Permira’s Madrid office will compete with Spain’s best

Permira, which recently opened its new office in Madrid, is fine-tuning its plans to become a major player in the Spanish market. The firm is planning to invest over €350m in the country over the next four years, and intends to acquire majority positions of over €50m in Spanish companies, either alone, or syndicating with institutional investors. The Madrid office is expected to have a particular focus on consumer and service businesses, although it also specialises in investing in chemical, cleaning, industrial and technology businesses via management buyouts and take-privates. The latter, in particular, is one of several interesting avenues for the firm, according to managing partner Carlos Malló: ‘We believe there are companies on the Spanish stockmarket which should not be listed’. Furthermore, Malló feels that the divestment of business units by multinational corporates should be a solid source of dealflow, in an economy which is continually improving: ‘The signs of growth are clear; last year was the first time that five deals were closed with a value of over €100m’. Gianluca Andena, president of Permira in Spain, estimates that the Spanish private equity market will come to represent just over 6% of the €1.3bn that the firm invests each year.

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• Topics
• Southern Europe
• Industrials