Broodstock Capital strengthens ownership in Maritech

Broodstock Capital now owns 98 percent of Maritech Systems AS.

Broodstock Capital acquired 52 percent of the shares in Mariech in 2017. Now they have increased their ownership to 98 percent. Meanwhile, Maritech’s turnover has increased by about 140 percent.

The sellers are Midvest Funds (36 percent) and Bølgen Invest (10 percent). The transaction details have not been published. Chairman Mette Kamsvåg owns the remaining two percent of Maritech.

The aquaculture industry is still relatively analogous, but the digitilization wave we saw the contours of a couple of years ago has now started to increase in size. Maritech is in the forefront of this field and therefore has shown solid development over the last couple of years. The industry is much more mature today and we believe the big digital wave is ahead of us.

Kjetil Haga, partner in Broodstock Capital

Acquisition of Timpex AS

Broodstock Capital made yet another technology investment a few weeks ago when Maritech acquired software company Timpex AS, which provides software solutions to companies operating in logistics, transportation and customs. The system will now be fully launched in the seafood sector.

A financially sound owner like Broodstock enables us to consolidate in the industry and thereby create further added value for our customers. Through the acquisition of Timpex, we can deliver customized software solutions for the entire seafood value chain, from sea to table. Logistics and transport represent the largest cost for the seafood industry outside the product itself. By combining Timpex’s logistics technology with Maritech’s seafood software, we can help reduce our customers’ costs significantly.

Janne T. Morstøl, CEO Maritech.

One of the largest in Central Norway

Through the acquisition of Timpex, Maritech has become one of the largest software developers in central Norway. After the acquisition, the group will have more than 100 employees and a total turnover of more than 130 MNOK. The investments in both Maritech and Timpex align with Broodstock Capital’s strategy of investing in market leaders in the field of growth niches in the seafood industry.

We see a huge digitalization potential in the aquaculture industry and will most likely do more investments in this field.

Kjetil Haga, Broodstock Capital.