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Seafood tech acquisition will spur new growth(1)

Seafood tech acquisition will spur new growth

CAI Software, LLC, a portfolio company of STG, and a leader in integrated software and technology solutions for mission-critical, production-oriented enterprise resource planning (ERP), manufacturing execution systems (MES), eCommerce EDI (electronic data interchange), and warehouse management software (WMS) announced last month that they have acquired Maritech a leading cloud-based ERP provider for the seafood and logistics industries across European and North American markets.

The addition of Maritech to the CAI Software portfolio adds seafood processing and distribution software, enhancing capabilities across the entire seafood production lifecycle from catch, purchasing, processing, packing, sales (including importing and exporting), logistics and analytics & reporting. Founded in Norway, Maritech has an expansive, blue-chip customer bases in the seafood industry. The combination of CAI and Maritech will help expand Maritech’s presence in North America and the rest of Europe. Together, CAI Software and Maritech will build a leading, global seafood ERP platform to serve companies 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 Brian Rigney, CEO of CAI Software. “As we bring the companies together, we will continue to collaborate with our customers to develop solutions purpose-built to serve the unique requirements of this industry. In our next chapter of growth, I look forward to working with the Maritech team and Broodstock, who will continue to be an investor in the combined company.”

“This is a great milestone for us, and a natural next step towards global growth for Maritech,” says Maritech CEO Odd Arne Kristengård. “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.”

William Chisholm, Managing Partner of STG, said, “We see a strong opportunity to combine the experience and capabilities of CAI and Maritech to build a leading, global ERP software for the seafood industry. We look forward to collaborating with our combined team to drive success for our employees, customers, and partners.”

“The combination of CAI and Maritech will enable us to leapfrog to the next level of performance in the seafood industry. I am so proud of what our team has accomplished so far and am excited about taking our growth strategies to the next level to serve more seafood companies around the world,” added Jan Erik Lovik, Partner Broodstock Capital.