Investcorp buys Agromillora in SBO

The proprietary deal values the business at around €250m, unquote" understands. With Nazca fully exiting its 49% minority stake and the management also selling parts of its stake, it brings Investcorp's share to around 60%.

The relationship between the two GPs was established two years ago, when Investcorp acquired ceramic tiles company Fritta from Nazca. 

During Nazca's tenure, Agromillora increased its production capacity in California and Chile, and built a new facility in Florida. It also added new sites in Australia and the Middle East. The head count rose from 600 in 2013 to 1300 at the time of the sale, while the turnover grew from €25m in 2012 to €52m in 2015.

Previous funding
Nazca acquired Agromillora via Fondo Nazca III in June 2013.

Company
Founded in 1986 and based in Subirats, Agromillora is a supplier of plant propagation for the agricultural industry. The firm has a presence in Spain, the US, Chile, Tunisia, Turkey, Morocco, Argentina, Brazil, Australia and Jordan. Agromillora employs around 500 people and generates around 60% of its turnover from international sales.

People
Nazca Capital – Carlos Carbó, Álvaro Mariátegui (co-CEOs).

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• Topics
• Buyouts
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• Southern Europe
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• Secondary buyout
• Investcorp