An agreement has been signed for the acquisition by IS HAF fjárfestingar slhf. of a 40% stake in the Icelandic technology company KAPP. Additionally, the fund intends to provide the company with increased share capital for further growth.
IS Haf fjárfestingar slhf. is a new fund managed by Íslandssjóðar hf. that invests broadly in marine-related activities. The fund has a size of ISK 10 billion, with its largest investors being Icelandic pension funds, Brim hf., and Útgerðarfélag Reykjavíkur hf., which serves as the cornerstone investor in the fund.
KAPP is a technology company specializing in refrigeration services, machine manufacturing, production, sales, and service of various equipment for the fishing industry, aquaculture, and other industries. The company also acts as an agent and service provider for foreign manufacturers of products related to its operations.
“The lead in the development of refrigeration equipment for the fishing industry, the strong foundation built by KAPP's founders, and significant growth opportunities are the basis for IS Haf's investment in KAPP. The knowledge, experience, and specialization within KAPP's human resources are outstanding, and the fund's involvement will support the company's ambitious journey of growth in marine-related technology, both domestically and internationally,” says Kristrún Auður Viðarsdóttir, CEO of IS Haf fjárfestingar slhf.
Arctica Finance's Corporate Finance division advised KAPP in connection with the fund's investment.
