Private equity fund Summa Equity, the parent company of value-added salmon company Milarex, has acquired aquaculture and fish health service provider STIM from its parent Nordly Holding for an undisclosed amount.
Nordly Holding is owned by STIM Chairman and Founder Jim-Roger Nordly, who announced in October 2023 that he had initiated the sale process for STIM. At the time Nordly predicted a H1 2024 closing date – which proved true with the 4 March announcement by Summa Equity.
STIM is the developer of the SuperSmolt FeedOnly smolt optimization system, with offices in Norway, Chile, the United Kingdom, and Canada. The company was founded in 1988, and in 2023 it achieved a gross revenue of EUR 150 million (USD 162 million).
The goal of the acquisition is to expand STIM's growth beyond its current capacity, according to Nordly.
“I am convinced that Summa is the right strategic and long-term partner for us,” Nordly said in a release. “They recognize that our employees' expertise and efforts is the bedrock of this company. With Summa on our side, I am confident that STIM can become the world leader within sustainability and health, not just within the salmon industry, but for the seafood industry as a whole.”
Nordly said in October 2023 that the sale process is in the “best interest of the company,” as a means of expanding STIM.
Summa Equity Partner Martin Gjølme said STIM’s role as an aquaculture services provider fits with ...
