ABG Sundal Collier acted as financial advisor to Longship and the founders in connection with the sale of Nofitech to Summa Equity and Longship Fund II

On Monday 5 July 2021, it was announced that Longship brings Summa Equity on board through the sale of a majority holding in Nofitech (the ‘Company’). Nofitech, based in Trondheim, is a turnkey supplier of modular recirculating aquaculture systems (RAS) for land-based fish farming, focusing on modules for post-smolt, smolt, broodstock and grow-out.
Longship Fund I invested in Nofitech in 2018 and has since owned and developed the Company together with the founders and management. The Company is experiencing strong growth and has a solid contract backlog including deliveries to blue chip salmon farmers. Longship will through its second fund invest in partnership with Summa to further realise the Company’s full potential. The transaction makes Summa the largest shareholder with ~50%, whilst Longship Fund II will acquire ~30% and the residual being owned by members of management and the board of directors.