Tank og Massetransport AS has been acquired by Scanbio Marine Group AS

The Norwegian Scanbio Marine Group AS (Scanbio), owned by the private equity firm Paine & Partners LLC, has acquired the remaining 85% shares of Tank og Massetransport AS for an undisclosed consideration.

Tank og Massetransport AS is an independently owned and operated Norwegian company, headquartered in Kleppestø, which manages the collection and storage of category-2 and category-3 fish by-product for transport to customers.

Scanbio was established in 1984 in Bjugn, Norway. The company specializes in the production of fish protein concentrate, fish oil and fishmeal from preserved by-products (silage) and fresh raw materials. Scanbio has three production plants in Norway and sales operations in Scotland.

New York-based Paine & Partners provides equity capital for management buyouts, going private transactions, and company expansion and growth programs. The firm currently makes investments through its US$1.2 billion fund, Paine & Partners Capital Fund III, L.P. and related entities.

Oaklins' team in Norway acted as financial advisor to the seller in this transaction.