SAIC HOLDING, OWNED BY DANISH PRIVATE EQUITY COMPANY AXCEL AND A GROUP OF INVESTORS HAS ACQUIRED FRONTMATEC, A LEADING SUPPLIER OF AUTOMATION AND SOFTWARE SOLUTIONS FOR THE GLOBAL FOOD AND UTILITIES INDUSTRIES

SAIC HOLDING, OWNED BY DANISH PRIVATE EQUITY COMPANY AXCEL AND A GROUP OF INVESTORS HAS ACQUIRED FRONTMATEC, A LEADING SUPPLIER OF AUTOMATION AND SOFTWARE SOLUTIONS FOR THE GLOBAL FOOD AND UTILITIES INDUSTRIES

The acquisition of Frontmatec will give SAIC Holding – owner of SFK LEBLANC, Attec, ITEC and Carometec – an annual revenue of DKK 1.3 billion and 840 employees. Most importantly, the combined company will be able to offer more complete solutions and, in time, a range of unique solutions that will create considerable value for customers.

Ib Nykjær, CEO of SAIC Holding, is excited about the transaction: “The acquisition will allow even closer integration between Frontmatec’s software and our equipment, creating the best possible combined solution for customers. We’re delighted to be in a position to make a major acquisition of this kind on the strength of Axcel’s ownership. I’m really looking forward to working with Frontmatec, and it’ll also be interesting to explore the potential in areas where the company already has a strong position, including both the food and utilities industries.”

Kurt Andersen, CEO of Frontmatec, comments: “We’re so happy that Via Venture Partners was able to see the strength of our business model. We’ve been a leading supplier of MES, SCADA and automation solutions for 30 years, but we’re now ready to move to the next level. As part of SAIC Holding, under Axcel’s ownership, we’ll be able to accelerate our international rollout, which is something we’re really looking forward to.”

Arne Vraalsen, chairman of SAIC Holding, adds: “We’re delighted to welcome Frontmatec’s skilled management and workforce into the fold. We look forward to building further on the strong position the company has built up in both the utilities sector and the food industry, and to generating further growth in the overall business by leveraging SAIC Holding’s global sales network to support the accelerated international rollout of Frontmatec’s software and solutions. We’re particularly excited about the prospects for its strong SCADA and MES platforms in the form of System 2000 and GOSystems.”

Christoffer Müller, deputy chairman of SAIC Holding and a director at Axcel, comments: “Our goal is to create a leading global supplier of equipment, solutions, and software for international food companies. We’re well on our way, and the acquisition of Frontmatec is another step in the right direction. We’re very pleased to have them on board at this early stage in our journey with SAIC Holding.” 

Via Venture Partners, the vendor, is also enthusiastic about the transaction, explains partner Thorlund Haahr: “Frontmatec is a very well-run company with a future-proof concept that we’ve been delighted to support through our ownership. It’s clear that Frontmatec is now ready for the next phase in its development, and so we’re very pleased to find a strong partner in the form of Axcel and SAIC Holding.”

The transaction is expected to be completed by the end of 2016 and is contingent only on approval from the competition authorities.

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