Crest Capital acquires Penta Group

The GP deployed capital from its Crest I Fund, which held a first close on €97m and a final close in October 2018 on its €100m target. The vehicle deploys equity tickets of around €10m to acquire primarily majority stakes in Portuguese companies with EBITDA in excess of €2m. Unquote understands that, following this deal, the fund will be 25% deployed.

In addition, Novo Banco and Eurobic provided a senior loan to support the deal, the GP told Unquote.

Following the transaction, the company's founder and CEO,  Frederico Jorge, will retain a minority stake and continue to lead the business.

This is the third investment made by the fund, following the acquisition of Global Fire Equipment in September 2018 and the investment in event structures manufacturer Irmarfer in January 2019.

Company
Headquartered in Salvaterra de Magos, Penta is composed of two companies: Penta-Adhesiv, which specialises in producing adhesive labels and flexible packaging; and Pentapack, which manufactures cardboard packaging. The group employs 80 staff and generated EBITDA of around €2.4m from revenues of €10m in 2018.

People
Crest Capital – Marco Lebre (founding partner, CEO).
Penta Group –  Frederico Jorge (founder, CEO).

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• Topics
• Buyouts
• Southern Europe
• Industrials
• Portugal