Unlisted fishing company TerraSan – which has a substantial aquaculture operation – has landed a private equity firm. EXEO Capital confirmed an undisclosed investment in TerraSan via its Agri-Vie Fund II. EXEO joins Trustee Board Investments (TBI) – a backer of JSE-listed companies Accentuate and Efficient — as a key shareholder in TerraSan. The investment is EXEO’s second tilt at aquaculture with its Agri-Vie Fund I already an investor in HIK, a Hermanus-based abalone farming venture. While EXEO highlighted the growth potential of abalone farming, TerraSan also owns substantial pelagic fishing interests, as well as mussel and fishmeal ventures. TerraSan also acquired fish canning specialist, the Saldanha Group, in 2017. Kennett Sinclair, a partner at EXEO Capital, said the breeding of fish and other aquatic animals under controlled conditions continued to gain popularity as wild-caught fish numbers decreased. Aquaculture had also achieved rapid growth in SA, given the high-value ex...

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