Nazca Capital, a private equity fund manager, has completed a continuation fund for Zunibal, a leading provider of technology solutions for the fishing and marine monitoring sectors, with Blue Earth Capital, a specialist global impact investor headquartered in Switzerland, joining as the new vehicle’s key backer. The transaction allows Nazca to maintain its position as lead partner following a holding period of approximately five years, providing continuity to a strategy that has established Zunibal as a relevant international player in marine technology.
During the holding period, Zunibal doubled its EBITDA to €12.5 million, expanded its international presence to more than 45 countries, and executed an inorganic growth strategy through three acquisitions, including two international transactions in Taiwan and Australia. The company also grew its headcount by more than 25% to 120 professionals and strengthened its senior management team.
Looking ahead, Zunibal will focus on reinforcing its leadership in its core business while developing new technological capabilities in electronic monitoring and connectivity solutions, leveraging data, artificial intelligence, and satellite communications. The company also plans to expand into complementary areas including aquaculture and oceanography, and will pursue selective international expansion alongside inorganic growth opportunities globally.
KEY QUOTES:
“The support of Nazca and the addition of a partner such as Blue Earth Capital reinforce our long-term vision and ambition. We want to apply our technological capabilities, data expertise and experience in the marine environment to new challenges within the blue economy. This new chapter will allow us to continue delivering greater value to our clients, unlock new growth opportunities, and consolidate our position as a marine technology company increasingly well-placed to offer more efficient, precise and responsible solutions.”
Ibone Rodriguez de Pablo, CEO, Zunibal
“Zunibal is a clear example of value creation through an organic and inorganic growth strategy at a global level. Through this continuation fund, and alongside a partner such as Blue Earth Capital, we reaffirm our commitment to the company and its management team to continue driving its development in this new chapter.”
Daniel Pascual, Partner, Nazca Capital
“Zunibal sits at the unique intersection of technology and ocean impact. Its smart floating devices, monitoring systems, and AI-driven analytics give fisheries and regulators the tools to move the fishing industry towards more sustainable practices. We are excited to partner with Nazca Capital to support the next phase of Zunibal’s growth.”
Sunit Shah, Principal of Private Equity Partnerships, Blue Earth Capital
