Trive Capital Partners invests in Bell Fish Company
Dallas, Texas, U.S.A.-based private equity firm Trive Capital has invested in Bell Fish Company, which operates one of the largest recirculating aquaculture systems in Albany, Indiana, U.S.A.
In a press release, Trive said it was introduced to the company following an emergency event that caused Bell Aquaculture, a firm that Bell Fish acquired substantially all the assets to back in late 2016, to temporarily cease operations and seek financial support to restructure its operations while it pursued an insurance claim. Thereafter, one of Trive's affiliates partnered with Bell's CEO, Bob Davis, to provide the financial resources necessary for reorganization under a new entity, Bell Fish Company LLC, the firm explained.
“We are excited to see the company fully functioning after experiencing a significant setback in 2015,” Trive Partner Chris Zugaro said. “Management’s commitment to getting the facility back above its prior capabilities has been steadfast and has reestablished Bell as a market-leading aquaculture company with a one-of-a-kind facility.”
Trive focuses in equity and debt securities and has approximately USD 900 million (EUR 832 million) in capital under management, it said.
“Trive focuses on investing in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement,” it said in its press release. “Trive seeks to maximize total returns to its investors through a hands-on, collaborative partnership with management teams and equity partners.
Bell Fish produces and markets a variety of fish species, all grown without antibiotics, added hormones, pesticides or insecticides, the company said. Following Trive’s investment, the company is now harvesting and delivering high-quality steelhead trout through to several retail and foodservice companies nationwide, it said. The Indiana facility has also been upgraded with enhanced system redundancies and Trive has worked with Bell to install a management team with significant experience in aquaculture, it said.
“Trive’s investment and their continued support has enabled Bell to reestablish itself as a leader and innovator in the U.S. aquaculture industry, and to capitalize on our first-mover advantage to expand our operations rapidly to meet growing customer needs. The company is well-positioned to benefit from supply constraints the market is currently facing by offering a domestic solution for sustainably raised fish.”