Mercapital, Nmás1 and Explorer to exit Holmes Place

In July 2005, a consortium led by Nmás1 and Mercapital, alongside Explorer Investments, acquired Holmes Place Iberia from Bridgepoint Capital and Permira.

The deal, valued at €110m, took the form of an MBO in which investors acquired 89% of the company and the management retained an 11% stake. Banco Espírito Santo provided a debt package of around €70m, which it later syndicated. Holmes Place failed to repay the loan in 2010.

The private equity backers were unable to come to a decision regarding the restructuring of company debt in 2011.

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