National Fisherman

March 29, 2024

Commentary: Private equity giveth, and it taketh away

NF Aggregator

Guest Author:
Blue Harvest Fisheries purchased the Blue Water in 2015 as part of its effort to build a fleet of 15 scallop vessels. Thy were all sold off for $100 million months before the company's Sept. 8 bankruptcy filing. Blue Harvest Fisheries photo.

You have to be careful when you swim with sharks — sometimes private equity sponsors. Sadly, for New Bedford, Blue Harvest did business with the Dutch private equity firm Bregal Partners. There’s a lot to unpack here, but one thing that sticks out is why a Dutch financial firm would have an interest in a New Bedford fishing company? Big fans of cod? Nope. Money. The answer is always money.

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NF Aggregator

The NF Aggregator showcases relevant stories from across the commercial fishing industry. To send us a link for inclusion, get in touch on Linkedin.

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