Alantra buys Unión Martín

Unquote reported in March that the GP was close to signing a deal.

Following the acquisition, Unión Martín's management team will retain a minority stake and continue to lead the business.

With the fresh capital, the company will bolster its growth and internationalisation by incorporating new fleets and expanding its product offering.

The GP deployed capital from its Alantra Private Equity Fund III, which was launched in July 2015 and held a final close on its €450m hard-cap in February 2017.

Alantra said it was attracted to the company's high potential for growth and international expansion, and to its solid market position in the sea products sector.

Company
Founded in 1998 and based in Las Palmas de Gran Canaria, Unión Martín specialises in fishing and distributing sea products, especially cephalopods, flatfish and finfish, and is the supplier of Spanish supermarket chain Mercadona. The company has two fish processing plants in Las Palmas and controls a fleet of 20 vessels through several exclusive supply agreements with different local shipowners, including four freezer fishing ships in Morocco owned by its subsidiary Palma Pesca.

Unión Martín sells its products in several countries, including Spain, Italy, Greece, the US, Japan, China and Uruguay. In 2017, the company generated revenues of €80m.

People
Unión Martín – José Lorenzo Noda Martín (executive director).
Alantra Private Equity – Gonzalo de Rivera (CEO).

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• Buyouts
• Southern Europe
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• Alantra Private Equity