COFIDES and Alantra finance AXESS Networks Solutions‘ international growth
Date 31 July 2020
Type Alternative Asset Management
Barcelona – Compañía Española de Financiación del Desarrollo, COFIDES, S.A., S.M.E (“COFIDES”) and Alantra’s private debt fund (“Alantra Private Debt”) are announcing today that they have provided an up to €36 million long-term financing to Axess Network Solutions (“AXESS”) to finance the acquisition of Latin American-based Axesat and German-based CETel, refinance its existing debt and support further international growth.
Based in Barcelona, Spain, AXESS provides satellite communications within the niche of mission-critical environments and remote locations. The Company operates three main teleports located in Germany, Mexico, and Colombia, and alternative teleports in Dubai and Peru, providing global coverage to a diverse base of industrial, energy, oil and gas, telecom, infrastructure, mining, marine and government/NGO customers. Current operations cover more than 50 countries in Latin America and Middle East & Africa.
Supported by its sponsor, Aksiom Group Limited, and its co-financing lenders COFIDES and Alantra Private Debt, AXESS seeks to take advantage of consolidation opportunities and expects to keep its growth strategy by carrying out acquisitions, joint ventures and capital expenditure in the next few years, focused on value creation, risk mitigation and geographical expansion.
This is the first project co-funded by COFIDES and Alantra Private Debt, in which COFIDES invests through the FIEX fund, exclusively managed by COFIDES on behalf of the Secretary of State for Trade to promote the internationalization of the Spanish companies.
With this transaction, Alantra Private Debt has closed 22 financing transactions in the Spanish middle market segment since its inception in 2015 with a total invested value of c. €300 million, positioning the fund as the leading provider of alternative financing in Spain.