GPF-backed Grupo Malasa bolts on Grupo Noa

Unquote understands that the acquisition was financed with fresh capital deployed by the GP and with a debt package provided by BBVA.

According to a statement, Grupo Malasa expects to consolidate its position in Spain and Latin America, expand its production and distribution capabilities, and reach combined revenues of approximately €130m in 2018.

GPF bought a stake in Spanish furniture manufacturer Grupo Malasa in February 2018, while co-founders Antonio Perez Patino and Javier Perez Patino retained a holding in the company, and continued to lead the business. CaixaBank and Bankinter provided debt to support the acquisition. The GP drew capital from its GPF Capital II fund, which held a final close on €150m in October 2017.

Company
Established in 1990 and based in A Coruña, Noa designs and produces furniture for restaurants, hotels and shops. The company has a presence in Spain, Portugal, Brazil, Mexico and Russia, and generated revenues of around €50m in 2017.

People
GPF Capital – Martín Rodríguez-Fraile (founder, managing partner).
Grupo Malasa – Antonio Perez Patino, Javier Perez Patino (co-founders).

Advisers
Acquirer – Cuatrecasas (legal); KPMG (corporate finance).
Vendor – Life Abogados (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• Southern Europe
• Consumer
• GPF Capital
• Spain
• Acquisition finance
• KPMG
• Build-up