Miura, Demeter sell Contenur to US PE firm Acon

The sale ends a five-year holding period for the GPs, but the management have retained a significant stake in the business.

Company sales have grown 32% to €100m and EBITDA has doubled during the ownership period. In terms of expansion, Miura and Demeter helped acquire Brazilian peer Contemar Ambiental in 2013, establishing a presence in the region, and recently set up a new production plant in Poland, as well as opening subsidiaries in Colombia, Singapore and Czech Republic. Acon intends to continue this internationalisation.

US private equity firm Acon takes over with Contenur's management team, led by Íñigo Querejeta, retaining a stake as well his role at the company.

EY advised on the deal with Grant Thornton and Hogan Lovells acting as financial and legal advisers to Acon, and KPMG and Baker & McKenzie to Miura and Demeter. 

Company
Set up in 1984 and based in Getafe, Madrid, Contenur specialises in the design, engineering and marketing of containers and services to the waste collection industry.

People
Contenur – Íñigo Querejeta (CEO).
Demeter Partners – Lionel Cormier (managing partner).
Miura Private Equity – Juan Leach (managing partner). 

Advisers
Vendor – KPMG (financial due diligence); Baker & McKenzie (legal).
Acquirer – EY (financial due diligence); Grant Thornton (legal); Hogan Lovells (legal).

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• Topics
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• Southern Europe
• Industrials
• Spain
• Miura Private Equity
• KPMG
• EY (Ernst & Young)
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