Bluefront Equity, a Norway-based private equity firm, has announced its acquisition of a “significant stake” in Mosta-based aquaculture consulting company AquaBioTech Group.

Announcing the purchase on social media, AquaBioTech Group CEO Shane A Hunter said: “I am very pleased to announce that Bluefront Equity will acquire a significant stake in our company through a combination of purchase of shares and new capital to accelerate growth.”

The investment is expected to enable the group to continue the rapid development of its international expansion plans which include the opening of a major office in Norway and Singapore.

In a joint submission of their letter of intent, the companies explained that AquaBioTech consists of three main divisions, namely an aquaculture, fisheries and marine environment firm with offices in five countries; and Contract Research Organisation (CRO); and an engineering and development company.

The company was established in 1996 and has more than 100 staff recruited from over twenty-five countries and clients and projects in more than 55 countries.

Discussing this successful history, Mr Hunter added: “The last 25 years have seen us grow from strength to strength, but now we enter a new chapter and the planned investment by Bluefront Equity will enable us to speed up our international expansion plans, including the opening of a major office in Norway and Singapore.”

The CEO has served AquaBioTech since 1998, and as of January also took on the role of Senior Technical Advisor at Bluefront Equity.