ICG acquires Suanfarma

ICG bought a majority stake in the business from Spanish PE firm ProA Capital, which retained a minority holding in the company.

Following the transaction, Suanfarma's founder and CEO, Hector Ara, will stay on with the business and retain a minority stake in the company.

The GP is deploying capital from its ICG Europe Fund VI, which held a final close in June 2015 on €3bn, exceeding its €2.5bn target.

Previous funding
ProA acquired a majority stake in Suanfarma in October 2015 via its ProA Capital Fondo II for around €25m.

Company
Founded in 1993 and based in Alcobendas, near Madrid, Suanfarma specialises in the development, production and marketing of active ingredients for the pharmaceutical, biotechnological, veterinary, nutritional and cosmetic industries. The company has activities in 70 countries worldwide and expects to reach a turnover of €200m in 2018 and €350m by 2023.

People
Suanfarma – Hector Ara (founder, CEO).

Advisers
Equity – Optima Corporate (corporate finance); EY (corporate finance); PwC (corporate finance); Allen & Overy (legal); Candesic (commercial due diligence); ERM (ESG due diligence).
Vendor – Garrigues (legal); Banco Santander (corporate finance).

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• Topics
• Buyouts
• Exits
• Southern Europe
• Healthcare
• ProA Capital
• Intermediate Capital Group
• Spain
• Secondary buyout
• EY (Ernst & Young)
• PwC