Bluefront acquires majority Aqua Kompetanse stake
Seafood-focused investment firm Bluefront Equity has acquired a majority stake in Aqua Kompetanse, becoming the largest shareholder of the rapidly growing fish and marine health advisory company.
The company supports the aquaculture industry with fish health services, environmental surveys, site applications, hydrographic and wave modelling, and ongoing R&D initiatives.
“Aqua Kompetanse’s vision is ‘healthy fish and clean oceans’,” said Simen Landmark, chief investment officer at Bluefront Equity.
“This aligns perfectly with our strategy of investing in companies that make the supply chain more sustainable, accessible and responsibly managed.”
Headquartered in Flatanger, Trøndelag, Aqua Kompetanse has offices throughout Norway and employs around 80 people. From 2021 to 2024, the company nearly doubled its revenue, from NOK 66 million (€5.65 million) to NOK 113 million (€9.68 million). It expects to reach NOK 130 million (€11.13 million) in 2025, with a return to profitability after major growth investments.
“Proximity and knowledge are key to delivering services supporting sustainable growth in the aquaculture industry,” said Hans Jørgen Sandnes, managing director of Aqua Kompetanse. “Bluefront’s investment philosophy aligns well with our values, and their industry knowledge, network and financial resources will help us expand further.”
Following the transaction, Bluefront Equity will hold a 55% stake in Aqua Kompetanse. Previous main shareholder Havbruksparken Utvikling retains 18%, with the remainder held by founders and employees. The investment was made through Bluefront’s second fund, Bluefront Capital II. Financial terms were not disclosed.
As part of the deal, Jan Sverre Røsstad, former executive vice president at BioMar, has been appointed chair of the board. Bluefront’s Landmark and Karina Wessel will also join the board.
