Mørenot gets FSN Capital as a majority shareholder in the company

Mørenot Holding, a Søvik, Norway-based supplier of equipment and services to the world’s fishery- and aquaculture industries as well as marine seismic, announced entering into an angreement for selling a majority stake to FSN Capital

Current owners are 3rd and 4th generation descendants of the founders, and will re-invest alongside FSN Capital and continue to own a stake in Mørenot.

The financial details of the transaction remained undisclosed, and was made through the €1bn FSN Capital V fund, closed at the end of 2016.

Mørenot, founded in 1913 and led by chairman Sveinung Flem, has become a leader in the fast-growing market for equipment and services to the fishery and aquaculture industries. The company has a strong Norwegian heritage founded on quality products, excellent service and close relationships with its customers.

In 2017, Mørenot reported sales of approximately NOK 870M ($113M) and the Company has generated an organic sales CAGR of 8% between 2009 and 2017.