Inlandsinnovation invests SEK 20m in Umlax

The fresh financing will bankroll improvements in the efficiency and capacity of Umlax's production, as well as increased fish rearing and sales.

Inlandsinnovation CEO Peter Gullander said his firm sees Umlax as a well-managed and profitable company, with opportunities for expanding the business in both the short and long term.

Backed by the Swedish government, Inlandsinnovation makes small investments in small and medium-sized businesses based in the north of the country.

Company
Based in Sweden's Lapland province in the north-east of the country, Umlax farms arctic char and rainbow trout.

The company manages the entire process, from cultivating the roe into fish, growing them, to farming and processing them into finished fillets.

Founded in 1987, Lycksele-headquartered Umlax employs 40 staff across five production plants and a processing plant. It produces up to 3,000 tonnes of fish a year. The company had revenues of around SEK 75m in 2013.

People
Peter Gullander is the CEO of Inlandsinnovation and Josef Nygren is the CEO of Umlax.

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• Topics
• Expansion
• Nordics
• Consumer
• Sweden