Espiga buys 86% stake in Unica

Espiga invested via its Espiga Equity Fund. Existing investors retained the remaining 14% stake in the business, though financial details surrounding the transaction have not been disclosed.

Following the deal, the management team, headed by the company's chair Fernando Sevilla, will continue to lead the business. The company aims to use the capital injection to expand its production plant in Corella, in the Spanish province of Navarre, as well as boost its expansion internationally.

The deal marks the fourth transaction for the GP's 2014-vintage Espiga Equity Fund, which held a final close on €140m in October 2015. The fund previously acquired adhesive roll tape manufacturer Cintas Adhesivas Ubis and sport centres operator Enjoy Wellness in July 2015, as well as the medical equipment producer Deltalab in August 2016, in which it took a majority stake alongside private equity house Talde.

Company
Founded in 1958 and headquartered in Corella, Spain, Unica manufactures rubber compounds for several industry sectors, including automotive, aeronautics and construction.

According to local reports, the business generated €45m in revenues and EBITDA of €4.25m in 2015.

People
Espiga Capital – Carlos Prado, Juan Carvajal (managing partners).
Unión de Industrias – Fernando Sevilla (chair).

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• Topics
• Buyouts
• Industrials
• Southern Europe
• Spain
• Espiga Capital