October 14th, 2021 – Antarctica Advisors LLC, the leading Seafood Industry-focused M&A advisory firm, acted as the exclusive investment banking advisor to Northern Wind Inc. (“Northern Wind”), one of the leading scallop processors in the US, in its sale to ACON Investments LLC (“ACON”), a Washington, DC private equity fund with global presence and over $6.0 billion in raised capital. The acquisition of Northern Wind is an integral part of ACON’s strategy to build a newly minted North American sustainable seafood processor and distributor, Atlantic Sustainable Catch (“ASC”).
Northern Wind is a leading producer of scallops and other premium seafood, serving some of North America’s largest retailers. Ken Melanson and Mike Fernandes founded the company in 1987 and continue to oversee the business’s operations today. Northern Wind has 150 employees across three locations in New Bedford, Massachusetts.
As part of the transaction, existing owners and the management team will continue to provide leadership at ASC and will be meaningful shareholders and partners alongside ACON.
Ken Melanson, President and Co-Founder of Norther Wind, commented: “The combination of Northern Wind with ACON’s newly-acquired seafood assets will enhance our company’s market position and access to resources for the benefit of all of our stakeholders. Antarctica Advisors played a key role in helping us navigate this complex sale process, identifying the right financial partner, dispensing senior level M&A advise, and negotiating the best possible deal for our shareholders, management team and employees.”
Ignacio Kleiman, Managing Partner of Antarctica Advisors, commented: “The acquisition of Northern Wind by ACON, as part of a successful three-company merger to create a new leading US-Canadian player, is a game-changer in the North American Seafood Industry. We are grateful to have had the opportunity to be able to apply our Seafood Sector knowledge and transactional expertise to help open a new chapter for one of the Industry’s crown jewels.”
Antarctica Advisors is the leading US-based, independent investment banking firm providing corporate clients in the global Seafood Industry with specialized M&A advisory as well as equity and debt capital raising services. The firm’s highly specialized Seafood Team is comprised of experienced professionals with significant knowledge across the Seafood Industry, as well as a proven track record of successful transaction execution.
Antarctica Advisors LLC is a licensed broker-dealer, member of FINRA and SIPC.
For further information, contact Ignacio Kleiman (IK@AntarcticaLLC.com) or
Jean-Marc Narine (JMN@AntarcticaLLC.com) or visit www.AntarcticaLLC.com