Barwon Partners enters Dinamia fund

The acquisition of approximately 2 million shares totalled around €15m and was completed through the purchase of two share blocks.

Each block held slightly more than 3% and 7% and were previously owned by existing Dinamia shareholders; the insurer Agrupació Mutua has reduced its former 7.5% stake in the fund, while La Caixa has fully exited the shareholding.

Dinamia was listed on the Mercado Continuo in December 1997 with capital of around €120m. The vehicle backs mid-market unquoted companies, primarily in Spain and Portugal, with enterprise values of €50-300m.

The fund generated a total shareholder return of 65.8% in 2012 between dividends and share price gains.

Recent transactions include the acquisition of Portuguese plastic band manufacturer Probos from Explorer in February 2013 and the buyout of Grupo Secuoya in late 2012.

Barwon is an Australian fund manager that specialises in listed private equity investments. The deal sees the investor return to Dinamia, having sold its former shareholding in the vehicle four years ago.

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