Akraneskaupstaður reaches agreement to purchase Skaginn 3X to resume operations in Akranes

Akraneskaupstaður has reached an agreement for the purchase of Skaginn 3X, aiming to resume operations next month. The mayor of Akraneskaupstaður is pleased that the company will continue to operate within the municipality.

Since Skaginn 3X declared bankruptcy in early July, efforts have been focused on selling the assets in their entirety to maintain the company’s presence in the community. A group of investors has secured an agreement to acquire all equipment and assets of Skaginn 3X, and they also plan to lease a significant portion of the company’s property. Their goal is to restart operations and develop the business further in Akranes. The newly formed company, KAPP Skaginn ehf., is the buyer.

KAPP Skaginn ehf. is primarily owned by KAPP ehf., a tech firm specializing in equipment for the fishing industry, aquaculture, and other sectors. The company also has various stakeholders, including the ownership company VGJ, TECTRU S/A, key employees, and other investors.

The transaction is contingent on the approval of the Competition Authority, but there are hopes to restart operations in Akranes on November 1.

Mayor Haraldur Benediktsson expressed satisfaction with the outcome, emphasizing the municipality’s determination to preserve the business entirely in Akranesh and maintain established operations. He acknowledged the cooperative spirit of former employees of Skaginn as well as KAPP in facing market challenges. He also noted the support from the bankruptcy trustee and Íslandsbanki in achieving this milestone, indicating that this outcome was not a given, thus making it particularly gratifying.