GED Capital buys Grupo OM from Nazca

The company's management team reinvested in the business and retained a minority stake.

The GP acquired Grupo OM via its GED VI España fund, which was launched with a €175m target and held a first close on €100m in March 2019. Unquote understands that the vehicle has raised €140m so far. It invests equity tickets in the €15-20m range in companies with EBITDA of €3-7m.

This is the second deal inked by the fund, following its acquisition in April 2019 of a majority stake in Aire, which specialises in the manufacturing of aircraft cabin interiors.

GED intends to bolster Grupo OM's growth both organically and via additional acquisitions, with the aim of creating an aggregation platform in the visual merchandising sector. It also plans to further boost the company's expansion across Spain and Latin America.

Nazca acquired Grupo OM – at the time known as Ovelar Merchandising – for €28m in 2012 from Tandem Capital (which sold its 38% stake) and several members of the company's founding family. The all-equity investment was completed through Nazca III, which closed on €190m in 2010.

Under Nazca's ownership, the company grew from a family business to an international player in the marketing sector, active across Spain and Latin America.

Company
Established in 1982, Grupo OM provides visual merchandising for the consumer goods, food and retail industries across Spain and Mexico. It offers optimisation of shelf organisation, price communication, points of sale and display shelving, and advertising campaigns.

The company is headquartered in Madrid with an additional branch in Mexico, employs 155 staff and generated EBITDA of €5m from revenues of €23m in 2018.

People
GED Capital – Enrique Centelles Satrústegui (managing partner).
Grupo OM – Alfonso Sebastián (CEO).

Advisers
Vendor – PwC (corporate finance); DLA Piper (legal).
Equity – KPMG (financial due diligence); Garrigues (legal).

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