Seafood investor Bluefront Equity (Bluefront) has invested to become the largest shareholder of the fast-growing fish and marine health advisory company Aqua Kompetanse AS.
“Aqua Kompetanse’s vision is ‘healthy fish and clean oceans.’ This aligns perfectly with our strategy of investing in companies that make the supply chain more sustainable, accessible, and responsibly managed,” said Simen Landmark, chief investment officer at Bluefront Equity.
Aqua Kompetanse is one of Norway’s largest independent providers of environmental auditing and fish health services. The company’s fish health division is geared to provide fish farmers with the best possible conditions for achieving optimal fish welfare and health, as well as contributing to strong biosecurity. Within environmental auditing, the company offers services such as environmental surveys, site mapping applications, and assistance with site license applications.
The firm also provides services in water dynamics, including hydrographic surveys, current and wave measurements, wave modeling, and hydrodynamic modeling. In addition, the company’s experts are continuously involved in a range of R&D projects to address the aquaculture industry’s need for new knowledge within fish health and welfare.
Aqua Kompetanse’s head office is located in Flatanger municipality in Trøndelag county, Norway. The company also has offices in Oslo, Arendal, Stavanger, Bergen; Trondheim, Namsos and Rørvik in Trøndelag county; Sandnessjøen, Ballstad in Lofoten, and Tromsø. The company employs around 80 people.
“Proximity and knowledge are key to delivering services supporting sustainable growth in the aquaculture industry, which is why we maintain a physical presence wherever our fish farming clients operate. Bluefront’s investment philosophy aligns well with the values on which Aqua Kompetanse is built, and their industry knowledge, network, and financial resources will help us expand further and deliver increasingly efficient services along the entire coastline,” said Hans Jørgen Sandnes, managing director of Aqua Kompetanse.
Aqua Kompetanse has experienced steadily increasing demand for its services in recent years. Between 2021 and 2024, the company's revenue doubled from NOK 66 million to NOK 113 million. In 2025, the company expects revenue of around NOK 130 million and a positive operating result, following a couple of years with negative results due to substantial growth investments.
Once all transactions are completed, Bluefront will hold a majority stake in Aqua Kompetanse with an ownership share of approximately 55 percent. The previous main shareholder, Havbruksparken Utvikling AS, will own 18 percent, while the remaining shares are primarily held by the company’s founders and key employees.
The investment is made through Bluefront’s second fund, Bluefront Capital II. The parties have agreed not to disclose the financial details of the transaction.
