Antarctica Advisors Facilitates Sale of Northern Wind to ACON Investments

Strategic Insights -

Antarctica Advisors LLC, the leading seafood industry-focused M&A advisory firm, played a crucial role in the sale of Northern Wind Inc. to ACON Investments LLC. The acquisition is a significant milestone in the North American seafood industry, as it forms the foundation of Atlantic Sustainable Catch (ASC), a newly minted sustainable seafood processor and distributor. Northern Wind, a leading producer of scallops and premium seafood, serves North America's largest retailers and employs 150 people across three locations in Massachusetts. The transaction marks a new chapter for Northern Wind, as existing owners and the management team will continue to lead the business, holding meaningful shares alongside ACON Investments.

Key Takeaways:

  • Antarctica Advisors acted as the exclusive investment banking advisor to Northern Wind Inc. in its sale to ACON Investments LLC.
  • ACON Investments LLC is a Washington, DC-based private equity fund with over $6.0 billion in raised capital and a global presence.
  • The acquisition is part of ACON's strategy to build a newly minted North American sustainable seafood processor and distributor, Atlantic Sustainable Catch (ASC).
  • Northern Wind has 150 employees across three locations in New Bedford, Massachusetts, and is a leading producer of scallops and premium seafood.
  • Existing owners and the management team will continue to lead the business, holding meaningful shares alongside ACON Investments.
  • Ken Melanson, President and Co-Founder of Northern Wind, credited Antarctica Advisors with playing a key role in the sale process, identifying the right financial partner and negotiating the best possible deal.
  • Ignacio Kleiman, Managing Partner of Antarctica Advisors, described the acquisition as a "game-changer" in the North American seafood industry, highlighting the firm's expertise in the seafood sector.

Statistics:

  • Over $6.0 billion: the amount of capital raised by ACON Investments LLC.
  • 150: number of employees at Northern Wind across three locations in Massachusetts.
  • 3: number of locations in New Bedford, Massachusetts, operated by Northern Wind.
  • 1987: the year Ken Melanson and Mike Fernandes founded Northern Wind Inc.
  • $0.6 billion: not specified in the original text, but considering the context, it's possible that ACON Investments LLC has raised over $6.0 billion in capital.

Sources:

  • Antarctica Advisors LLC, the leading seafood industry-focused M&A advisory firm.
  • ACON Investments LLC, a Washington, DC-based private equity fund.
  • Northern Wind Inc., a leading producer of scallops and premium seafood.
  • FINRA (Financial Industry Regulatory Authority) and SIPC (Securities Investor Protection Corporation), regulatory bodies.