GPF acquires Acuntia from Corpfin

The deal brings Corpfin's 4.5-year ownership of the ICT solutions provider to a close, with Acuntia's key executives retaining the remainder of the shares in the company.

Back in 2011, Corpfin had taken a 66% stake in Acuntia via its Corpfin III fund. The private equity firm said that Acuntia bolstered its position over the years, expecting its revenues to improve by 20% from €69m in 2014 to €83m in 2015.

It is understood that Corpfin will make around 4x its investment in this transaction and that the company's operating profit is thought to have reached €8m in 2015.

Company
Founded in 1991 and headquartered in Madrid, Acuntia is a provider of ICT solutions and services. The Spanish firm designs, implements, maintains and monitors the communication networks of more than 300 customers through six branches in Spain.

Acuntia's clients include telecommunications operators, large corporations (including 25 of the IBEX-35 companies) and public institutions.

People
José Manuel Sánchez is CEO of Acuntia. Fernando Trueba is a partner at Corpfin.

Advisers
Equity – Uría Menendez (Legal).
Vendor – Arcano (Corporate finance); Alemany Escalona & De Fuentes (Legal).

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• Secondary buyout