PAI Partners exits Konecta

Unquote understands that ICG bought a 49.9% stake in the company, while Pacheco and the management retained the remaining majority holding. The GP deployed capital from its €4.5bn ICG Europe Fund VII.

The sale ends a four-year holding period for PAI Partners, which acquired a 40% stake in Santander-backed Konecta in a deal that valued the company at €288m. The GP deployed capital from its PAI Europe VI fund, which held its final close on €3.3bn in March 2015. As part of the deal, Santander retained a 40% stake in the company, while Konecta's chairperson and founder Jose Maria Pacheco kept a 20% holding.

According to PAI Partners, the company has seen a 61% revenue growth and a 99% EBITDA increase since its acquisition. In addition, under PAI's ownership, Konecta was able to close two add-ons within the first 12 months (B-Connect and Allus) and consolidated its presence in Latin America.

Company
Founded in 1998, Madrid-headquartered Konecta is a business process outsourcing company, with a presence in 10 countries including Spain, Portugal, the UK, Morocco and various Latin American markets. The company employs a staff of 50,000 people and operates 67 worksites across Europe, North Africa and Latin America. It generated revenues of €830m in 2018.

People
Grupo Konecta, - Jesús Vidal Barrio (CEO);  Jose Maria Pacheco (founder, president).

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• Topics
• Exits
• Southern Europe
• Support services
• PAI Partners
• Spain
• Management buy-back
• Secondary buyout