Tikehau-backed Aerofondo set for first acquisition

The deal is expected to close by September, according to a press release.

Ace Aerofondo IV FCR has an initial amount of EUR 100m to deploy and is expected to reach EUR 150m to EUR 200m.

Miguel Cavero, the executive director at Tikehau Ace, told Unquote that the fund is expected to invest in eight to 10 Spanish companies active in the aerospace industry.

The fund has so far received commitments from Tikehau; SEPIDES, an investment arm of the Spanish government; Airbus; and Indra, a Spanish defence systems specialist.

The vehicle can provide equity tickets of around EUR 7m to EUR 20m, or larger through co-investment strategies, Cavero said.

Acquisitions play an important part in the growth strategy of Aerofondo's companies, including Acatec, where bolt-ons will help broaden the geographical and product presence for the high-precision parts manufacturer, Cavero said.

Company
Founded in 1991, Acatec is active in the tier II manufacturing segment of high-precision aircraft parts. It currently has more than 700 different references in production. This includes key parts for aircraft such as the A320, A220 and A350 models.

People
Tikehau Ace – Miguel Cavero (executive director), Carmen Alonso, (head of UK and Iberia)
Acatec – Doroteo González

[Editor's note: The fourth paragraph has been amended to clarify that Ace Aerofondo IV FCR fund has received commitments from SEPIDES.]

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• Buyouts
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• Tikehau Capital
• ACE Management