Artá Capital buys a minority stake in Alvinesa

According to press reports, an unnamed existing investor will retain a 64% stake in the business. The business aims to use the fresh capital to boost its international expansion.

Artá currently manages its maiden vehicle, Deyá Capital, which held a final close on €400m in December 2007. According to the company’s website, the fund is split into three investment vehicles: Deyá Capital with €300m in commitments, Deyá Capital II with €46m, and Deyá Capital III with €54m.

The fund manager targets majority and minority stakes in mid-cap Iberian businesses with an enterprise value ranging between €75-500m.

According to local press reports, the deal marks the second investment for Deyá Capital II, and follows the recent acquisition of Portuguese gas distributor Gascan from Explorer Investments, in a deal reportedly valuing the company at €70m.

Following the divestments of port facilities developer Ocibar and menswear producer PepeJeans in 2015, the GP currently holds seven companies in its portfolio, including marketing services provider In-Store Media, student residences manager EnCampus, mattresses and accessories retailer Flex, bakery products manufacturer Panasa, waste disposal services provider RosRoca and storage facilities producer Mecalux.

Company
Established in 1993, Alvinesa specialises in the treatment of wine derivative products, such as industrial alcohols, tartaric acid, grapeseed oil, and biomass, as well as grape anthocyanins and polyphenols, mainly for the industrial sector.

Headquartered in Daimiel, near Ciudad Real, the business posted a turnover of €50m in 2016 and exports its production to 15 countries, according to local press reports.

People
Alvinesa – Jesús Cantarero (managing director).

Advisers
Equity – Optima Corporate (corporate finance); Latham & Watkins (legal).
Vendor – BBVA (M&A); Lupicinio Abogados (legal).

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• Topics
• Expansion
• Industrials
• Southern Europe
• Spain