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New Heritage Capital buys into marine oils importer Icelandirect eyeing its ability to source hard-to-find ingredients

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Boston-based private equity house New Heritage Capital has bought into marine oils importer Icelandirect eyeing its ability to source hard-to-find ingredients.

The investment was made with the firm’s Private IPO solution which leaves operating control in the hands of the company’s reinvesting co-founders.

Mark Stenberg, co-founder and retiring CEO of Icelandirect, said, “When we began the search for a partner, we were hoping to find someone who could help take our business to the next level, but not at the expense of our culture and commitment to customer success. I am excited to support this next phase of Icelandirect’s growth as a member of the Company’s Board of Directors.”

New Heritage Capital focuses on the business services, healthcare and manufacturing sectors. It typically invests in companies with $4m to $20m EBITDA, according to its website.

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