Stonegate Capital said Tuesday it is investing $7 million (€6.1 million) in Oregon-based Fishpeople Seafood, Inc, a value-added, branded seafood company.

The six-year-old company will utilize the senior debt facility to support continued product expansion and ongoing operations.

“Fishpeople is dedicated to product innovation and to making traceability a significant differentiator,” said Andrea Hedrick, head of Originations at Stonegate.

In June 2017, Fishpeople closed a $12 million (€10.5