Paine & Partners to exit Icicle Holdings

Paine & Partners LLC said Friday that it has agreed to sell Icicle Holdings to Convergence Holdings Inc. and to Dominion Catchers LLC. Financial terms weren’t announced. Convergence is buying Icicle’s land-based wild seafood processing and farmed salmon activities, while Dominion will acquire the company’s harvesting and processing vessels as well as the associated fishing rights. Seattle-based Icicle processes seafood including wild salmon, pollock, halibut, cod, sablefish and herring in fisheries throughout Alaska, with both on-shore and floating processing facilities.

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