ProA backs IPD

The founders and management team of IPD will retain a minority stake in the company.

ProA drew equity from its ProA Capital Iberian Buyout Fund III, which closed on €475m in February 2019. The fund deploys equity tickets of €10-60m and will invest in 8-14 companies in Spain. This is the fund's first portfolio company.

The company plans to use the investment to pursue an internationalisation strategy, particularly in the US, both through organic and inorganic growth. The company has also recently launched a new line of digital products that ProA plans to grow through product innovation in Spain.

The company had approximately €10m in sales and €5m EBIT.

Company
The company manufactures, markets and distributes titanium parts used by leading national and international implant brands. It sells its products in around 30 countries in Europe and South America, and is based in Mataró, near Barcelona.

People
ProA Capital – Fernando Ortiz (managing partner).
IPD – Juan Carlos Pérez Yanini (general director).

Advisers
Equity – Escala Capital (corporate finance); Garrigues (legal); EY (financial due diligence); PwC (commercial due diligence).
Management – Santander M&A (M&A); KPMG (financial due diligence); Ramón y Cajal Abogados (legal).

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• Topics
• Buyouts
• Southern Europe
• Healthcare
• healthcare
• Spain
• ProA Capital