MBO Partenaires acquires 22% stake in Llorente & Cuenca

Although MBO Partenaires secured a 30% stake in Llorente & Cuenca's holding company, its actual shareholding in the PR business will be around the 22% mark.

Partners in the business will retain the stakes they held before the deal, with the company's CEO and founder José Antonio Llorente holding on to his 51% stake.

Juan Cuesta, a partner at MBO Partenaires, join Llorente & Cuenca's management board as part of the deal.

Llorente & Cuenca stated it will use the fresh funds toexpand internationally. The communications firm is eyeing bolt-ons in Latin America, Spain and Portugal, with additional plans to enter new markets. Previous add-ons include the acquisition of Portuguese consultancy firm Imago in 2011 and Madrid-based Hermes Consultores de Comunicación in 2014.

Via this M&A strategy, Llorente & Cuenca claims to have seen an 80% growth in its turnover – from €13.1m in 2010 to €23.6m in 2014. With MBO Partenaires as a shareholder, the business aims to double revenues by 2019.

Company
Founded in 1995, Llorente & Cuenca is a consultancy firm that specialises in communications, public relations and reputation management services.

Headquartered in Madrid, the business operates a network of 13 agencies across 11 countries in the Iberian Peninsula and Latin America.

People
MBO Partenaires was represented by Juan Cuesta, a partner at the firm's Madrid office, as well as founding partner Richard Broche and investment manager Raphaël Lahaye. José Antonio Llorente is founding partner and CEO of Llorente & Cuenca.

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• Topics
• Southern Europe
• Expansion
• Media
• Spain
• MBO Partenaires