Abac buys five petcare companies

Abac intends to merge the five companies and create a new group operating in pet care. Following the deal, the GP plans to further boost the new entity's growth both organically and via new add-ons, while bolstering its expansion in Spain and internationally. The group is expected to reach revenues of around €70m in 2020.

The GP invested via Abac Solutions, which closed on €320m in May 2016 and is almost fully deployed. The fund has recently acquired Spanish manufacturer of personal care and household products Iberfrasa.

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
Elasa, Llanera, Maipe, Goiko and Norvet specialise in the distribution of drugs, medical and surgical equipment and food for pets.

People
Abac Capital – Federico Conchillo (partner).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Spain