KKR opens Madrid office

As reported last year by unquote", the GP had been considering a Madrid office for some time. 

Jesus Olmos, head of KKR's Spanish operations and infrastructure team in EMEA, will lead the Madrid office. Olmos joined the company in 2008 from Endesa, a Spanish utility company, where he was managing director for corporate development. He was formerly CEO of Endesa Europe.

Over the last three years, the GP has invested more than $1.2bn in Spain. Recent operations in the Spanish market include the provision of a €320m seven-year debt facility to building materials firm Uralita to fund its international expansion. The investment was completed through funds managed by KKR Asset Management's special situations division.

The GP launched its Spanish activity in 2010 with the acquisition of 49.9% of onshore helicopter services provider Inaer, in a deal valuing the firm at €700m. Investindustrial held the balance of shares, having mandated JP Morgan to find a new investor for its existing portfolio company. The following year, Inaer acquired Bond Aviation for €300m to provide a platform for growth in the international emergency services market.

In July 2011, KKR bought a 49% stake in the operating assets of Grupo T-Solar, a provider of clean electricity through photovoltaic modules. In November, the GP bought a 12.5% stake in car park and logistics park management company Saba Infraestructuras in a deal led by Jesús Olmos.

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• Topics
• Southern Europe
• GPs
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• KKR