Sole Source buys Lee Fish USA for undisclosed sum

Sole Source Capital, a private equity firm focused on the industrial sector, has acquired Lee Fish USA.

Based in California, Lee Fish is an importer and distributor of fresh and frozen seafood serving the North American market.

David Fredston, founder and CEO of Sole Source, commented: “This transaction marks the firm’s third platform investment in the foodservice distribution space, following our investments in Individual Foodservice and Worldwide Produce, and we believe our expertise in this market will help drive significant value”.

Richard Adlem, founder of Lee Fish, added: “We are pleased to partner with Sole Source, whose team has a strong reputation of growing founder-owned businesses”. 

Established in 2001, Lee Fish sources more than 220 seafood species from a range of suppliers, including wild fisheries and farms across the globe. The company specialises in branded seafood from countries such as New Zealand, Australia and Japan. 

Myles Bowker, CEO of Lee Fish, said: “With Sole Source, we look forward to expanding our distribution capabilities and customer base as we continue to source the highest-quality, in-demand premium seafood for our customers throughout North America”.

Terms of the transaction were not disclosed.