DENMARK, Copenhagen. Axcel is to invest in SFK Leblanc, Attec, Itec and Carometec, merging the four companies into an effective leading global player in the rapidly growing market for high-tech slaughter equipment. The merged company will have total revenue of around DKK1.1 bn. and 740 employees.
SFK Leblanc, the largest of the four companies, was founded in 1931 as SFK, a subsidiary of Danish Crown with the purpose of supplying meat processing equipment. SFK was sold to Maj Invest in 2006 and has since been transformed from essentially an internal supplier of Danish Crown into a global player in high-tech slaughter equipment. This was made possible by sizeable investments in product development and the acquisition of North American market leader G.E. Leblanc and Dutch market-leading cattle specialist Nawi.
The other three companies ‒ Attec, Itec and Carometec ‒ are all privately owned and have also, through focus on product development and global customers, carved out interesting positions in the market for high-tech slaughter equipment, with some of the products and solutions being completely unique.
Attec was established in 1987 in Denmark and is now a leading global manufacturer of automated cutting, deboning and storage systems as well as packing machinery for pig, cattle and lamb slaughterhouses. Attec, which has around 150 employees, specialises in individual customised solutions within internal transport and automation for slaughterhouses, meat-processing companies and other food companies.
Itec, which has around 85 employees, is a German company established in 1990 that develops, produces and markets machinery for the food industry, including hygiene systems. Itec and Attec collaborate closely, with Itec acting as Attec's distributor in Germany.
Carometec, which has roots in SFK, is a high-tech company that develops, manufactures and markets measuring equipment based on advanced ultrasound scanning, NIR spectroscopy and vision technology for slaughterhouses around the world, and today has more than 1,000 installations in more than 30 countries. The equipment helps meat processors to accurately and automatically qualify the value of the product early in the production process. Carometec has around 35 employees.
The company acquisitions were negotiated separately and are not interdependent. The transaction is expected to be completed in August 2016.