Corpfin exits Bravo Enterprises

The Bravo, Arrizabalaba and Moreno families, also sold their minority stakes in the business to Teknia.

Corpfin acquired a 54% stake in Bravo in December 2003 for €7.7m, deploying capital from its Corpfin Capital Fund II in a management buyout that saw the company's founder Alfonso Bravo Ruíz staying on with the business as president and chief executive officer.

The firm is now deploying capital from its Corpfin Capital Fund IV, which held a final close in 2015 and is planning to make a new investment in the coming months, Unquote understands.

Under Corpfin management, Bravo strengthened its market position and expanded abroad, reaching the firm's internationalisation objective. After opening a new plant in Mexico, the company also built a new facility in Romania.

Following the acquisition, Teknia, which generated a turnover of €320m in 2017, expects to reach revenues of €400m in 2018 and €700m within the next five years.

Company
Based in Ampuero and founded in 1980, Bravo specialises in the injection and mechanisation of aluminium components for the automotive sector. The company operates three plants located in Spain, Mexico and Romania, with a workforce of 530 people. It generated revenues of €43m last year.

People
Teknia – Javier Lazpita (CEO).
Corpfin Capital – Gorka García (partner).

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• Topics
• Exits
• Southern Europe
• Consumer
• Trade sale
• Corpfin Capital
• Spain