CVC backs Vitalia's SBO from Portobello

The GP acquired a majority stake in the business via its sixth buyout-dedicated fund, CVC Fund VI, which held a final close on its €10.5bn hard-cap in June 2013. As part of the deal, existing shareholders Portobello and the management team will retain a minority stake, according to a statement.

According to press reports, Portobello will reap proceeds ranging in the €250-275m bracket, in a deal that would value the business at €300m.

Previous funding
In February 2015, Portobello acquired a 90% stake in the business for an undisclosed consideration from CaixaBank and Kutxabank.

Company
Founded in 1999 and headquartered in Zaragoza, Vitalia provides social and sanitary services, and manages 38 centres for long- and medium-term stays and day-care services. The company employs a staff of 2,500 and generated €100m in turnover in 2016, according to the company's website.

People
Portobello Capital – Juan Luis Ramirez (partner).
Vitalia Home – Jose Maria Cosculluela (CEO).

Advisers
Vendor – AZ Capital (corporate finance).

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• Topics
• Buyouts
• Exits
• Healthcare
• Southern Europe
• Secondary buyout
• Spain
• Portobello Capital
• CVC Capital Partners