Former NTS chief Gåsø in surprise comeback

Salmon farming entrepreneur Helge Gåsø, who lost the fight to stop SalMar acquiring his NTS group earlier this year, is set to make a comeback.

He is leading a business consortium, which includes former Mowi chief executive Alf-Helge Aarskog, to set up an investment company called Frøy Kapital.

According to reports from Norway, Gåsø will have between five and six billion krone (around £500m) to investment once he sells his shares in SalMar.

The consortium plans to raise up to NOK 10 bn (£854m) in what it describes as “coastal value creation” but it will also look at other investment projects.

Gåsø successfully built NTS into a highly successful integrated aquaculture group which later included Norway Royal Salmon. But amid various shareholder wrangles and attempted coups, he failed to prevent his old rival Gustav Witzøe from making a successful bid for the most attractive parts of the business a few months ago

He said in a press release: “We have an ambition to be able to raise up to NOK 10 billion in investment capital. The motivation is quite simply to help develop even more profitable companies and jobs along the coast and in the region.”

It is thought that Gåsø will contribute the largest capital share and will become chairman of Frøy Kapital, which will be based in Trondheim.

Former NTS chairman Roger Granheim, who recently resigned as CEO of the transport company Torghatten AS will become managing director.

Harry Bøe becomes director of business development. He was CEO of NTS through the company’s strongest growth period, until he resigned in February this year.

Klaus Hatlebrekke becomes investment director. He was previously business developer and CEO of Norway Royal Salmon (NRS).

Hege Aasen Veiseth will become chief financial officer (CFO). He held a similar position with the digital media company Polaris.

Former NRS controller Ingrid Rønning will take a similar position with the new consortium.

The involvement of former Mowi chief Alf-Helge Aarskog is interesting. Highly experienced, he recently joined the board of the Icelandic seafood group Samherji to help it with its ambitious aquaculture growth plans.

Mowi’s former CEO Alf-Helge Aarskog