Nofitech

NOFITECH delivers land-based aquaculture facilities based on recirculating aquaculture systems (RAS). The company experienced high growth and demand but saw the need to implement significant changes to realize its potential. The company wanted a growth partner that could bring capital, organization and sale/network resources. Impello assisted in identification of potential partners, in negotiations and in the closing of the transaction. After a process with multiple bidders, the PE fund Longship became the majority owner of NOFITECH in the spring of 2018.

Team: Bjørnar Reitan, Thomas Kvaal

Location

Trondheim

Employees

Sector

Aquaculture

Revenues 2018

NOK 71 million

"In the spring of 2017 we were in a situation with strong growth and high demand for our services. The need for industrialization, professionalism and utilization of market opportunities drove the need for a strategic partner. We hired Impello to lead a structured partner search process. The project ended with PE fond Longship as majority owner early in 2018. They were chosen based on a very good strategic match (agreement on growth strategy and opportunities) and that they could provide what we needed, including growth capital, professionalism, recruitment, network, etc. Choosing Impello was very right for us: the process was conducted efficient and professionally, and resulted in a very good solution for both the company and the owners. Our advise: use an adviser - and find the right one." - Geir Løvik and John Hestad, founders of Nofitech

Photo: Nofitech

2018: Sale of Nowergian Fishfarming Technologies to Longship

Customer statement