Tag Archives: private equity firm Bregal Partners
Opinion: In memoriam of Blue Harvest — private equity giveth, and it taketh away
You have to be careful when you swim with sharks — sometimes private equity sponsors. Sadly, for New Bedford, Blue Harvest did business with the Dutch private equity firm Bregal Partners. There’s a lot to unpack here, but one thing that sticks out is why a Dutch financial firm would have an interest in a New Bedford fishing company? Big fans of cod? Nope. Money. The answer is always money. The point here is not to blame the process — it’s to learn to avoid the greedy players involved and reflect on why we all did not see it coming. Or at the very least for being surprised it happened. more, >>click to read<< 16:59
Blue Harvest doubles down on groundfish, after selling off scallop fleet
Blue Harvest Fisheries announced this week that it has purchased a new trawler, expanding its groundfish operations as the company sells off the last of its scallop fleet. The 91-foot trawler, originally called the Francis Dawn, will be renamed the Nobska. It replaces a different Blue Harvest vessel, also named the Nobska, which burned at sea in 2021. The charred and gutted vessel has been tied to the company’s dock on Herman Melville Boulevard in New Bedford ever since — declared a total loss at an estimated $2.4 million. >click to read< 07:18
Catch Shares Enable Wealthy Landlords to Gobble Up Local Fisheries
A recent investigative report has reignited public discussion over catch shares, a controversial approach to fisheries management that privatizes the rights to fish. The investigation exposed how Blue Harvest Fisheries, owned by a billionaire Dutch family, became the largest holder of commercial fishing rights in New England, benefiting from lax antitrust regulations and pilfering profits from the local fishermen who work under them. As a commercial fisherman in Mississippi, I know these dynamics go well beyond New England. Here in the Gulf of Mexico, private equity firms and other large investors have come in and gobbled up the rights to fish, driving up the cost of fishing access and making it prohibitively expensive for fishermen like me to harvest fish in our own backyards. >click to read< 07:55
