MAR Advisors is an independent, specialized, corporate finance boutique, based in Iceland.
We offer tailor-made advisory services to corporate clients globally, with special attention to the seafood, energy and infrastructure sectors.
Built on industry knowledge, extensive transaction track-record, global network and the management experience of our team.
Our mission is to create long-term value for our customers.
Infrastructure & Energy
- There is an increasing need for infrastructure investments in Iceland due to new technology, growth in tourism and population
- Our team has over 25 years experience in the energy sector, both through financing, management and as advisors
- We assist international and private investors in identifying and exploring investments related to such infrastructure projects
- The seafood industry is still very fragmented and consolidation in international seafood will continue to increase efficiency and build synergies
- We operate in the global seafood space with focus on long-term relationships where partners can add value
- The Mar team feels at home in both the local seafood village and complex cross-border transactions
MAR advises its corporate and institutional clients on a range of advisory services.
Our commitment is to offer superior service in the field of Corporate, M&A and Debt Advisory.
- Post-acquisition advisory
- Strategic advisory
- Stakeholder management for foreign investors in Iceland
- Fairness opinion
- Feasibility studies
- Corporate development projects
- Sell-Side Advisory
- Buy-Side Advisory
- Joint Ventures & strategic alliances
- Management Buy-outs
- Refinancing and restructuring
- Acquisition finance
- Projections and fairness opinions
- Design of financial model and assessment of current credit situation
- Intermediation with financial institutions
- Access to international financing sources
Magnús Bjarnason - Managing Partner
+354 895 4515
Magnús was the MD of corporate finance at Kvika bank prior to founding MAR Advisors in 2017. He was the CEO of Icelandic group, a €600 million seafood company with operations in 10 countires. Magnús was a MD at Landsvirkjun (Iceland’s largest energy company) and at Glitnir bank & Glacier Partners New York, where he led development and managed M&A advisory units and a US$ 1.5 billion portfolio in sustainable energy and seafood across three continents. From 1997-2005, Magnús worked in the Icelandic diplomatic service,where he served as Consul General in New York and Deputy Chief of Mission, Minister Counsellor in Beijing. Magnús has served on the boards of many organizations such as Iceland Seafood International (ISI), HS Orka, Farice, Seachill UK, Gadus Belgium, American Scandinavion Foundation and Sena.
Magnús holds an MBA from Thunderbird School of Global Management, Arizona, and a B.Sc. in Banking & Finance from NSU, Florida. He is fluent in Icelandic and English.
Jón Garðar Guðmundsson - Partner
Jón Garðar was the Managing Partner of the consulting service Nordic Mar prior to merging his operations into MAR Advisors in 2020. He has over 25 years’ experience in the finance, management consulting and seafood industries in Europe, the Americas and Asia. Previous roles include deputy CEO of Icelandic Group and Senior Advisor with Glacier Securities, a New York-based financial advisory firm. Jón Garðar was also Partner at Capacent Glacier and from 2003-2008 a member of Glitnir Banks’ seafood team and the MD for the International region. Jón Garðar started his career in financial management, working for 8 years as CFO, first at VSO Consulting and then at Icelandic Iberica S.A. in Barcelona. Jón Garðar has served on the board of several companies, such as Bakkavör China on behalf of Glitnir Bank, and on the boards of Icelandic Iberica (Spain) and Icelandic Gadus (Belgium) on behalf of Icelandic Group.
Jón Garðar holds an MBA from IESE Business School, Barcelona, and a Cand. oecon. degree in Business Administration from the University of Iceland. He is fluent in Icelandic, English and Spanish.
Rósant Torfason - Partner
+354 692 7227
Rósant was a project manager in corporate finance at Kvika bank prior to founding MAR Advisors in 2017. Previously he was a project manager at Landsvirkjun, Iceland’s largest energy company, and held various positions with Íslandsbanki and its predecessors for 15 years where he was involved in numerous transactions in the seafood and energy sectors in Europe, America and China. Rósant has extensive experience in investment banking, private equity, financial structuring and advisory and has served on the board of several companies.
Rósant holds a B.Sc. degree in Business Administration from the University of Iceland and is fluent in Icelandic and English.
Guðjón Steinar Sverrison - Associate
Guðjón was a financial consultant and interim CFO for 10 years before joining MAR in 2020. His principal areas of practice are financial management and accounting and he has in-depth knowledge of financial systems (ERP), credit management, M&A and integration. Previous roles include senior manager with Glitnir Capital in New York and Group Controller for STRAX in Miami.
Guðjón holds an MBA from Thunderbird School of Global Management, Arizona, and a Cand. oecon. degree in Business Administration from the University of Iceland. He is fluent in Icelandic, English and Spanish.
Erla Karen Magnúsdóttir - Associate
Erla has an extensive background in social enterprise and projects related to China. Previous roles include researcher at Kings College London, founder of the China branch of BasicNeeds (basicneeds.org), an international organization which works on mental health issues and founder of a Beijing-based gymnastics school. Erla was a consultant to Cheung Kong Graduate School of Business prior to joining MAR in 2019. Her work for CKGSB involved managing a study tour to London for Chinese executive MBA’s in collaboration with CIVA and London Business School. Erla continues to be a special advisor on a joint mental health research project between Kings College London and Peking University, as well as special advisor for the Beijing-based social enterprise Bearapy.
Erla holds an M.Sc. degree in Public Health from the University of London and a B.Sc. degree in Chemistry from the University of Vermont. She is fluent in Icelandic, English and Mandarin Chinese.
Exclusive advisor to Frumtak and a group of investors in the sale process of their 48% share in Trackwell
Exclusive financial advisor to Fiskmarkaður Íslands and Fiskmarkaður Suðurnesja in acquiring 38% stake in Umbudamidlun
Advisor to the Ecock family in the US$ 20m sale of Ocean Path to ISI
Exclusive advisor to Fisk Seafood, Jakob Valgeir, Nesfiskur and Sjavarsyn in the €70m sale of Icelandic Iberica for 44% stake in ISI
Exclusive financial advisor to Frumtak venture fund and New Business Venture Fund in the sale of 37% share in Valka, the leading seafood technology firm
Advisory services for the family owned Icelandic seafood company Nesfiskur
Lead the reorganization of £300m UK seafood group. Merged three companies into one in 2014, which was then sold to Hilton Food Group in 2017 for £82m
Number of transactions
Buy side advisor to Cooke Aquaculture
Exclusive Financial advisor to Solo Seafood in the € 20 m acquisition of Icelandic Iberica
Acquisition of Gadus Belgium as a board member of Icelandic Group and lead development of Gadus as the Chairman of the company
Exclusive financial advisor in the sale of the salmon farming operations of Congelados del Pacifico in Chile to the German owned Ventisqueros
USD 230m new equity raised for COPEINCA, a leading Peruvian pelagic company. Advised and managed the listing of the shares on Oslo Stock Exchange. Co-management of a USD 180m syndicated loan
USD134m private placement and listing of CAMPOSOL, the leading Peruvian agribusiness, on the Oslo Axess Stock Exchange in Norway. Arranged acquisition financing
Acquisition Financing for AQUACHILE’s acquisition of Aguas Claras, along with BCI bank in Chile
Sell side advising related to the sale of ICICLE SEAFOODS and arranged acquisition financing for the Private Equity firm Paine and Partners
Structured an asset-based financing for Europacifico SA, a Spanish seafood sales and marketing company
Financing and structuring of a convertible bond for Ocean Nutrition Canada, an omega-3 supplements company, as well as other transactions related to CFFI and Clearwater
Advisor to American Seafood Group in number of transactions
Exclusive advisor to Arctic Hydro and it‘s shareholders in structuring and funding of small hydro projects
US$ 25 m
Monitor and develop infrastructure investment opportunities and various support
DD on small hydro projects in North America and Eastern Europe
Advisor to Norsk Hydro in the USD 345m offer to acquire an aluminium smelter in Straumsvik, Iceland from Rio Tinto Alcan
Sale of 50% stake to Alaskan based PE Fund PT Capital for Novator
US$ 130 m
Financial Advisor for Husafell Resort and a sustainable Small hydro project
Cost-benefit study for the Icelandic government on a possible interconnector between Iceland and the United Kingdom
Advisory service to a joint UK and Iceland task force appointed by the Prime Ministers of both countries on a possible interconnector
Lead negotiations with the German industry company PCC on a new Silicon Metal plant in a greenfield industrial site in Husavik, Iceland
Fiber Optic Cable
Financial and operating restructuring of the Iceland to Europe fiber optic cable as a board member
Lead the buy side advisory team for Alterra Power in the acquisition of the geothermal company HS Orka
Set up a JV with Sinopec on building a geothermal district heating system in China. Today the largest geothermal district heating company in China