NP Innovation: Broodstock Capital Exits with Haf Investments

Deal News | Feb 20, 2025 | Broodstock Capital

NP Innovation: Broodstock Capital Exits with Haf Investments

Haf Investments, an Icelandic private equity fund focused on the seafood sector, has acquired NP Innovation, a leading developer and producer of water treatment products for aquaculture. This acquisition, which awaits approval from Iceland's Competition Authority, aims to bolster Haf's portfolio and promote sustainable growth within aquaculture. NP Innovation, based in Malmo, Sweden, presents strong market potential with its advanced water treatment solutions, such as disc and drum filters, already widely applied in Atlantic salmon farming and other aquaculture applications. Under new ownership, NP Innovation aims to enhance its product portfolio and continue its expansion into new markets. Broodstock Capital exits its investment in NP Innovation but will remain engaged as a board member, reinforcing its connection with NP as the company embarks on its next growth phase. The deal highlights Haf's commitment to enhancing fish health and sustainable water use while expanding their investments in the seafood industry, notably around the Arctic Circle.

Sectors

  • Aquaculture
  • Wastewater Treatment
  • Private Equity

Geography

  • Iceland – Haf Investments is based in Iceland and the country represents a core geographical focus for the fund.
  • Sweden – NP Innovation, the target company in the acquisition, is headquartered in Malmo, Sweden.
  • Norway – Norway is a significant market for NP Innovation's aquaculture solutions, particularly in Atlantic salmon farming.

Industry

  • Aquaculture – This industry involves the cultivation of aquatic organisms such as fish, in controlled environments; relevant to NP Innovation's water treatment solutions.
  • Wastewater Treatment – NP Innovation provides water treatment solutions, including filtration and biofiltration, critical for the aquaculture sector.
  • Private Equity – Both Broodstock Capital and Haf Investments are engaged in private equity investments, focusing on seafood and aquaculture sectors.

Financials

  • SEK 180 million – NP Innovation's consolidated sales for the year 2024.
  • ISK 10 billion – Total fund size of Haf Investments, allocated for seafood industry investments.

Participants

NameRoleTypeDescription
NP InnovationTarget CompanyCompanyA leading international developer and producer of water treatment products for aquaculture.
Broodstock CapitalSelling CompanyCompanyA Norwegian private equity firm and the seller in this transaction.
Haf InvestmentsBidding CompanyCompanyAn Icelandic private equity fund specializing in the seafood sector, acquiring NP Innovation.
DeloitteFinancial AdvisorCompanyServed as the lead advisor to Haf Investments for this acquisition, with support from Deloitte in Sweden.
HaavindLegal AdvisorCompanyAdvised on the seller side, Broodstock Capital.
Michael BrnhielmCEO of NP InnovationPersonCurrent CEO of NP Innovation, instrumental in articulating future expansion plans.
Kristín Auður ViðarssdóttirCEO of Haf InvestmentsPersonCEO of the acquiring firm, logistics behind the strategic acquisition.
Rúnólfur Viðar GuðmundssonCEO of UR SeafoodPersonCEO of UR Seafood, cornerstone investor in Haf Investments.
Håkon Aglen FredriksenPartner at Broodstock CapitalPersonPartner at Broodstock Capital, commented on the firm’s continued support for NP Innovation.