“Combing CAI Software and Maritech brings key granular information for seafood manufacturers of all sizes to make more informed and timely business decisions.”
Maritech, a cloud-based software provider for the seafood and logistics industries has been acquired by the American technolody provider CAI Software.
This acquisition by CAI Software, owned by private equity firm, STG, significantly enhances its capabilities in seafood processing and distribution software.
Palo Alto, California-based STG is a mid-market private equity firm focused on technology investments.STG currently manages about $10 billion of assets and has invested in more than 50 companies in the technology industry.
The integration of Maritech into CAI Software’s portfolio extends the latter’s reach across the seafood production lifecycle, encompassing catch, purchasing, processing, packing, sales, logistics, and analytics & reporting.
Combining expertise
Maritech, founded in Norway, brings a strong customer base in the seafood industry and is set to expand its presence in North America and Europe through this acquisition, according to a release from the company on Wednesday.
Brian Rigney, CEO of CAI Software, emphasized the strategic importance of combining the expertise of both companies. This merger aims to provide more informed and timely business decisions for seafood manufacturers of all sizes.
“Combing CAI Software and Maritech brings key granular information for seafood manufacturers of all sizes to make more informed and timely business decisions in this ever-changing business environment,” said Rigney.
Maritech CEO Odd Arne Kristengård views this as a step towards global expansion.
“Together with CAI, we will continue to have a laser focus on our Norwegian home market and customers while increasing the international traction that we have built over the last several years,” he said.
A truly global platform
William Chisholm, Managing Partner of STG, sees this as an opportunity to create a leading, global ERP software platform for the seafood industry. The combined efforts of CAI and Maritech are expected to enhance performance and growth strategies, serving more seafood companies worldwide.
Jan Erik Lovik, Partner at Broodstock Capital, which remains an investor in the combined company, expressed pride in the team’s achievements and enthusiasm for the future growth possibilities.
In August 2020, Maritech announced it was acquiring EDI-Systems, a provider of software solutions for third-party cold storage logistics in Norway.
In 2021, Maritech acquired 100 percent of Iceland-based Sea Data Center, which specializes in seafood market insights.
