ATECSA

Funds managed by Nmás1 Private Equity, Dinamia SCR and Nmás1 Private Equity Fund, have acquired 100% of Aseguramiento Técnico de Calidad (Atecsa) for E14m. Atecsa provides vehicle inspection services in and around Valencia. The company was previously owned by a group of private investors from Valencia, who acquired Atecsa when it was privatised in 1997. The deal was directly sourced by Nmás1, although the company had previously been approached by both trade and financial buyers. After working on the Itevelesa deal, Nmás1 was looking to invest in a similar company in this sector. It now plans to develop the range of services in Valencia by offering new vehicle examinations and will use Atecsa as a platform for additional acquisitions. This buy-and-build strategy will not necessarily be limited to the vehicle inspection sector but may also include other certification activities, such as building controls and surveyance.

Debt structure

EBN Banco provided an undisclosed senior debt package to finance the transaction.

Company

Atecsa specialises in the technical inspection of vehicles and manages centres in Gandía, Ontinyent, Alzira, Alcoy, Xativa and Ondara, as well as having two mobile stations. In 2004 the company reported turnover of E8.5m with profits of around E500,000. Founded in 1975, Atecsa carried out 275,000 inspections last year, making it the leading vehicle inspection company in the area.

People

Fernando Ortiz and Alejandro Baigorri managed the transaction for Nmás1.

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