Funds managed by Pioneer Point Partners and Verdane are acquiring fish waste management company Scanbio Marine.
Pioneer Point’s €575m Pioneer Infrastructure Partners fund and Verdane’s €300m Verdane Idun impact fund have invested an undisclosed sum in Norway headquartered Scanbio to help scale the business as it moves to become a “leading aquaculture waste management company for the creation of high-value end products”.
Established in 1984, Scanbio collects and processes fish waste to produce sustainable end-products for the animal feed, industrial production, and bioenergy sectors. Scanbio also provides aqua logistics services to the Norwegian fish farming markets.
As part of the investment, Pioneer and Verdane have also agreed acquisition finance and a revolving credit facility with Norwegian bank DNB.
The acquisition of Scanbio is the Pioneer Point fund’s third investment and the Verdane fund’s fifth.
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