Situation
Coastal Villages Region Fund (“CVRF”) had been a partner in the ownership of American Seafoods (“ASC”) since 2000. After ten successful years as a minority investor, CVRF’s objectives had evolved into a desire to directly manage its own seafood assets. A recapitalization of ASC presented the opportunity to achieve that objective.

ZS Role
Zachary Scott was engaged by CVRF to advise on the structure and value of the recapitalization transaction.

Results
A recapitalization of ASC was negotiated in which CVRF exchanged its ownership interest in ASC for certain Pollock and Pacific Cod vessels and their associated fishing rights.