Spain-based industrial and services group IFFE Futura invests €18M in its Omega 3 plant

Oleiros, Spain-based IFFE Futura, an industrial and services group, announced that it has signed a financing commitment of €18M with several investors for the growth of the company’s Omega 3 business. The investors are led by Barcelona-based Inveready.

The funding will be supplied in the form of cash, hybrid capital, and debt to recapitalise IFFE Futura.

Everything about IFFE Futura

IFFE Futura is an industrial, financial, and educational services group that claims to have a competitive advantage based on its activity diversity, people management, and efficiency, as well as significant development potential across all business sectors.

The company develops its activity around five lines of business. These include:

• Training: IFFE Business School is a private business school in northwest Spain that provides a range of specialised master’s degrees in management, new technologies, and health, as well as customised training programmes for businesses (in-house) and professionals.
• Consulting: Small and medium-sized business strategic and financial consultancy; and Registered Advisor to the Spanish Stock Exchange’s Alternative Stock Market (MAB) through the subsidiary DCM Asesores Dirección y Consultora de Mercados, SL, which is authorised 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 coming years, either on its own 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 (EPA/DHA) factory with a production capacity of 13,000 tons/year, located on a plot in the Ferrol region with an area of 28,800 square metres.
• Business incubator and accelerator: Promotion, development and acceleration of business initiatives arising in the IFFE Futura ecosystem in whose development the company participates.

Capital utilisation

The investment will help IFFE Futura to 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, pharmaceutical products, cosmetics and animal food, 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 better organoleptic behaviour.

Transaction overview

The financing partners have been led by Inveready, which invested €9M through hybrid funds, and a group of investors who are experts in investing in BME Growth and invested €4M in their own funds. 

In addition, IFFE Futura has obtained financing from Banco Sabadell, for an amount of up to €4M, and from Xunta de Galicia (through XesGalicia), for an amount of up to €1.25M.

The NATAC Group has also entered the capital of IFFE Biotech with a 20 per cent stake, as an industrial partner.

NATAC Group, a company in the natural ingredients sector, will support IFFE Biotech in the completion of the Omega 3 production facilities and will be a partner in the distribution of IFFE Biotech’s final production. NATAC Group will also contribute patents related to Omega 3 to IFFE Biotech.

Additionally, IFFE Biotech will have a new board of directors made up of IFFE Futura, NATAC Group and Inveready.

David Carro, CEO of the Group, says, “The support of Inveready and its co-investors, as financial leaders of the operation; of XESGALICIA, showing the support of the Galician regional government; and the municipality of As Somozas, added to the financial loan obtained from Banco Sabadell, ensure the success of our plan strategic and sustained growth of the company for several years. In addition, this project enhances the value of the primary sector industry, such as fishing, and will bring about the generation of employment in the area.”