The South Eastern Europe Fund L.P. (“SEEF”) a fund advised by Global Finance, has announced it has agreed to sell its 90% stake in Andromeda Group (“Andromeda”), a leading aquaculture company in Greece and Spain to AMERRA Capital Management, LLC (“AMERRA”).
Andromeda is vertically integrated with operations in fry, fish farming and value added processing. Andromeda is the only sea bass and sea bream company with production in both the Western and Eastern Mediterranean region, reaching over 120 million customers within 48 hours. Andomeda’s products are sold across Europe and exported to the USA and the Middle East region.
Global Finance Group has provided management support, industry expertise and assistance in shaping the strategic decisions of Andromeda over the past ten years.
Mihalis Madianos, Partner at Global Finance said, “Andromeda is a clear example of the added value we can bring in transforming a successful Greek family business of €30 million to a leading player in Mediterranean aquaculture of €100 million with balanced operations in Greece and Spain by acquiring and integrating businesses and successfully navigated the challenging financial environment in the region.”
Thor Talseth, Partner at AMERRA added, “Our investment in Andromeda was driven by the quality of the company and the skills and integrity of the management team. We look forward to support the company in securing future profitable organic and strategic growth.”
Dimitris Valachis, CEO of Andromeda commented, “With the support of Global Finance we managed not only to stay independent but also to grow into a leading Mediterranean aquaculture company. We are excited to partner with AMERRA given their deep knowledge of the aquaculture industry as Andromeda with Amerra’s help will pursue a new phase of growth.”
About AMERRA Capital Management, LLC
AMERRA Capital Management, LLC is a New York based agribusiness asset manager with over $1.5 billion in AUM. AMERRA deploys capital supporting growth-oriented agribusinesses around the world which are often family controlled. AMERRA seeks to add value as a supportive and active partner with a full spectrum of customized equity and debt capital products. Since its inception in 2009, AMERRA has completed over 220 investments with an aggregate value of over $3.0 billion.
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