Lighthouse Caledonia, Scotland’s third-largest salmon producer, has secured its future by raising capital through a private placement.
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The company, which hit the rocks last year when it ran into cash flow problems, has raised GBP15m (US$21.4m) through a placement that will see private equity group Northern Link take a controlling stake in the group.
“We looked at a total restructuring financially to find a solution. We sold some assets… but the main remedy was the private placement,” investor relations manager Sue Cox told just-food today (6 March).
Lighthouse previously sold off two fish farms to raise cash.
The placement will be finalised in a matter of weeks, Cox added.
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By GlobalDataThe cash injection is expected to provide a much needed boost to Lighthouse and will secure the future of the company, which employs 215 people, Cox said.
