
SPAIN - Diana Capital pockets 36% IRR with Grupo Recyde sale
Diana Capital has completed its first exit by selling its automotive component, a 23% interest Grupo Recyde, to sector player Cie Automotive for EUR 19m.
The transaction represents a return of 2x the amount invested in 2004, with an IRR of 36%. The rest of the company’s shareholders exited their stakes alongside Diana. When the private equity firm took a stake in Recyde, the turnover was EUR 53m with an EBITDA of EUR 9.6m; two years later, the company reached an income of EUR 87m with an EBITDA of EUR 16.4m.
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