Seafood importer nets financial backing

Grimsby-based Northcoast Seafoods, which was founded in 2000, is part of the Kangamiut Seafood Group.

Its prawns are sourced from Canada, Newfoundland, Iceland and Asia. Apart from coldwater prawns, the company, which has seven staff, also provides a range of frozen seafood products including warmwater prawns and white fish.

Fridrik Thorsteinsson, a spokesman for Northcoast Seafoods, said after the completion of the deal: “As we source our coldwater prawns from the North Atlantic it’s essential that we secure supplies of prawns during the limited catch season in order to meet our customers’ annual orders.”

Andy Pickford, corporate development director at RBS Invoice Finance, added: “We are delighted to have secured the ABL mandate for such a high quality company and management team.”