Post #53: Acquiring a Business in the Blue Economy – Part 1: How to Find the Right Opportunity
- henry belfiori
- Feb 28
- 9 min read
Lately, I’ve been exploring the world of acquiring second-hand businesses—companies that are already up and running but are primed for scale. Whether it’s due to founder fatigue, baby boomers retiring, or shifting market conditions, there’s a growing number of businesses hitting the market with real potential for growth under new ownership. This is an exploratory post for me so I would love to hear your opinions!
However, stepping into the blue economy—a space filled with marine tech, ocean conservation, and sustainable fisheries—brings an added layer of complexity. Many of these businesses operate in highly regulated industries, rely on government-backed incentives, or require specialist knowledge to scale effectively. However, where there are challenges, there’s also opportunity—and for those who are passionate about ocean innovation, the right business acquisition could be a game-changer.
Why buy instead of build? Many assume that launching a startup or going the corp./ngo route is the only way into the blue economy, but acquiring an existing business can be faster, lower risk, and more scalable. Financing options and creative funding structures make this somewhat plausible for the right person. Instead of spending years developing market traction, regulatory approvals, and supply chains, buying an established business means you’re starting with revenue, customers, and operational infrastructure already in place.
This is the first of a three-part series where I’ll be diving into the process of buying a business in the blue economy. In this post, I’ll break down how to find the right opportunity, where to look, and what to consider before making a move.
Part 1: Finding the right business opportunity (this post).
Part 2: How to conduct due diligence, assess valuation, and avoid pitfalls.
Part 3: The acquisition process—negotiation, funding options, and successfully integrating a purchased business.
Thanks for reading, and as always, I’d love to hear your thoughts—feel free to reach out:) 🌊
Understanding the Blue Economy Business Landscape
Before jumping into the acquisition process, it’s essential to understand the landscape of the blue economy and where the best opportunities might be hiding. The marine industry is vast, covering everything from ocean technology and conservation startups to sustainable fisheries, offshore infrastructure, and waste-to-product businesses.
Unlike traditional industries, many blue economy businesses operate in highly regulated environments and may have complex supply chains, government incentives, or public-private partnerships in place. These factors can make acquiring a business more intricate but also present unique advantages—such as grant funding, sustainability incentives, and access to government-backed contracts.
Feasible Sectors Within the Blue Economy for Individual Buyers
The blue economy is broad, but businesses for sale generally fall into a few main categories:
1. Ocean Technology & Data Startups
Businesses focused on marine AI, IoT sensors, robotics, or underwater drones.
Common in sectors like fisheries management, ocean monitoring, and offshore wind infrastructure.
Often backed by government grants or accelerator funding, which may still be available to new owners.
💡 Example Acquisition Opportunity: A small AI-powered fisheries management software company struggling to scale but with established contracts in place.
2. Sustainable Fisheries & Aquaculture
Includes businesses in smart fisheries, regenerative ocean farming, and seafood processing tech.
Rising demand for traceable, sustainable seafood has made this sector increasingly profitable.
Potential regulatory hurdles but also opportunities for investment and government-backed sustainability initiatives.
💡 Example Acquisition Opportunity: A profitable shellfish aquaculture farm using sustainable methods but needing capital for expansion.
3. Marine Conservation & Waste-to-Product Startups
Businesses tackling plastic pollution, ocean clean-up tech, and circular economy models.
Innovations like recycled ocean plastic materials, biodegradable packaging, or carbon capture through seaweed farming.
Funding often comes from impact investors, sustainability grants, and partnerships with larger corporations.
💡 Example Acquisition Opportunity: A company recycling discarded fishing nets into consumer products but struggling with production scalability.
What This Means for Buyers
The blue economy is a growing but fragmented space. Unlike more developed industries, there aren’t as many marketplaces dedicated to buying and selling ocean-focused businesses, meaning that opportunities often come through industry networks, private sales, or direct outreach.
When considering which part of the blue economy to focus on, ask yourself:
✅ Do I want a tech-heavy business or a low-tech, operations-driven model?
✅ Am I looking for a high-growth opportunity or a stable, profitable company?
✅ What level of regulatory complexity am I comfortable dealing with?
✅ Do I have industry connections to navigate partnerships and funding?
A well-established business in a niche sector can provide a huge head start over launching from scratch—but knowing where to look is important.
Defining Your Investment or Business Goals
Before diving into an acquisition, it’s essential to define what you’re looking for—not just in terms of budget, but also in the kind of business that aligns with your long-term goals. Buying into the blue economy isn’t just about profitability—it’s often about balancing impact, sustainability, and scalability.
Here are some key considerations to help you narrow down your search:
Are You Looking for Profit, Impact, or Both?
Some businesses in marine conservation, plastic recycling, or sustainable fisheries may have strong social and environmental benefits but require patience in profitability and scaling.
Others—like marine tech startups, AI-driven fisheries management, or aquaculture innovations—have high commercial value but demand capital investment for growth.
Understanding your risk tolerance and return expectations will help you decide what kind of business fits your vision.
High-Growth Potential vs. Long-Term Sustainability
High-growth businesses (e.g., scalable marine data platforms, smart fisheries tech) often require rapid investment, access to venture capital, and a growth-focused mindset.
Long-term sustainable businesses (e.g., an established eco-tourism business or a small aquaculture farm) may have steady revenue streams but less aggressive scalability.
Are you looking to flip the business for resale in a few years or build a long-term asset that provides stable returns?
Tech-Heavy vs. Low-Tech, Service-Driven Models
Tech-driven businesses (e.g., AI-powered ocean monitoring, marine robotics, sustainable aquaculture automation) often require specialist knowledge and R&D funding, but can scale faster.
Service-based businesses (e.g., eco-tourism, coastal consultancy, sustainable seafood supply chains) tend to be easier to manage but may require strong industry relationships to grow.
Consider your own expertise—do you have a background in tech, operations, or business development that aligns with the business type?
Active vs. Passive Ownership
Do you want to run the business hands-on, or would you prefer to invest while letting existing management operate it?
Some business owners may want to exit completely, while others are happy to stay on as part of a structured transition.
Passive ownership models work well in franchises, licensing deals, or joint ventures, where you provide capital and strategic oversight but don’t handle daily operations.
Size & Maturity of the Business
The type of business you target will largely depend on your available capital and risk appetite:
💡 Small Startups (Under £1M Revenue)
✔️ Easier to buy, lower upfront investment.
✔️ Opportunity to refine the business model and scale quickly.
❌ Higher risk—may not be fully profitable yet or still reliant on grants/subsidies.
💡 Mid-Sized Businesses (£1M–£10M Revenue)
✔️ More established customer base, revenue stability, and supply chains.
✔️ Stronger foundation—reduces the risk of failure.
❌ Requires a larger investment or structured financing options to acquire.
There’s no one-size-fits-all approach to acquiring a business in the blue economy—it depends on your goals, risk tolerance, and operational involvement. Whether you’re looking for a high-growth tech company, a stable marine service business, or a sustainable impact-driven venture, taking the time to define your criteria will help filter the right opportunities before making a move.
Where to Find Blue Economy Businesses for Sale
Once you’ve defined what type of business you’re looking for, the next challenge is finding the right acquisition opportunity. The blue economy is still a fragmented market, meaning great deals aren’t always publicly listed—many businesses in marine tech, conservation, and fisheries are sold through private networks, direct outreach, or industry connections.
Unlike sectors like e-commerce or SaaS, where businesses frequently change hands, the marine industry has fewer structured acquisition pathways. But with the right strategy, you can find businesses that are ready for new ownership, primed for growth, or even undervalued due to lack of digitalisation or modernisation.
Here’s where to start your search:
Business Marketplaces & Public Listings
If you’re looking for smaller, owner-operated businesses, business-for-sale marketplaces can be a great starting point:
📌 Top Business Marketplaces
BusinessesForSale.com – Covers UK-wide listings, including marine services, coastal businesses, and sustainable fisheries ventures.
Daltons Business – UK-focused listings, often including eco-tourism, marine supply chain, and aquaculture operations.
Flippa & Acquire.com – Primarily for online or tech-focused businesses, but can include marine data startups and software-driven ocean tech ventures.
💡 Best for: Finding smaller, straightforward businesses where the owner is actively looking to sell.
🚩 Limitations: Many marine businesses don’t actively list themselves for sale—especially niche startups, conservation-focused companies, and sustainable fisheries, which means public marketplaces alone won’t reveal the best opportunities.
Industry Networks & Marine-Specific Investment Platforms
📌 Marine-Specific Platforms & Networks
BlueInvest (EU) – An EU-backed platform connecting investors with ocean startups looking for capital or acquisition opportunities.
Innovate UK & DEFRA Funding Recipients – Many marine conservation businesses rely on grant funding but may be looking for a buyer to commercialise their business further.
Local Marine Associations & Chambers of Commerce – Many coastal businesses sell through their networks rather than public marketplaces.
💡 Best for: Finding growth-stage businesses that are looking for strategic partners or buyers but may not be openly advertising.
🚩 Limitations: Requires active networking—these businesses won’t be listed in an easy-to-browse database.
Direct Outreach: Finding Unlisted Businesses for Sale
Many marine businesses aren’t actively listed for sale, but the owners may be open to offers—especially if they are:
✔️ Nearing retirement (baby boomer business owners looking to exit).
✔️ Struggling to scale due to lack of investment or digitalisation.
✔️ More impact-driven than commercially focused and looking for a buyer with business acumen to take over.
📌 How to find them:
Identify marine businesses that received funding 5–10 years ago – Many may be looking for an exit but aren’t publicly marketing it.
Attend blue economy investment and startup events – A great way to find off-market deals and connect with founders.
Search LinkedIn & Industry Reports – Many companies mention succession planning, partnership opportunities, or funding needs—which could indicate an openness to sell.
💡 Best for: Negotiating better deals with businesses that may not have an obvious succession plan.
🚩 Limitations: Takes longer than browsing marketplaces but can uncover unique opportunities that others overlook.
Evaluating If a Business Is a Good Fit & Final Thoughts
Once you've identified a potential acquisition, the next step is determining whether it's the right fit. A business might seem promising on the surface, but it’s crucial to dig deeper and assess both its strengths and risks before moving forward.
Acquiring a business is more than just taking over an existing operation—it’s about ensuring it aligns with your financial goals, skills, and long-term vision. Whether you're looking for a scalable ocean tech startup, a sustainable fisheries venture, or a marine conservation company, knowing what makes a strong acquisition target will save you time, money, and potential headaches down the line.
Signs of a Strong Acquisition Target
✅ Proven Revenue Model with Recurring Income
Does the business have consistent, predictable cash flow?
Recurring revenue streams (e.g., long-term contracts, SaaS subscriptions, or supply deals) are more stable than one-off sales.
✅ Existing Partnerships, Supply Chains, or Contracts in Place
If a business has strong B2B relationships, existing government or corporate contracts, or a reliable supply chain, this provides built-in stability and growth potential.
A marine business with long-term export agreements, licensing partnerships, or exclusive distribution rights is often more valuable.
✅ Strong Brand Reputation and Customer Base
A well-regarded business in marine conservation, sustainable seafood, or blue economy services will have brand equity that takes years to build.
Check online reviews, industry rankings, and customer testimonials to gauge reputation.
✅ Scalable Technology or Intellectual Property (IP)
Does the business own patents, proprietary software, or unique methodologies?
A startup using AI-powered fisheries monitoring or ocean data analytics has high-growth potential if the tech is proven and scalable.
Key takeaway: The best acquisition targets already have a strong foundation but also room for improvement—allowing you to step in and add value, scale operations, or modernise processes.
Red Flags & Risks to Watch For
❌ Heavy Reliance on Government Grants
Many marine startups survive on research grants or sustainability funding, but if the business isn’t generating revenue independently, it may struggle once grants expire.
Check how much of the revenue comes from commercial sales versus subsidies.
❌ Legal, Regulatory, or Environmental Liabilities
Some marine businesses require permits, environmental compliance, or strict safety regulations—if these are uncertain or changing, the risk is higher.
Example: A marine waste processing company may face tightening environmental laws, which could increase operational costs or require tech upgrades.
❌ Outdated Technology or High Operational Costs
Is the company running on legacy systems, inefficient processes, or outdated tech that requires heavy investment to modernise?
High staffing costs, supply chain inefficiencies, or energy-intensive operations could eat into profitability.
Key takeaway: Every business has risks, but the goal is to identify those that can be managed or
improved rather than fundamental flaws that could lead to failure.
Final Thoughts & What’s Next in Part 2
Finding the right business in the blue economy isn’t just about spotting a company for sale—it’s about ensuring it has the right foundation for growth. A strong acquisition target should have a proven revenue model, valuable partnerships, and a competitive edge—while avoiding businesses that rely too heavily on grants, outdated technology, or uncertain regulatory conditions.
For those looking to buy and scale a marine-focused business, it’s crucial to assess:
✅ Revenue stability – Is the business financially sustainable without external funding?
✅ Scalability – Does it have untapped potential, whether through tech adoption, digitalisation, or market expansion?
✅ Operational strength – Are the supply chains, contracts, and compliance processes already in place?
In Part 2, I’ll break down: Where to find blue economy businesses for sale—from public listings to private networks and direct outreach. How to identify off-market opportunities that aren’t advertised but might be open to offers. Creative ways to approach business owners and uncover acquisition deals others might miss.
If you’ve come across any interesting blue economy businesses for sale, or have insights into navigating acquisitions in this space, I’d love to hear from you.
AMDG
Warm Wishes
H
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