SuperSmolt developer STIM is up for sale
Owner seeking a buyer who can take company to new heights
Farmed fish health products and services company STIM, which is perhaps best known for its SuperSmolt FeedOnly innovation, has been put on the market by owner Jim Roger-Nordly.
His company, Nordly Holding, has initiated the process of identifying new strategic solutions for the ownership in STIM. ABG Sundal Collier has been hired to carry out the process.
In a press release, Norwegian-headquartered STIM said that with offices in Norway, Chile, the United Kingdom, and Canada, the company had established a prominent position in the global aquaculture industry and is growing in all business areas, from the supply of pharmaceuticals and fish health products to fish health services, environmental surveys, and consulting services. Last year’s sales record of NOK 1.206 billion (£90 million at current exchange rates) was surpassed in September of this year.
A key player
In Norway, STIM has been a key player almost since the industry’s inception, the company said. It was involved in introducing the first oil-based vaccines, which became the solution to the massive disease challenges of the 1980s. The focus on improvements in fish health and biological results has been a consistent theme throughout the company’s 35-year history.
The company has been responsible for developments such as improved methodology for fish smoltification (SuperSmolt FeedOnly), new anaesthetics, and the use of bacteriophages to combat harmful bacteria in aquaculture. Innovations include Benzoak, and STIM PRO. In Chile, STIM has developed products such as Lyptus Plus, C3COS, and Welf-Care Plus, which are now poised for introduction in other markets.
STIM said that along the way it had built a highly competent advisory environment in fish health, marine environment, production optimisation, spatial issues, and regulatory matters.
Unique expertise
“STIM possesses a unique breadth of biological expertise, which is in high demand in the global aquaculture industry,” said Nordly.
“It is primarily through improvements in biology, fish health, and fish welfare that the industry’s enormous inherent potential can be unlocked. These are fields where STIM already plays a key role and enjoys great trust.
Virtually all of the world’s salmon farmers are on our customer lists
STIM owner Jim-Roger Nordly
“Virtually all of the world’s salmon farmers are on our customer lists today, and with increasing activity and sales year after year, STIM is in a very robust position. That is why it is also appropriate for the company to explore alternative ownership structures now.”
Nordly expects the ownership process to be concluded during the first half of 2024.
“It will be an interesting process, which I am confident will result in a solution that is in the best interest of the company. The precondition, of course, is that we find the right owners who share our values and possess the appropriate competence and ambition to take STIM to new heights,” said Nordly.
