Banc Sabadell sells Grafos after 11 years

Amy King
16 August 2013

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Spanish banking group Banc Sabadell has divested the stake in graphic products firm Grafos it held via its private equity arm Aurica XXI.

The 45% stake has been acquired by the Gómez Masana family, one of the founding families that already owned 55% of the company. The transaction is in line with the banking group's strategy to reduce its exposure to such investments.

The firm has been in administration since November 2012, with debt of €20m. Around €17m of the debt is made up of loan obligations to Bankia, BBVA, Popular, Deutsche Bank and Sabadell.

Previous funding
Sabadell acquired a 45% stake in the firm in 2002 via a €3.78m capital commitment. The transaction was designed to allow the Zantop family, one of the firm's founders, to exit the company.

At the time, the firm generated a turnover of around €4m, half of which was generated abroad, and employed roughly 210 members of staff. The transaction was the first completed via Aurica XXI.

Company
Founded in 1934 and based in Barcelona, Grafos is a graphic arts company. The firm specialises in the printing of high-end books and magazines in various formats. The firm also provides commercial printing services for catalogues, manuals, annual reports and announcements.

Grafos employs 120 staff.