The Spanish industrial and services group IFFE Futura invests €18 million in its Omega 3 plant
Oleiros, based in Spain IFFE Futura, an industrial and services group, announces that it has signed a financing commitment of €18 million with several investors for the development of the company’s Omega 3 activity. Investors are led by the Barcelona company already.
The financing will be provided in the form of cash, hybrid capital and debt to recapitalize IFFE Futura.
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All about IFFE Futura
IFFE Futura is a group of industrial, financial and educational services which claims a competitive advantage based on the diversity of its activities, the management of its people and its efficiency, as well as significant development potential in all sectors of activity.
The company develops its activity around five businesses. These include:
- Coaching: IFFE Business School is a private business school in northwestern Spain that offers a range of specialized master’s degrees in management, new technologies and health, as well as tailor-made training programs for companies (in-house) and professionals .
- Consultant: Strategic and financial advice for small and medium-sized enterprises; and Adviser registered with the Alternative Stock Exchange of the Spanish Stock Exchange (MAB) through the subsidiary DCM Asesores Dirección y Consultora de Mercados, SL, which is authorized by the MAB.
- Real estate activity: IFFE Desarrollos is in charge of land development, which will enable it to carry out residential, commercial and industrial real estate development operations in the years to come, either alone or in collaboration with third parties.
- Functional food: IFFE Biotech is focused on the research, design, development, production and marketing of omega-3 fatty acids – omega-3s are nutrients you get from food (or supplements) that help build and maintain a healthy body. The Group has an Omega 3 plant (EPA/DHA) with a production capacity of 13,000 tonnes/year, located on land in the Ferrol region with an area of 28,800 m².
- Business incubator and accelerator: Promotion, development and acceleration of commercial initiatives resulting from the IFFE Futura ecosystem in the development of which the company participates.
Use of capital
The investment will help IFFE Futura complete its omega 3 production facilities based in As Somozas (Galicia) and start marketing omega 3 from 2023 to functional food companies for nutritional supplements, pharmaceuticals , cosmetics and animal feed, among others.
The new facilities will have a capacity of more than 10,000 tons per year of Omega 3 of the highest quality and with the best organoleptic behavior.
Overview of transactions
The financial partners were led by Inveready, which invested €9 million through hybrid funds, and a group of investors who are experts in investing in BME Growth and invested €4 million in their own funds.
In addition, IFFE Futura has obtained financing from Banco Sabadell, for an amount of up to €4 million, and from Xunta de Galicia (via XesGalicia), for an amount of up to €1.25 million.
The NATAC Group also entered the capital of IFFE Biotech with a 20% stake, as an industrial partner.
The NATAC Group, a company in the natural ingredients sector, will support IFFE Biotech in the construction of Omega 3 production facilities and will be a partner in the distribution of IFFE Biotech’s final production. The NATAC group will also bring patents related to omega 3 to IFFE Biotech.
In addition, IFFE Biotech will have a new board of directors made up of IFFE Futura, NATAC Group and Inveready.
David Carro, CEO of the Group, said: “The support of Inveready and its co-investors, as financial leaders of the operation; of XESGALICIA, showing the support of the regional government of Galicia; and the Municipality of As Somozas, added to the financial loan obtained from Banco Sabadell, ensure the success of our plan of strategic and sustained growth of the company for several years. In addition, this project enhances the value of primary sector industry, such as fishing, and will lead to the creation of jobs in the region.
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