Blue Harvest Fisheries has acquired seven Massachusetts-based scallop vessels and related shoreside assets from Harbor Blue Seafood and related affiliates. Blue Harvest now owns 15 scallop vessels and operates shoreside facilities in Newport News, VA and New Bedford, MA.

Dechert served as the legal advisor to Blue Harvest while TD Bank, Santander and Islandsbanki provided senior financing for the acquisition.

“The acquisition of HBS and its related infrastructure in New Bedford establishes a northern fleet and complements our existing Newport News-based fleet,” said Jeff Davis, president and CEO of Blue Harvest.

Blue Harvest Fisheries is devoted to the sustainable harvesting, processing and marketing of MSC certified premium Atlantic sea scallops and the sales of distribution of other premium seafood products.

Bregal Partners is a private investment firm that invests alongside management teams to build industry leading companies in the middle market.