STIM reported a gross revenue of over €150 million in 2023.
Norway-based fish health group STIM has announced a partnership with Summa Equity.
As part of the partnership, Summa Equity will be investing in STIM in return for a 75% stake, a spokesperson for the company confirmed to SalmonBusiness.
The deal is being made through Summa Equity Fund III.
STIM, operational for more than 30 years, reported a gross revenue of over €150 million in 2023. The company is involved in various aspects of fish health, environmental surveys, and regulatory advice in the aquaculture industry.
The fish health specialist holds a 60 percent market share in the distribution of fish health products in Norway — the largest market globally — and has 95 percent of the world’s salmon farmers as its clients, according to the companuy
STIM’s founder, Jim-Roger Nordly, and CEO, Carl-Erik Arnesen, have stated their commitment to maintaining the company’s operational focus following the partnership.
“I am convinced that Summa is the right strategic and long-term partner for us. 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. There is a huge demand for advisory services within this sector, and that is something we have our eyes on,” said Nordly.
“We are not going to comment on the price. Of the deal but we have been following the aquaculture sector since the inception, Martin Gjølme, Partner at Summa told SalmonBusiness. “This is a partnership between us and the original founder and we are both excited about what we bring to the table.”
Summa Equity, established in 2016, manages approximately €5 billion in assets and focuses on impact investing in areas such as resource efficiency and tech-enabled transformation. The firm has offices in Stockholm, Oslo, and Munich.
STIM is owned by former CEO Jim-Roger Nordly, who had controlled 100 percent of the company via Nordly Holding and Pitancia.
