Nazca Capital, owner of JSV, has sealed a strategic alliance with the Swiss firm Blue Earth Capital to ensure the continuity of its investment in Zunibal. The operation has been structured through a continuation fund, a framework that allows the Spanish manager to retain control of the asset beyond the typical life cycle of its traditional funds.
The operation, which has received exclusive financial advisory from DC Advisory, positions Zunibal as a significant consolidator in the global marine technology market. The continuity of Nazca at the helm of the project ensures stability in management while exploring new acquisition opportunities in key markets. With this recapitalization, the Basque technology company is preparing to scale its business model in an environment where the monitoring of ocean resources has become a priority for large international fleets and regulatory bodies.
With the entry of this new global partner specialized in impact, Nazca guarantees the financial muscle necessary to execute the next phase of expansion of the Biscayan company, focused on the digitalization of fishing and ocean monitoring.
The trajectory of Zunibal under the stewardship of Nazca has transformed the company’s financial profile. In the last five years, the company has managed to double its EBITDA to reach 12.5 million euros. This growth has been supported by an aggressive internationalization strategy that already spans over 45 countries and an inorganic acquisition policy that includes strategic assets in Taiwan and Australia. The recent addition of Echoview to its portfolio strengthens its technological capability in a sector where the accuracy of marine data is already a critical competitive advantage.
The strategic plan designed for this new cycle includes diversification into adjacent segments such as aquaculture and oceanography. Zunibal has strengthened its operational structure by increasing its workforce by 25%, now totaling 120 specialized professionals. The firm seeks to capitalize on its position as a reference partner to deepen sustainable fishing solutions, an area where the profile of Blue Earth Capital will contribute technical expertise in impact metrics and environmental governance.
