Frøy Kapital will raise €1 billion for investments ‘in coastal value creation’

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They have been central to the establishment, development and management of several multibillion-dollar businesses. Now, they are launching a new investment company that will contribute to the development of even more profitable activity on the coast.

Frøy Kapital will be fully operational from September this year, and will have a capital base of approximately NOK six billion (€606 million). Founder Helge Gåsø has brought Roger Granheim, Harry Bøe, Klaus Hatlebrekke, Hege Aasen Veiseth and Ingrid Rønning to the business.

Target of €1 billion
“We have an ambition to be able to raise up to NOK ten billion (€1 billion) in investment capital. The motivation is quite simply to help develop even more profitable businesses and jobs along the coast and in the region,” Helge Gåsø said in a press release.

Gåsø contributes most of the capital himself and is chairman of Frøy Kapital, which has a business address in Trondheim. The company’s financial and expertise-based foundation is expected to be attractive to several types of investors.

Experienced management
The investor partnership says that they have well-documented abilities and results as business developers. In addition to significant financial muscle, the company will also utilize the team’s personal qualities, expertise and network directly in investment and development work.

  • Helge Gåsø will be chairman of the board. He is the founder of Frøy and the largest owner in NTS, as well as a significant investor with ownership in a number of companies.
  • Roger Granheim becomes CEO. He has recently resigned as CEO of the transport company Torghatten Group. He was the Chairman of NTS from 2012-2020 and central to completed acquisitions and mergers.
  • Harry Bøe becomes director of business development. He has been CEO of NTS through the company’s strongest growth period, until he resigned in February 2022. He’s a significant investor with ownership in a number of companies.
  • Klaus Hatlebrekke becomes investment director. He is a former business developer and CEO of Norway Royal Salmon (NRS).
  • Hege Aasen Veiseth will become CFO, and comes from the position of CFO at Polaris Media and at EMGS before that time.

In addition, Ingrid Rønning will be controller. She has had a similar role in Norway Royal Salmon.

Former CEO of Mowi, Alf Helge Aarskog, and Anne Kathrine Slungård have already been appointed as board members.

Fish, shipyards, boats and recycling
The company states that they will focus on coastal investments. CEO Roger Granheim can already reveal the company’s first investments.

“We are taking over a 37 percent ownership stake in Grøntvedt Pelagic in Fosen, a tradition-rich and strong Trønder brand with a main focus on herring products. We also become a major owner in the industrial group MOEN group with approximately 40 per cent through an ownership of 49.9 per cent in Skipsinvest. The MOEN group’s main activities lie within shipyards, the rental of ships and the recycling of plastic waste,” Granheim said.

“We enter these companies to further develop them and further strengthen profitability,” Gåsø said, adding that work is already underway on several projects with exciting and interesting opportunities for increased value creation and employment.

“We assume that 50-70 percent of Frøy Kapital’s investments will take place in coastal activities. But we will also look at other types of projects in central Norway, property and capital investments,” he said.