• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deal search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
      • Deals search
      • Exits search
      • Funds search
      • Sponsors search
      • Advisers search
      • LPs search
      • League tables
      • Reports
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
UNQUOTE
  • Exits

Magnum sells Lexer to L-Gam's Grupo BC

Magnum sells Lexer to L-Gam's Grupo BC
  • Alessia Argentieri
  • Alessia Argentieri
  • 09 April 2021
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Magnum Capital has sold legal business-services adviser Lexer to Grupo BC, which is backed by L-Gam.

The deal values the company at around €150m, which would equate to approximately 7.5x its 2020 EBITDA, a source close to the situation told Unquote.

Magnum received several offers for the company at the beginning of 2020 and hired Arcano to analyse the bids, but decided not to launch an auction process, a source close to the situation told Unquote.

Following the coronavirus outbreak, the sale was delayed for a few months, but negotiations restarted in 2021 and Grupo BC was selected as the most suitable buyer, the source added.

Following the deal, Lexer's founders Manuel Broseta and Pedro Escudero will take a seat on Grupo BC's board, while Ignacio Calomarde will remain CEO of Lexer.

Grupo BC is a mortgage and banking service owned by L-Gam, an investment firm backed by Liechtenstein's ruling family. The firm acquired a stake in the business in 2015 from Talde and Miura, which owned a combined 40% holding. L-Gam's takeover was supported by a €35m senior debt, €8m revolving credit facility and €3.5m capex underwritten by BBVA Leveraged Finance Group and CaixaBank. A mezzanine package was also provided by Oquendo Capital.

With the addition of Lexer, Grupo BC will employ more than 5,000 staff and achieve a 25% increase in its annual turnover, reaching €250m in 2021, according to the company.

Magnum bought a majority stake in Lexer in December 2018 via its €394m second fund. The company's founders and shareholders, Manuel Broseta and Antonio Navarro, retained a minority stake in the business. With the GP's support, the company pursued an intense buy-and-build strategy with the acquisitions of debt specialist Cumbre; legal services provider Medina Cuadros; and debt recovery platform Cobralia.

Company
Headquartered in Madrid, Lexer specialises in mortgage collection, debt recovery, real estate management and legal services.

The business is composed of four companies: Lexer, Cobralia, Cumbre and Medina Cuadros.

The group employs 750 staff and generates EBITDA of around €20m from annual turnover of €50m, a source close to the situation told Unquote. 

People
Magnum Capital Industrial Partners
– Angel Corcóstegui (founding partner); Alberto Bermejo (partner).
Grupo BC – Santiago Bellver (president); Xavier Costa (CEO).

Advisers
Acquirer – Socios Financieros (corporate finance); DWF RCD (legal).
Vendor – Arcano (corporate finance); HSF (legal); PwC (financial due diligence).

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Exits
  • Portfolio management
  • Financials
  • Magnum Capital Industrial Partners
  • Spain
  • Exclusive

More on Exits

Partners Group to release IMs for Civica sale in mid-September
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • Exits
  • 04 September 2023
Actera Group explores strategic options for Celebi Ground Handling
Actera Group explores strategic options for Celebi Ground Handling

Several investors placed bids for the company in 2022 but mismatch in pricing didn't lead to a deal

  • Exits
  • 30 August 2023
Norstat owner Triton Partners explores sale via William Blair
Norstat owner Triton Partners explores sale via William Blair

GP has owned the Norway-headquarterd market research business for almost four years

  • Exits
  • 25 August 2023
IK Investment-backed Eres expected to hit the auction block by 2024
IK Investment-backed Eres expected to hit the auction block by 2024

French employee savings distribution and management firm could be valued at a few hundred million euros

  • Exits
  • 24 August 2023

Latest News

Partners Group to release IMs for Civica sale in mid-September
  • Exits
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
BHM Group builds on PE strategy, eyes European medtech and renewable energy acquisitions
  • Investments
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Czech Republic-headquartered family office is targeting DACH and CEE region deals

  • 01 September 2023
Redalpine expands leadership team amid CHF 1bn-plus fundraise
  • Venture
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO

  • 31 August 2023
Change Ventures aims to hold final close for EUR 20m third fund by mid-2024
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Estonia-registered VC could bolster LP base with fresh capital from funds-of-funds or pension funds

  • 31 August 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013