Summa Equity partners with STIM AS to advance fish health and sustainability in aquaculture
Through a strategic partnership, the companies will collectively pursue their shared objective of aquaculture innovation and improved fish health.
STOCKHOLM, 4 MARCH 2024: Summa Equity (“Summa”) today announces its investment in fish health market leader STIM AS (”STIM”), partnering with its founder Jim-Roger Nordly.
“Aquaculture is one of the key building blocks in the sustainable food system of the future due to its low carbon footprint, scalability, and high feed efficiency. But as a young industry it faces challenges related to fish welfare and mortality. Solving these challenges through disease prevention, sound production protocols, genetics and nutrition will be key to unlock the industry's full potential. STIM is ideally positioned to take the lead role in that transformation,” says Martin Gjølme, Partner at Summa.
STIM is the aquaculture industry's largest quality supplier of fish health products and services, with several ground-breaking innovations under its belt. For over three decades STIM has contributed to a more sustainable aquaculture industry by providing transformative innovations that improve fish health, growth, and profitability. The company is well-positioned in several markets through its knowledgeable teams and unique cross-disciplinary competence. The gross revenue of the company was north of EUR 150m in 2023.
The partnership with Summa is motivated by STIM and founder Jim-Roger Nordly’s drive to establish new growth verticals, intensify product development and expand its service-offering in aquaculture worldwide.
“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,” says Jim-Roger Nordly, Chairman and Founder of STIM.
“We have followed STIM’s journey since the inception of Summa. STIM's expertise within fish health and biology is unparallelled, and with Summa’s long-term perspective and track record in the aquaculture industry, we are certain we can be a true partner to solving some of the largest challenges the industry is facing,” says Gjølme.
“Summa will be an important partner as we expand our strategic initiatives across existing and new markets. That being said, my focus is always to maintain business as usual at STIM. Our priority is to deliver products, services, solutions, and advice that contribute to positive biological outcomes and growth for our customers,” says Carl-Erik Arnesen, CEO of STIM.
The acquisition of STIM is being made by Summa Equity Fund III and contributes positively to UN Sustainable Development Goal #2.4 (‘Zero Hunger’ – sustainable food production) and #14.4 (‘Life Under Water’ - sustainable fishing).
About STIM
STIM is the aquaculture industry's largest quality supplier of fish health products and services, with several ground-breaking innovations under its belt.
STIM strives for a holistic perspective, building on the experience from vaccines and pharmaceuticals with the expertise that lies in our broad range of services in fish health services, marine environmental surveys, support for area applications and plans, as well as regulatory advice.
After 33 years side by side with the aquaculture industry, STIM is in a unique position as a supplier of both expertise, products, and services - all the way from planning to processing. STIM is established in Norway, Chile, UK, and Canada.
www.stim.no
About Summa
Founded in 2016, Summa is an impact investor focusing on three thematic areas: Resource Efficiency, Changing Demographics, and Tech-Enabled Transformation. The purpose of Summa is to invest in solving our global challenges.
Summa has c. EUR 5 billion in assets under management and has made over 30 platform investments across the three funds raised to date. The investments have the potential for long-term sustainable outperformance because they address some of the social, environmental, and governmental challenges we need to solve as a society.
The team is located in Northern Europe, with offices in Stockholm, Oslo, and Munich. Partnerships are part of Summa’s DNA, exemplified by being a certified B Corporation and collaborating with Harvard Business School and the International Foundation for Valuing Impacts (IFVI).
www.summaequity.com
For interviews or more information, please contact:
Hannah Gunvor Jacobsen, Partner, COO and Head of IR at Summa Equity
+47 936 41 960 | hannah.jacobsen@summaequity.com
Øystein Bie Pettersen, Press Officer, STIM
+47 913 85 465 | oystein.pettersen@stim.no
