Springwater Capital backs Saranet buyout
Springwater Capital has acquired an 80% stake in Spain-based internet operator Saranet.
Multimedia communications group Vocento sold 80% of its shareholding in Saranet for €14.3m. The divestment is part of a sale programme of non-core assets. The deal is expected to close in Q1 2014.
The GP has also bought the industrial business unit of Adveo, a digital office products company.
Company
Saranet is an internet provider based in Spain. The company also operates mobile and fixed telephone networks. The firm was founded in 1995 and is based in Madrid, with additional offices in Barcelona and Bizkaia.
People
Martin Gruschka is a founding partner at Springwater and worked on the deal.
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