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Wednesday, April 17, 2024

Evergreen counsels Inveready on Iffe Futura’s €18m investment

Evergreen Legal has advised Inveready on Galicia-based Iffe Futura’s Omega 3 plant in As Somozas investment for a value of €18 million

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The aim of the company, which will incorporate 30 new workers in the coming months, is to complete the facilities in order to start marketing Omega 3 in 2023.

The Galician industrial and services group Iffe Futura, which is listed on BME GROWTH, has signed a financing commitment of €18 million with several investors led by Inveready. The objective of this financing is to complete Omega 3’s production facilities, based in As Somozas (Galicia), and to start marketing Omega 3 B2B from 2023. The new facilities will have a capacity of more than 10,000 tonnes per year of Omega 3 “of the highest quality and best organoleptic performance.”

The financing partners have been led by Inveready, which is investing €9 million through hybrid funds, and a group of expert investors in BME Growth, which is investing 4 €million in equity. Iffe Futura will also receive financing from Banco Sabadell, for an amount of up to €4 million.

Evergreen Legal’s team was led by B&F of counsel Yurena Medina and Corporate | M&A partner Luis Vegas.

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