Bluefront Equity divests Bio Marine. Impact investor Bluefront Equity (Bluefront) has entered into an agreement to divest aquaculture industry supplier Bio Marine AS to leading European sustainability investor Ambienta.
“Since we became majority shareholder in 2022, Bio Marine’s revenue, operating profit and workforce have quadrupled. Owning and developing the company together with the fantastic Bio Marine-team has been a privilege. We are proud of how the company has evolved during our stewardship,” says Simen Landmark, Bluefront’s chief investment officer.
Bluefront’s investment in Bio Marine has generated an annual return of 30 percent to its investors, equivalent to three times the invested capital.
Bluefront is an impact investor that focuses primarily on the seafood value chain.
Broadened product portfolio
Bio Marine offers equipment and systems for environmental control in traditional and land-based aquaculture. Initially a specialist in oxygen and lighting solutions for fish farming operation, the company has during Bluefront’s ownership expanded its product portfolio to also include environmental logging and monitoring solutions, lice skirts and sea-lice prevention and control systems. From primarily supplying salmon farmers, Bio Marine’s product portfolio today supports more than ten species of fish.
Bio Marine is headquartered in Surnadal, Norway. In addition, the company has a manufacturing facility in Lithuania and a sales office in Son, Norway. Since Bluefront became the majority owner, the company’s workforce has grown from 10 to 40 employees. In 2025, Bio Marine delivered revenue of NOK 94.9 million and a result before tax of NOK 24.9 million.
“We welcomed Bluefront in as we wanted a co-owner who could be a discussion partner, business developer, and financer of both acquisitions and product development. Bluefront has delivered on all these parameters, which has cultivated Bio Marine to becoming a robust company with customers in ten countries worldwide. We are very grateful for Bluefront’s support,” says Jon Gausen, chairman of Bio Marine.
Sold to Ambienta
Bluefront’s first fund, Bluefront Capital I AS, has entered into an agreement to divest its 64 percent ownership share in Bio Marine to European asset management company Ambienta.
Ambienta is a European investment manager, founded in 2007, pioneering sustainable investing in environmental champions across private equity, public markets, and private credit. With offices in Milan, London, Paris, Munich and Stockholm, Ambienta manages over €4.5 billion in assets and is backed by a global and growing investor base. The firm invests in companies driven by environmental megatrends and whose products or services improve resource efficiency or pollution control.
Bluefront invests in companies that develop innovative products, services, software and technologies that improve sustainability throughout the seafood value chain, with a particular focus on ocean health, fish welfare and resource efficiency.
“Ambienta shares our view that sustainability is the foundation of long-term economic success. They acquire an excellent company that combines deep expertise in biology and technology, which makes Bio Marine uniquely positioned to drive the transformation of the seafood industry,” says Sondre Storli, chief operating officer at Bluefront.
Ambienta and Bluefront have agreed to not disclose the financial details of the transaction.
ABG Sundal Collier and BAHR have acted as financial and legal adviser, respectively, to Bluefront in the transaction.
Image: Simen Landmark, chief investment officer at Bluefront (left), and Sondre Storli, COO at Bluefront (right). Bluefront Equity
