John Binde Appointed CEO of Scanbio Marine Group

TRONDHEIM, Norway, April 29, 2015 /PRNewswire/ -- Scanbio Marine Group AS ("Scanbio" or "the Company"), a leading producer of hydrolyzed fish proteins and fish oils, announced today that John Binde has been appointed Chief Executive Officer.

A Paine & Partners Operating Director since November 2014, and a recent addition to the Scanbio Board of Directors, Mr. Binde is a proven executive with extensive operational expertise in the aquaculture industry. For ten years, he served as Chief Executive Officer of Norway Royal Salmon ASA ("NRS"), a fully integrated fish farming company, involved in the production, harvesting, and exporting of salmon and trout to more than 50 countries. From 2004 until 2014, Mr. Binde led Norway Royal Salmon through a transformative period of growth and development whereby its market capitalization increased from $10 million to $370 million through mergers, acquisitions, and other various strategic transactions. Prior to his role at Norway Royal Salmon, Mr. Binde served as Chief Executive Officer and in other senior executive level roles at companies in Norway and other international territories, including Erling Haug AS, Lade Metall AS, Setsaas AS and Golar-Nor Offshore AS.

David Buckeridge, Chairman of Scanbio Marine Group, said "We are very pleased to appoint John Binde to the role of CEO at Scanbio as the company continues to focus on enhancing its market offerings and broadening its customer base. John has the strong track record and deep operational experience to drive the execution of Scanbio's strategy. I am confident that with John overseeing the operations of the company, Scanbio will continue to enhance the range of value added services it provides to salmon farmers, create demand for its differentiated product offering, and accelerate its international expansion."

"It is an honor to join the team at Scanbio," said John Binde. "Scanbio has a strong market position and a reputation of delivering high-quality and sustainably sourced hydrolyzed fish proteins and fish oils to its diverse international customer base. I look forward to working with David and the Scanbio team to build on the Company's strong momentum and capitalize on opportunities to unlock Scanbio's tremendous potential."

Mr. Binde will begin serving as CEO, effective August 1, 2015.

About Scanbio Marine Group AS

Scanbio was established in 1984 in Bjugn, Norway and is a portfolio company of Paine & Partners, LLC. The company provides a vital service to the aquaculture and wild fishing industry, collecting marine byproducts and helping some of the largest fish farming companies in the world unlock value from these oil and protein sources that could otherwise go to waste. Scanbio, through a series of collection services, assists these producers with compliance in an increasingly regulated environment. Scanbio's manufacturing processes create highly nutritious fish protein concentrates and fish oils that it markets as valuable ingredients for the aquaculture feed, animal feed and bio-fuel markets. The Company's business addresses the growing global market demand for protein ingredients from sustainable and renewable sources.

About Paine & Partners

Paine & Partners is a value-driven private equity firm that focuses on complex investment opportunities in the fast-growing, dynamic global food and agribusiness sectors, which play to the strengths of Paine & Partners' differentiated approach. Paine & Partners' team includes 24 investment, operations and finance professionals focused on investing globally across the food and agribusiness value chain ("farm to fork") and throughout cycles. The firm currently invests through its $893 million Paine & Partners Fund IV, which is solely dedicated to agribusiness investing. For further information, see www.painepartners.com.