The acquistion, from Verdane Capital IV, is expected to close in the third quarter of 2011.
Following the transaction, whose amount remained undisclosed, Carl Eide will assume the position of CEO while Per Arne Eide will remain involved with the company and with a seat on Scanbio’s Board of Directors.
Paine & Partners will work help the company continue to develop and expand its business.
Established in 1984, Scanbio specializes in the production of fish protein concentrate, fish oil and fishmeal from preserved by-products (silage) and fresh raw materials. Scanbio has four production plants in Norway and operations in Scotland.