Corpfin Capital buys FCC logistics division for €32m

The deal is understood to be the first completed from Corpfin's latest fund, Corpfin Capital Fund IV, which has a €200m target. The vehicle was among the first to receive the backing of Fondo ICO Global, Spain's €1.2bn state-backed fund-of-funds. 

FCC Logística is the logistics business of Spanish group FCC, a construction, environmental and water services group. The sale will allow the group to reduce its net debt by €27m. The firm's strategic plan involves a €2.2bn debt reduction.

The company will be renamed Logisters following the deal. The transaction is subject to the approval of Spain's competition authorities. 

Company
FCC Logística is a logistics business with more than 30 years' experience in the automotive, retail, pharmaceutical and technology industries in Spain. The firm also has operations in Portugal, which account for 10% of revenues. 

FCC Logística employs 3,300 staff and achieved a turnover of €250m last year. The firm manages a storage network of 800,000m² and has 500 vehicles. 

People
Alvaro Olivares is a partner at Corpfin and led the deal.

Advisers
Vendor – Banco Sabadell (Corporate finance).  

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• Topics
• Support services
• Southern Europe
• Buyouts
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• Corpfin Capital