Accent Equity invests in Steen-Hansen as a new partner to management

14 December, 2021

• The investment fund Accent Equity 2017 has signed an agreement to acquire a majority stake in Steen-Hansen AS, a leading Norwegian coating and antifouling producer serving the aquaculture industry
• Steen-Hansen’s products are mostly used for improving fish welfare and the productivity of fish farms by protecting the fish nets. The company’s strong commitment to sustainability is evident by its leadership position in shifting the industry towards copper-free alternatives
• The current management team will remain as minority owners and continue to develop the company in close cooperation with Accent Equity

The investment fund Accent Equity 2017 and the owners of Steen-Hansen AS have entered into an agreement whereby Accent Equity acquires the majority of the Norwegian coating and antifouling producer. The management team will continue in their current roles and remain as minority owners of Steen-Hansen.

Steen-Hansen, with a history dating back to 1932, produces fish net impregnation and coating solutions, as well as industrial paint, in Bergen, Norway. The company has taken a leading role in the global aquaculture industry thanks to its pioneering drive towards environmentally friendly copper-free products and preventive fouling protection systems. In addition to newly developed environmentally friendly products the company has also introduced the quality standard NetCare® for net treatment, environmental certificates for sea farming sites as well as a recycling service for its product containers.

”We are impressed by Steen-Hansen’s leadership position in antifouling solutions for the aquaculture industry, and the company’s strong commitment to sustainability in general and fish welfare specifically. Through its deep know-how and innovative spirit, Steen-Hansen has a significant role to play in supporting the aquaculture industry to achieve higher productivity as well as more environmentally friendly fish farming. We look forward to supporting the management team in the continued development and growth of the company”, says Claes Bodell, Partner at Accent Equity.

“We are proud to welcome Accent Equity to our team. With their significant competence within value generation and sustainability we know they are a good match with the goals of Steen-Hansen and its management. With Accent Equity as the new main owner, we will be able to maintain the excellent culture of this company, while growing our environmental profile and contributing to a sustainable industry”, says Svein Ove Rabben, CEO of Steen-Hansen AS.

The transaction has been approved by the relevant competition authority and is expected to close in early January.

For more information, please contact:
Claes Bodell, Partner at Accent Equity, +46 (8) 545 073 28, claes.bodell@accentequity.se, +46 70 247 41 47
Ulrik Ulriksen, COO Steen-Hansen AS, +47 451 01 012, ulrik@steen-hansen.no, +45 2013 3739

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About Steen-Hansen:
Steen-Hansen AS is the global leader within antifouling and coatings for the aquaculture industry, offering both copper reduced and copper free products for net protection. The company also produces specialised paint systems for industrial applications, textile protection, passive fire protection and surface treatment with a strong focus on sustainability. All production and development activities are conducted at the brand-new facility in Bergen, Norway. Sales and distribution networks are present in all major aquaculture markets. The company has 32 employees, a subsidiary in Chile and recorded revenue of 268 million NOK (2020).
steen-hansen.no

About Accent Equity:
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop the companies to be Nordic, European or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns.
accentequity.se
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