KKR poaches 3i's Spain head

3i has no plans to replace Vidal-Quadras, though the current Spanish team will remain in place to manage the GP's local portfolio, including funeral services business Serveis Funeraris de Barcelona.

The Spanish office "will be more of an asset management rather than investment office" said a spokesperson for 3i.

Vidal-Quadras took over from Maite Ballester at 3i earlier this year. He joined 3i in 2005 as an associate, following a three-year stint as an analyst at Rothschild. In 2008, he was promoted to investment director, prior to a promotion to director in 2012.

KKR opened a Madrid office in February this year. Headed up by Jesus Olmos, head of KKR's Spanish operations and infrastructure team EMEA, the office has completed several deals in the local market.

The GP launched its Spanish activity with the acquisition of a 49.9% stake in Investindustrial-backed Inaer, a mission-critical onshore helicopter services business, in 2010. Following a buy-and-build strategy, the GPs sold the asset in April, with KKR enjoying a 25% IRR and 2.5x money multiple.

Most recently, KKR bought a significant minority stake in Permira-owned Telepizza, as part of a refinancing deal for the Spanish fast-food company in October.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Southern Europe
• People
• Spain
• KKR
• 3i