the company’s customers by strengthening professional competence and the focus on R&D, and stepping up Åkerblå’s international efforts, stated in a report by iLaks.

About Åkerblå

Åkerblå was established in 1991 under the name Havbrukstjenesten, but changed its name to Åkerblå in 2014. The company provides consulting and certification services in fish health, environment and technical operations, primarily to fish farming companies. Åkerblå also offers services to the well boat and service boat industry, the pharmaceutical industry, research and education institutions and the public sector.

Åkerblå is the only company in the world that has accreditation on fish health control, and the only one in Norway that has accreditation within both fish health control, environmental surveys and technical services.

Åkerblå is a company that has succeeded through using a strategy based around local presence where their customers are. The company has been able to build, year on year. Broodstock Capital‘s strategy is to invest in market leaders of niche areas in the seafood supplier industry and to own and develop businesses in partnership with entrepreneurs and management. “The investment in Åkerblå therefore represents the core of what we want to be,” says Simen Landmark, partner in Broodstock Capital.

Åkerblå has approximately 85 employees in 13 branch offices along large parts of the Norwegian coast, with headquarters at Frøya in Trøndelag. In 2018, the business had a turnover of approximately NOK 100 million, with a positive operating result, which is expected to be marginally in line with the previous year.

Broodstock Capital Investment

Broodstock Capital’s investment consists of a combination of share purchases and capital contributions in order to facilitate further development and growth, both in Norway and internationally. Today’s owners and Broodstock Capital have made a total of NOK 20 million.

After the transactions are completed, Broodstock Capital will own half the company. The other half is owned by current owners Arild Kjerstad, Asgeir Østvik and Roger Sørensen. Roger Sørensen continues the role of general manager of the company.

“With Broodstock Capital on the team, we receive both expertise and capital. It gives us the opportunity to invest even more in professional competence, R&D and system development that will benefit our customers. We want to digitize even more of our services, so that the customers’ data can be made even easier for them, ”says Roger Sørensen.

Sørensen shows, among other things, that the company recently established a dedicated R&D department to become an even more attractive partner for industry, industry universities and research institutions.

“We will also step up our commitment to our skilled professionals, both through further competence-enhancing measures and the development of new technology in all our service areas,” adds Roger Sørensen.

International Investment

Today, the majority of Åkerblå’s business is related to the Norwegian aquaculture industry. Outside Norway, the company has activities in Iceland as well as in Canada and Spain. With new owners on the team, the ambition is to step up the international venture.

“The expertise and systems Åkerblå possess are transferable to other aquaculture markets. We therefore have the ambition to build up the world’s leading competence environment in knowledge-based marine health. Broodstock Capital has significant international activity through our portfolio companies. We anticipate that Åkerblå will capitalize on this network in order to get into new markets as quickly as possible and further strengthen the presence in the countries in which the business is already present, ”says Håkon Aglen Fredriksen, partner in Broodstock Capital.

Håkon Aglen Fredriksen and Simen Landmark in Broodstock Capital enter as new board members in Åkerblå. Pål Kristian Moe, partner in the Trondheim-based consulting company Impello Management, becomes new chair of the company, while Arild Kjerstad and Asgeir Østvik continue as board members.

Broodstock Capital’s funds focus solely on investments in small and medium-sized enterprises in the seafood industry in general and in the supplier industry specifically. In addition to the investment in Åkerblå, Broodstock Capital has ownership of the laundry robot supplier MPI, RAS supplier Billund Aquaculture, the software company Maritech Systems and the water treatment actor NP Innovation.

Editor: AquaculrueList

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