Bluefront Equity has increased its ownership share to 82% in Redox AS. This is up from the 52% that the seafood investor acquired when it became the majority shareholder in May 2021.
Redox AS is a Norwegian ozone and oxygen specialist. It develops environmentally friendly technologies which improve fish welfare and biosecurity for the aquaculture industry, plus reduces chemical discharges.
"Redox is developing exactly as we and the management want it to. There is strong demand for the company's products from the aquaculture industry. In addition, it has developed an exciting NOx-reducing technology for use in the land-based process industry. We see plenty of opportunities for the company and therefore chose to accept the opportunity to further increase our ownership share," says Kjetil Haga, partner at Bluefront Equity and board member in Redox AS.
Redox has developed an ozone system that ensures a bacteria-free production facility. Ozone is 50% more powerful and reacts 3,000 times quicker than chlorine, and it is both safer and more environmentally friendly compared to chlorine and other antimicrobial agents.
Ozone is therefore particularly well suited for disinfection use in the food and marine industries. Within the aquaculture industry, the ozone systems are utilized to disinfect several parts of the value chain, including land-based facilities' water intake and equipment between different batches of fish.
Selling the shares in the transaction is Sirø Invest AS, the investment company of Redox's business developer, Sigmund Røeggen. The parties have not disclosed the financial details.
"I will be 70 years old next year and I'm not getting any younger anytime soon. Bluefront Equity has proven to be a valuable and inspiring owner. The divestment of my shareholding is therefore carried out with the support of other shareholders in Redox," says Sigmund Røeggen.
Bluefront Equity is the only independent Nordic investor that focuses solely on the seafood industry. Its first fund primarily aims to invest in supplier companies that ensure increased traceability, better fish health, and welfare, enhanced quality of the end-product, improved hygiene, and contribute towards digitizing the seafood industry.
