Artá carves out Nuadi from Nucap Industries

As part of the transaction, Nuadi will also acquire Nucap's Chinese subsidiary based in Shanghai. 

The GP intends to support the management team, led by José Luis Ciordia, in further consolidating the company's position in Europe and accelerating its international expansion, primarily in the Asian market.

In addition, Artá and the management team will implement a new strategic plan for the next five years, investing in the development of new products and projects, and in the acquisition of complementary companies to pursue a buy-and-build strategy.

The GP invested via its Artá Capital II fund, which held a final close in February 2018 on €400m. The vehicle was backed by approximately 50 investors, including Grupo March through Corporación Financiera Alba, which committed around half of the fund's capital. Artá Capital II provides €25-60m equity tickets targeting medium-sized Iberian companies valued at €100-500m.  

This is the eighth investment inked by the fund and follows its purchase of occupational risk prevention specialist Preving and its acquisition of kitchen panels manufacturer Alvic. Across its two funds, Artá has invested around €700m in equity in 16 companies based in Spain and Portugal.

Company
Nucap Europe, now rebranded to Nuadi, was founded in 1958 and is headquartered in Pamplona. The company specialises in manufacturing braking systems, including backing plates and shims, for the European automotive industry. It exports around 80% of its production outside Spain.

People 
Artá Capital – Ramón Carné Casas, Nicolas Jiménez-Ugarte (managing partners).
Nuadi – José Luis Ciordia (CEO).

Advisers
Equity – Deloitte (financial due diligence); Garrigues (legal); Roland Berger (corporate finance).
Company – Alantra (corporate finance); Linklaters (legal).

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