GED acquires Vitro Group

The GP acquired a 51% stake in the business, while the founders and the management team will retain the remaining stake.

Following the transaction, the GP aims to support the company's expansion internationally.

The deal is the fifth acquisition for the firm's fifth vehicle, GED V España, which launched in 2015 with a €150m target and hit a €80m first close in December 2015, according to a statement.

Company
The Vitro group comprises Vitro and Master Diagnostica, focusing on manufacturing in-vitro diagnostic equipment, software and reagents for hospital laboratories and research centres. Vitro is headquartered in Seville and was founded in 1989.

The business posted a turnover of €15.5m in 2016 and claims to generate 15% of its sales from exports.

People
GED Capital – Enrique Centelles Satrustegui (managing partner).

Advisers
Equity – Garrigues (legal); PwC (financial due diligence).

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