Xtraice
Country: Spain
Region: Andalucia
Investors: Caixa Capital Risc
Xtraice is a maker of eco-friendly, synthetic ice rinks, which has installed the world’s highest rink in Chicago and made rinks for hockey teams such as the Florida Panthers and the Detroit Redwings. When Caixa Capital Risc invested in the company in 2012, Xtraice had nine employees and a commercial structure based on a global sales team.
Following the investment, the venture capital firm helped boost the company’s international expansion plans, financed new product development and supported marketing efforts to establish the brand. The company deployed a new commercial structure based on regional sales teams, launched the rental business, while investing in product development to enhance technical features.
Adrian Ortiz
CEO - Xtraice
La Caixa helped Xtraice to change its commercial model from a reactive to a proactive approach.
2x
increase in jobs to 18
2x
increase in 2013 sales to €3m
What did the business need?
Support to enhance its commercial strategy
Investment in the product to maintain technological advantage over competitors
Development of new business models, including rentals
Expansion into new international market
Investment to position Xtraice as a high quality brand
How did private equity backing create lasting value?
Identified new business models such as rentals to drive expansion
Created an international sales team, based in Seville, to enter new markets
Established a new incentive structure
Established offices in US and entered Russia, Mexico and Ukraine
Evaluated new opportunities, such as rinks for the home
What outcomes did private equity investment achieve?
Doubled sales in 2013 to €3m (85% international and 50% non-EU)
Doubled employee numbers to 18, creating nine new jobs
Created a top, global brand
Expanded the addressable market with new business models
100 Xtraice rings will be active worldwide in 2014, in four continents
Investors
