Abac Capital backs Iberfrasa

The GP bought a stake of around 60% for approximately €35m. Following the deal, Iberfrasa's founder, Francisco Rubio, will retain the remainder and continue to lead the company.

Abac intends to boost the company's growth both organically and via new acquisitions, while consolidating its market position and bolstering its expansion.

The GP invested in Iberfrasa via Abac Solutions, which closed on €320m in May 2016 and is almost fully deployed across nine companies.

Abac launched a second fund at the beginning of the year with a €350m target, as reported by Unquote. Like its predecessor, this new vehicle will target majority stakes in Spanish medium-sized companies with enterprise values in excess of €30m, operating in the consumer, energy, industrials, technology, media and telecommunications sectors. It will deploy equity tickets in the €20-50m range and complete 8-10 transactions.

Company
Founded in 1984 and headquartered in Quintanar de la Orden, near Toledo, Iberfrasa manufactures and distributes personal care and household products, including soaps, perfumes and detergents.

The company employs 300 staff and generates annual revenues of around €50m.

People
Abac Capital – Federico Conchillo (partner).
Iberfrasa – Francisco Rubio (founder).

Advisers
Equity – PwC (financial due diligence); Attalea Partners (ESG due diligence); Herbert Smith Freehills (legal).
Company – KPMG (financial due diligence); Garrigues (legal).

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• Southern Europe
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