Nekkar and BEWI Invest AS have announced their partnership through a joint investment in FiiZK, a supplier to the aquaculture industry. Among the company's products are fish farming cage systems and software tools to optimize fish farming planning, operations, and analysis.
The deal has been closed for a millionaire sum for participation in FiiZK. Each company will do it differently.
Specifically, Nekkar has acquired part of FiizK for NOK 50 million (EUR 4.3 million/USD 4.7 million), divided into two halves: one in cash and the other in the development of its Starfish. The Nekkar project provides a fully automated, digitally, and remotely managed closed fish cage solution.
On the other hand, BEWI will invest NOK 25 million (EUR 2.2 million/USD 2.4 million) in cash. Furthermore, other minority shareholders will invest NOK 10 million (EUR 867 thousand/USD 944 thousand) in cash in the newly established FiiZK group. Upon completing the transactions, Nekkar would have 39% of FiiZK and BEWI Invest 41%, making them the two major shareholders of FiiZK.
Both companies considered this joint step as a move toward the goal they wanted to achieve: the qualitative leap in the sector. In addition, both also made it clear that they will actively participate in the development of FiiZK.
"The timing of this investment is ideal as new technological solutions are needed to overcome the regulatory and environmental challenges the industry is facing," said Ole Falk Hansen, Nekkar CEO. "We are confident FiiZK will generate a monumental leap toward a more profitable and sustainable future for fish farmers. We are also delighted that Starfish finds its industrial home in specialist aquaculture company."
They expect to complete the transaction within October 2023, subject to customary conditions.
FiiZK is a leading provider of sustainable enclosed and semi-enclosed cage solutions for smolt, broodstock, and harvesting post-production. It has more than twenty successful installations in its portfolio, to which it has also added optimization software tools.
However, to be precise, it consists of three business units. The first one is based on the previously mentioned closed cages for fish hatcheries. The second is related to digital solutions for planning, optimization, and analysis with the Horizon, Omnia, and CONTROL products. The third and last are technical textiles, including tarpaulin-based products for fisheries, industry, agriculture, and logistics.
Based in Trondheim, Norway, with an international office in Scotland, UK. The company employs approximately 100 people and reached NOK 337 million (EUR 29.2 million/USD 31.8 million) in 2022.
BEWI Invest, a Norwegian industrial owner, boasts a high-quality portfolio spanning industry, real estate, and seafood. With a focus on long-term value creation and sustainability, they've driven growth in their portfolio through active, responsible ownership.
Nekkar is an industrial technology group specializing in impact technologies and advanced software solutions. With a 50-year legacy from Syncrolift, the world's leading ship lift company, actively commitcommitted to sustainable, digitalized technology ventures, propelling growth in ocean-based sectors such as offshore energy, renewables, and aquaculture.