Nekkar completes investment in FiiZK

21 September 2023 – Reference is made to the stock exchange announcement dated 30 August 2023 regarding Nekkar’s joint investment with BEWI Invest AS in aquaculture industry supplier FiiZK. Nekkar and BEWI Invest have today completed the transaction.

FiiZK is the leading provider of closed cage systems for fish farming. The company also provides software tools for optimising fish farming planning, operations, and analysis.

Following completion of the transaction, Nekkar (39%) and BEWI Invest (41%) are the two largest shareholders of FiiZK Topco AS. Both companies will take active roles in developing FiiZK going forward.

Nekkar has invested a total of NOK 50 million for a 39 per cent ownership share in FiiZK. The consideration has consisted of NOK 25 million in cash and a NOK 25 million payment in-kind contribution through Nekkar’s cutting-edge Starfish – an automated, digitally, and remotely managed closed fish cage solution.

BEWI Invest has invested NOK 25 million in cash, and other existing minority shareholders have invested NOK 10 million in cash in FiiZK.

ABOUT BEWI INVEST AS

BEWI Invest is a Norwegian industrial owner with a high-quality portfolio mainly comprised of companies within industry, real estate, and seafood. The company has a long-term perspective and has demonstrated a proven track record of value creation and growth. Through active and responsible ownership, BEWI Invest has been instrumental in the growth and value creation in its portfolio companies with sustainability at the core. BEWI Invest is the majority owner of the listed packaging and insulations company BEWI ASA (OSE: BEWI) and the largest owner of the listed real estate group KMC Properties ASA (OSE: KMCP).