Axcel-backed Frontmatec buys stake in Aira

Aira's founder, Xavi Jané López, will retain a majority stake in the company and keep his role of managing director following the deal.

Danish private equity house Axcel acquired slaughterhouse machinery manufacturers SFK Leblanc, Attec, Itec and Carometec in July 2016, and merged the companies in a new entity named Frontmatec.

To finance this deal, Axcel deployed capital from its DKK 3.6bn fourth fund, while Nordea and Nykredit supplied senior financing, and Capital Four and pension fund Danica provided junior debt. Local media estimated the enterprise value of the deal to be around DKK 1.4bn.

Frontmatec is a specialist in automation for the food and utilities industries. It employs around 1,200 staff in 10 countries and generates an annual turnover of €200m.

Company
Founded in 2001 and based in Cardona, near Barcelona, Aira develops robotic machinery and applications for the meat industry. The company employs 23 staff.

People
Frontmatec – Henrik Andersen (CEO).
Aira – Xavi Jané López (founder, managing director).

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