Aerofondo arose from the commitment reached between Prime Minister Pedro Sánchez and Airbus CEO, Guillaume Faury, in July 2020, to create a fund for the development and consolidation of the Spanish aerospace supply chain.
The objective is to create a strategic investment vehicle active in the aerospace and defence industry in Spain, providing temporary funding to companies with an important role in the Spanish value chain —some 60 or 70 medium-sized companies that are part of the aerospace sector supply chain— (Tier 2 and Tier 3).
The investment strategy is based on flexible long-term capital with the possibility of investing in the same company at different stages in order to accompany them in their growth or consolidation within the sector. Target companies are active in the aerospace sector with a significant role in the Spanish value chain.
The fund Manager will adopt a progress-based approach compatible with the objectives of decarbonisation and energy transition.
Aerofondo was set up in June 2021 with a capital of €100 m involving SEPIDES (a subsidiary of SEPI) with €33.3 m, Tikehau Capital with €33.3 m, Airbus with €28.5 m and Indra with €5 m.
Execution and results
Operations completed: by the end of 2022, two operations had been completed for a total of €11.1 m. Companies are currently in the process of reorganisation, standardisation and optimisation (processes, commercial, financial reporting) with the objective of operating as a single company.