Motion-backed Altaïr acquires Quimicas Oro

The deal follows the acquisition of Altaïr's Belgian distributor Enteco in February 2017. The French business currently manages three brands – Starwax, Kapo and Sinto – and generates a turnover of €70m, according to public documents.

Following the deal, the group expects to generate €110m in revenues and employs 370 people.

Previous funding
Motion acquired Wasquehal-based Altaïr from Gimv and Azulis Capital in April 2016.

Company
Founded in 1955 and based in Valencia, Quimicas Oro produces and distributes household products, including insecticides, detergents and cleaning products. According to a statement, the business generates 60% of its sales in Spain, while exports towards northern and western Africa make up the remainder.

The company employs 100 people and generated €40m in revenues and a €6m EBITDA in 2016.

People
Motion Equity Partners – Patrick Eisenchteter (managing partner).
Altaïr Group – Jean-Pierre Dano (chair).

Advisers
Acquirer – Noqca Partners (corporate finance); PwC (financial due diligence); Fidal (legal); Gomez-Acebo & Pombo Abogados (legal); Environmental Resources Management (ESG due diligence); Marsh (insurance due diligence).
Seller – Uria Menendez (legal).

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• Topics
• Portfolio management
• Consumer
• Southern Europe
• Spain
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