MCH sells Industrias el Gamo in secondary buyout

The company was part of MCH Iberian Capital II, which held a final close on €160m in May 2005. The fund is structured as a UK LP and a Spanish parallel vehicle, and sought a minimum subscription of €3m from investors. GP contribution stood at 1%.

At the time of the 2007 buyout the GP intended to hold the company for 4–5 years, according to unquote" data.

Mid-market investment bank Harris Williams & Co managed the transaction.

Previous funding
MCH acquired an 80% stake in Gamo in 2007, in a transaction valued at €70m. The remaining 20% stake was held by the company's management, which reinvested as part of the transaction. Fortis, Barclays and Banco Sabadell underwrote the leveraged finance package. The deal was originated by PwC.

The GP intended to consolidate brand leadership and boost the international expansion of the firm. MCH expected to also grow the business by sub-contracting the production of goods.

Company
Headquartered in Barcelona and founded in 1959, Industrias el Gamo manufactures airguns, pellets and related accessories for the outdoors enthusiast market.

The company sells its products in more than 50 countries. It expanded into the US in 1995 through the acquisition of a local distributor, which became El Gamo US Corporation. At the time of the 2007 buyout, the firm reported a turnover of €70m.

The firm has a €64m turnover according to Private Equity Network, a network of four mid-market private equity firms co-founded by MCH.

People
Jose María Muñoz and Ramón Nuñez led the original buyout for MCH in 2007.

Advisers
Vendor – Harris Williams & Co, Thierry Monjauze, Eric Logue (Corporate finance).

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• Topics
• Southern Europe
• Consumer
• Exits
• Buyouts
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