Clave Mayor divests Gadea

The firm reaped a return of 2.5x money and 23% IRR for the Seguranza vehicle, a €36.1m vehicle managed by Clave Mayor that invests in technology-based firms in Castilla y León. The exit is the first completed through the fund.

The company's existing shareholders, including the management and pharmaceutical firms Gentec, Antartis Pharma and Muggio Holding, are understood to have bought the stake.

Previous funding
In 2008, Clave Mayor and Caja de Burjos invested €3m in Gadea in exchange for a minority stake.

Company
Founded in 1991 and based in Valladolid, Gadea is a group of affiliated pharmaceutical companies. The firm focuses on the development of pharmaceutical ingredients and chemical and galenic processes.

The company's turnover has risen from €28m at the time of Clave Mayor's 2008 investment to €60m in 2012.

People
Francisco Armero is director of Clave Mayor's Valladolid office.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Southern Europe
• Healthcare
• Exits
• Spain
• Clave Mayor