Carlyle buys stake in Jeanologia from MCH

Unquote understands that Carlyle bought a 28% stake from MCH and an additional 5% from other minority shareholders. The deal values the company at approximately €150m, which equates to around 15x its 2018 EBITDA.

Following the deal, the founding Silla family will retain a majority stake in the business, while MCH will keep a 7% stake. Alex Wagenberg, a managing director at Carlyle, will join the company's board to help Jeanologia boost its growth and further expand its product offering.

Unquote understands that Carlyle deployed capital from its €3.75bn Carlyle Europe Partners IV fund, while a debt package of an undisclosed amount was provided to support the deal.

MCH bought a minority stake in Jeanologia from the founding Silla family in December 2015 in a deal that was reportedly valued at around €20m. The GP deployed capital from its MCH Iberian Capital Fund IV, which held a €350m final close in 2017.

Company
Established in 1994 and headquartered in Valencia, Jeanologia specialises in manufacturing machinery for the textiles, clothing and leather industries. The company develops eco-friendly technologies for the production of denim, and for fabric and garment finishing.

Unquote understands that Jeanologia generated EBITDA of around €10m from revenues of approximately €60m in 2018, of which 90% came from outside Spain. The company employs 220 staff and sells its products in 61 countries worldwide.

People
Carlyle Group – Alex Wagenberg (managing director).
Jeanologia – Enrique Silla (CEO). 

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• Topics
• Buyouts
• Southern Europe
• Industrials
• Carlyle Group
• MCH Private Equity
• Spain