Permira opens Madrid office

The pan-European private equity firm Permira has officially opened its Madrid office. The team will be lead by ex-3i man Carlos Mallo, and will focus both on Spanish investments and also on international firms with a presence in the Iberian Peninsula. The office will concentrate on investments of between €100m and €5bn in a wide variety of sectors, including chemicals, consumer goods, communications and technology. According to Damon Buffini, managing partner of Permira: ‘The Spanish private equity market represents an attractive growth opportunity for Permira. Spain has undergone strong growth in the last few years, which we hope will continue in the future. We are sure that Permira will be able to build a strong and different business via the Madrid office, which will work as a fully-integrated part of Permira’s global network. Our commitment to this market is a solid and a long-term one. Carlos Mallo, managing director of the new office: ‘The opening of Permira’s Madrid office reflects our optimism for the Spanish market, where we see great potential. Permira has an ‘industrial’ approach to private equity, thanks to our sector specialisation and the profile of our executives, who come largely from industry and strategic consulting. This allows us to tackle transactions where value creation comes not only from financial structuring but also from the strategic transformation of the businesses which Permira’s funds invest in. We believe that the focus in innovative in the Spanish market which, coupled with Permira’s creative ability, enables the generation of attractive opportunities. The Madrid office becomes Permira’ seventh international office, adding to Frankfurt, London, Milan, New York, Paris and Stockholm. Carlos Mallo was formerly a director of 3i in Barcelona, and will be supported by Francesco de Mojana and José Mugica, who worked for McKinsey and Morgan Stanley respectively.

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• Southern Europe