M&A Deal Summary

Bettcher Industries Acquires Frontmatec Group

On November 10, 2022, Bettcher Industries acquired machinery company Frontmatec Group from Axcel and ATP Private Equity Partners

Acquisition Highlights
  • This is Bettcher Industries’ 2nd transaction in the Machinery sector.
  • This is Bettcher Industries’ 1st transaction in Denmark.

M&A Deal Summary

Date 2022-11-10
Target Frontmatec Group
Sector Machinery
Buyer(s) Bettcher Industries
Sellers(s) Axcel
ATP Private Equity Partners
Deal Type Add-on Acquisition

Target

Frontmatec Group

Kolding, Denmark
website
Frontmatec Group develops world-leading customized solutions for automation in the food industry, other hygiene-sensitive industries, and the utility industry. Frontmatec Group is especially renowned for high-quality systems for the entire value chain of the meat industry from carcass grading, slaughter lines, cutting and deboning lines, hygiene systems, and control systems to logistics and packaging. Frontmatec Group was founded in 2016 and is based in Kolding, Denmark.

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Buyer(S) 1

Buyer

Bettcher Industries

Birmingham, Ohio, United States

website


Category Company
Founded 1944
Sector Manufacturing
DESCRIPTION

Bettcher Industries is a developer and manufacturer of innovative equipment in the food processing and medical device industries. The Bettcher portfolio includes the following: Bettcher, a designer, and manufacturer of handheld trimmers, tools, and cutting consumables for all protein applications; Cantrell-Gainco, a manufacturer of processing equipment and yield enhancement and yield tracking systems for various protein operations; ICB Greenline, an aftermarket replacement parts and services company focused on poultry processing; and, Exsurco Medical, a leading-edge medical device company that provides innovative products and services to transform surgical grafting, debridement, and recovery outcomes for patients with burn and trauma wounds. Bettcher Industries was founded in 1944 and is based in Birmingham, Ohio.


DEAL STATS #
Overall 2 of 2
Sector (Machinery) 2 of 2
Type (Add-on Acquisition) 1 of 1
Country (Denmark) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-25 Cantrell

Gainesville, Georgia, United States

Cantrell is a manufacturer of equipment and systems for the poultry processing industry. Cantrell sells its products to leading poultry processors in the United States, Canada, and Latin America. Cantrell was founded in 1972 and is based in Gainesville, Georgia.

Buy -

Seller(S) 2

SELLER

Axcel

Copenhagen, Denmark

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1994
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Axcel Management AS is a private equity firm focused on mid-market buyouts in Denmark and Sweden. Axcel primarily seeks companies with a strong Danish or Swedish base and international potential. The Firm looks to invest in companies with revenues of DKK 250 million (€ 35 million) to DKK 4 billion (€ 535 million). Axcel prefers majority positions. Axcel Management A/S was formed in 1994. The Firm is based in Copenhagen with an additional office in Stockholm.


DEAL STATS #
Overall 43 of 43
Sector (Machinery) 3 of 3
Type (Add-on Acquisition) 11 of 11
Country (Denmark) 32 of 32
Year (2022) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-13 Voff

Stockholm, Sweden

Voff is a consolidator in the European premium natural pet food segment, offering raw pet food, treats, chews and supplements through multiple channels, both online and offline. Voff was formed in 2014 and is based in Stockholm, Sweden.

Buy -
SELLER
DESCRIPTION

ATP Private Equity Partners is a Danish institutional investment firm focused on investing in private equity funds across Europe, North America, and select emerging markets. The Firm is supported by ATP, Denmark's largest pension fund. In addition to investing in private equity funds, ATP also looks to for co-investment situations. ATP Private Equity Partners was formed in 2001 and is headquartered in Copenhagen, Denmark.


DEAL STATS #
Overall 29 of 29
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 10 of 10
Country (Denmark) 3 of 3
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-24 Müpro

Wiesbaden, Germany

Müpro manufactures and distributes leading fixing technology mainly for the installation of heating, air conditioning, and ventilation equipment in commercial and residential buildings, industrial plants, and aboard ships. Müpro was founded in 1964 and is based in Wiesbaden, Germany.

Sell -