Currently, Neptun Salmo has land-based facilities in Røyklibotn in Botnan and Survik on Otterøya, both located in the municipality of Namsos, Nord-Trøndelag, Norway.
Photo: Broodstock Capital.
Norwegian seafood investor Broodstock Capital announced its entry into the shareholding of hatchery producer Neptun Salmo AS through the purchase of shares from existing owners and the injection of new equity capital. Following the transaction, the private equity firm will become the majority shareholder of the juvenile fish production company.
Established in 1990 and based in Nord-Trøndelag, Neptun Salmo is a traditional salmon hatchery producer that currently employs 16 people. Both the company and its team have several decades of experience in juvenile fish production.
In 2024, and after opening a brand-new production facility based on modern recirculation technology in the summer, Neptun Salmo had a turnover of approximately NOK 90 million (EUR 7.7 million / USD 8.8 million). By 2025, the company will have increased its total annual production to approximately 5.4 million smolt.
Broodstock Capital said this investment lays the groundwork for the development of a larger, independent juvenile fish producer, committing capital for future growth, both for expansion of current facilities and for acquisitions.
By enlarging smolts before release, the sea phase is shortened, allowing for better utilization of concessions, which is why much of the Norwegian industry now relies on post-smolt as a strategy to improve survival, welfare, and productivity. This is also how Broodstock Capital's investors see it.
"Everyone agrees that good juvenile fish are crucial," said Håkon Aglen Fredriksen, partner at Broodstock Capital. "We also believe that specialization in the value chain will be a sensible part of the continued industrialization of the sector."
"With Neptun, we now have a solid platform – with skilled people who have both decades of experience in juvenile fish and strong expertise in modern RAS technology. From there, we will use capital and determination to build something even bigger and even better," he continued.
"This is a classic industrial investment for Broodstock, where we take active ownership and bring our toolbox to make something good even better," added another partner at Broodstock Capital, Pål Kristian Moe. "We look forward to working with a skilled team at Neptun Salmo to realize the company's growth ambitions."
Founded in 2016, Broodstock Capital is, as mentioned, a Norwegian private equity partner and seafood investor with a clear performance strategy: turning local companies into global leaders through active ownership and close collaboration with owners and management.
According to the investment announcement, the initiative will be "targeted and focused." Neptun Salmo will produce traditional juvenile fish of the highest quality in close strategic collaboration with its customers, who, the company said, may include both traditional sea farms and post-smolt facilities.
"Our strategy is simple and clear: We will produce first-class juvenile fish on the fish's terms and be an independent and strategic partner for both post-smolt producers and traditional farmers across the country," said Neptun Salmo CEO Anders Bjørkli.
Following Broodstock Capital's arrival as a shareholder in Neptun Salmo, it will be represented on the Board by partners Håkon Aglen Fredriksen and Pål Kristian Moe. In addition, industry advisor Terje Eidesmo will take over as Chairman of the salmon hatchery producer's Board of Directors.