March 6, 2024

Swedish investment firm Summa Equity acquires fish health company STIM

Swedish investment firm Summa Equity has acquired STIM, a leading provider of fish health products and services, Fish Farmer reported.

The acquisition, which grants Summa a 75% controlling interest in STIM, underscores the company's commitment to fostering growth and innovation within the sector.

STIM, operating in key aquaculture markets such as Norway, Chile, the UK, and Canada, boasts a robust revenue of over EUR 150 million (US$162 million) in 2023. The precise financial details of the acquisition remain undisclosed.

Headquartered in Stockholm with additional offices in Oslo and Munich, Summa Equity specializes in impact investing, focusing on themes such as Resource Efficiency, Changing Demographics, and Tech-Enabled Transformation.

The strategic move comes following STIM founder Jim-Roger Nordly's pursuit of new strategic solutions, aided by advisers ABG Sundal Collier. Nordly's transition from CEO to a strategic role paved the way for Carl-Erik Arnesen, a seasoned figure in aquaculture previously associated with feed producer Polarfeed, to assume leadership.

Expressing optimism about the acquisition, Nordly emphasised Summa's alignment with STIM's long-term vision. He highlighted the pivotal role of STIM's employees and envisioned the company's ascent as a global leader in sustainability and health across the seafood industry.

Martin Gjølme, partner at Summa Equity, underscored the significance of aquaculture in shaping a sustainable food ecosystem. He focused on the challenges faced by the industry concerning fish welfare and mortality, including disease prevention and production protocols as critical areas for advancement. Gjølme expressed confidence in STIM's capacity to spearhead transformative initiatives in addressing these challenges and unlocking the industry's full potential.

-      Fish Farmer