Carlyle takes 95% stake in Cupa for €170m

Local press had reported the €70m price tag and that the fresh capital will be used to repay the company's €155m net debt.

Prior to the transaction, the founding family and the management team held an 80% stake in the business, while Galician bank Abanca owned a 20% stake. The deal saw the existing shareholders sell their stake and Carlyle acquire the controlling stake. According to press reports, Cupa's board member Javier Fernández bought the remaining 5% stake in the business.

Following the acquisition, the GP hopes to grow the company internationally.

Company
Established in 1968 and headquartered in Carballeda de Valdeorras, Cupa produces slate- and stone-based products and focuses on furniture and décor materials for households. The company has a presence in Spain, Portugal, France, Belgium, Denmark, the UK, China, the US and Brazil.

According to press reports, the company posted a €240m in revenues and €40m EBITDA in 2015. The business employs a staff of 2,100.

People
The Carlyle Group – David Mazaira (associate director).
Cupa Group – Ulpiano Frenández, Aureliano Fernández (co-founders); Javier Fernández (board member).

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• Buyouts
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• Carlyle Group