MMC First Process AS

MMC First Process AS is a Norwegian company specializing in sustainable fish handling systems, providing advanced solutions for fish processing and welfare in aquaculture. Founded in 1997 and headquartered in Norway, MMC First Process AS focuses on innovative fish handling and processing solutions. The company has undergone strategic shifts, including a significant acquisition in April 2019, when Credo Partners acquired a 75% majority stake from Havyard Group ASA. CEO Petter Fauske leads the company, which has a single noteworthy investment deal to date.

MMC First Process specializes in the handling, processing, and cooling of fish, offering a comprehensive portfolio of sustainable fish handling systems under the AQU Synergy brand. The company’s primary product offerings include advanced water treatment systems such as CleanTreat and SafeTreat, as well as specialized equipment for live fish carriers and aquaculture processing. These systems are designed to ensure fish welfare and maintain high-quality standards from harvesting to consumption, addressing the pressing need for responsible fishery practices amid increasing global demand for protein. The company serves a diverse client base, including fishing companies, aquaculture operations, and seafood processors located across various geographical markets including Europe, North America, and Asia.

The integration of technology and sustainability in their solutions positions MMC First Process as a key partner for businesses committed to fish welfare and sustainable practices. In the most recent year, 2023, MMC First Process generated revenue of USD 91. 41 mn and reported an EBITDA of USD 3. 43 mn.

The company's revenue model primarily involves business-to-business transactions with clients in the seafood industry, including aquaculture firms and fishing operations. Clients engage in direct sales of proprietary systems and equipment, supported by service agreements that ensure ongoing maintenance and tailored support. Looking forward, MMC First Process plans to expand its product line with new offerings designed to enhance fish welfare and processing efficiency, with anticipated releases in the coming year. The company is also targeting expansion into new markets, particularly in Asia and North America, by 2025.

The funding acquired in April 2019 is expected to support these growth initiatives and enhance their operational capabilities.