Bell Aquaculture Launches $15 Million Equity Raise To Scale Technology & Processes For Nation's Largest Yellow Perch Farm
January 08, 2009 (PRLEAP.COM) Business NewsAlbany, IN – Bell Aquaculture, owner and operator of the nation's largest yellow perch (Perca flavescens) farm, has retained SDR Ventures, Inc., a Denver-based investment bank to raise $15 million of equity capital. The announcement is made by Michael Miller, Bell Aquaculture President & COO, who says this equity raise is the first step in scaling the yellow perch farm from a current annual production level of 208,000 pounds of fillets per year to 8.5 million pounds of fillets per year by 2015.
"Rarely do you see a young company with the focus, commitment and vision exhibited by Bell Aquaculture," Chris Bouck, SDR Ventures founder, says. "Through significant capital investment and partnerships with the leading minds in the industry, Bell Aquaculture has perfected the model for a profitable, large-scale indoor water-recirculating aquaculture farm. We look forward to securing the capital, and more importantly, linking Bell Aquaculture with a financial partner, or partners, that share the Company's vision and commitment."
The additional equity capital will augment the nearly $50 million capital investment made to-date, including $25 million of Founder capital and $25 million of sale-leaseback financing for construction and capital improvements. The new capital will accelerate the Company's production of yellow perch: a fish species with a strong regional demand and dwindling wild-caught supply. Bell Aquaculture's clean technology offers a renewable food source that that will combat the recent and significant decline in commercially caught supply of yellow perch.
"Successful completion of our equity raise offers many benefits, including creation of potentially 197 new jobs at full buildout in the area and assurance of a continuously available supply of yellow perch. Our goal is to increase the popularity of this fish nationwide, and surpass the supply of commercially caught yellow perch," Miller explains.
Bell Aquaculture's equity raise announcement comes as the company is nearing completion of its 28,000-square-foot corporate headquarters and processing facilities in Redkey, IN, about five miles from the production facility in Albany. Last month, the Purdue University Department of Agricultural announced that fish would be returning to its Alumni Fish Fry on February 7 after a 10-year absence, and that specifically the fish will be Indiana-raised Bell Perch™ yellow perch from Bell Aquaculture, sponsored by the Indiana Soybean Alliance.
Yellow perch is one of the most popular of all North American pan fish. It has a mild, sweet flavor with firm white flesh and low fat levels, making it a favorite in residential and commercial kitchens alike. In years past, yellow perch was the fish typically served at Friday night fish fries in the Great Lakes region.
About Bell Aquaculture
Bell Aquaculture is a producer and processor of farm-raised fish for restaurants and consumer use. Initial production facilities, dedicated to yellow perch, are located in Albany, IN, and comprise the nation's largest yellow perch farm. Visit http://www.bellaquaculture.com
About SDR Ventures
SDR Ventures, Inc. is a Colorado-based investment bank specializing in mergers and acquisitions, private placements of capital and strategic advisory services for the privately-held marketplace. Visit http://www.sdrventures.com
Jodi Bertram, Realistic Marketing, 913-484-7361, firstname.lastname@example.org
Chris Bouck, SDR Ventures, Inc, 720-221-9220, email@example.com