Verdane and Pioneer Point Partners acquire Scanbio Marine Group AS to build Europe’s leading aquaculture waste management provider
Pioneer Point Partners LLP, the sustainable infrastructure investment firm, and Verdane, the European specialist growth equity investor, have entered into an agreement to invest in Scanbio Marine Group AS, the world-leading fish waste management company, headquartered in Norway.
The partnership, which is Pioneer’s third investment from its €575 million fund, Pioneer Infrastructure Partners SCSp, and the fifth from Verdane’s €300 million Verdane Idun impact fund, will serve to accelerate and scale Scanbio’s business as it moves to become a leading aquaculture waste management company for the creation of high value end products. The Company is strongly aligned with Pioneer and Verdane’s objectives of contributing to the green transition, to the circular economy, and to sustainable food production.
Scanbio, which was established in 1984, collects and processes fish waste to produce high-value, sustainable end products for the animal feed, industrial production, and bioenergy sectors. It also provides critical aqua logistics services to the Norwegian fish farming markets. The Company is a strong example of a purpose-driven company enabling a more circular economy, as it focuses on the upcycling of waste and allows businesses to reduce their use of resource-intensive commodities, such as soybeans and natural gas.
Scanbio is the world leader in its subsector and has a large operational footprint, with sites and facilities across the western coast of Norway and an additional presence in Northern Europe.
As part of the investment, the parties have also secured a loan agreement, including acquisition finance and a revolving credit facility, with DNB, Norway’s leading bank. The facility has been classified as a Green Loan, further validating the strong sustainable profile of the business.
The capital is being deployed in line with both Pioneer’s and Verdane’s investment strategies and in line with their respective classifications as “Article 9” funds under the European Union’s Sustainable Finance Disclosure Regulation.
Verdane is a specialist growth equity investment firm that partners with tech-enabled and sustainable European businesses to help them reach the next stage of international growth. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy behind three core themes; the Digital Consumer, Software Everywhere and Sustainable Society. Verdane funds hold closer to €4 billion in total commitments and have made over 135 investments in fast-growing businesses since 2003. Verdane’s team of over 100 investment professionals and operating experts, based out of Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
More info: www.verdane.com
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Pioneer Point Partners
Established in 2008, Pioneer Point Partners is a leading European sustainable infrastructure
investor and has committed over €1 billion to date. Led by its four founding partners, with over
90 years’ collective private equity investment experience across Western Europe, Pioneer has
grown to become a strong institutional investment management team supported by industry advisors. Since inception, Pioneer’s strategic approach has exclusively targeted the European lower mid-market, value-add infrastructure sector and, particularly, in the energy transition and environment sectors.
More info: www.pioneerpoint.com
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