TA acquires Kiwoko from Corfin and Prince Capital

The acquirer has taken an 89.4% stake in the business alongside the company's founders.

Under the vendors' tenure, Kiwoko has expanded by investing in new stores and clinics, in addition to expanding its online operations and acquiring competitors Mr Guau and Zona Mascota. As a result, its headcount has increased from 150 to around 900.

TA said it will pursue the existing acquisitive and organic growth strategy for Kiwoko, with a continued focus on the Iberian peninsula.

The transaction marks TA's second European deal of 2016, having acquired a minority stake in Prague-based freight and passenger transport payments service WAG Payment Solutions in January.

Previous funding
Kiwoko has been under private equity ownership for eight years. In 2008, Prince Capital acquired a majority stake in the company for an undisclosed fee. Corpfin then acquired a majority stake in the business in May 2012, with Prince Capital retaining a minority stake.

Company
Founded in 2007 and based in Madrid, Kiwoko is a pet care retailer operating in Spain and Portugal. The firm, whose corporate name is Masquepet, operates a chain of 90 stores, up from 30 at the time of Corpfin and Prince Capital's first investment.

People
Corpfin Capital – Álvaro Olivares (partner).
TA Associates – Christopher Parkin (managing director), Patrick Sader (director).
Prince Capital Partners – Jesús Torres (CEO).
Kiwoko – Javier Osa, Álvaro Gutiérrez (co-founders).

Advisers
Equity – Latham & Watkins (legal).
Vendor – Alemany Escalona & De Fuentes (legal).

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• Topics
• Exits
• Buyouts
• Southern Europe
• Consumer
• Corpfin Capital
• TA Associates
• Spain