Espiga sells Invesa to Animedica

The trade sale is in line with Animedica's current acquisitive international growth strategy.

Following the acquisition, the firm will strengthen its focus on production for certain animal groups, including household pets and horses, and will follow a market consolidation strategy.

Previous funding
In 2005, Espiga acquired an 88% stake in the company in a deal worth €22m. The management team retained the remaining 12%. Espiga was introduced to the deal by corporate finance house Atlas Capital and participated in a restricted auction. Banco Santander provided senior debt financing for the transaction.

Company
Founded in 1980 and based in Barcelona, Industrial Veterinaria manufactures pharmaceutical products for the veterinary industry. The company employs around 200 staff and sells its products in more than 80 countries, through subsidiaries and export partners.

People
Carlos Prado is a director at Espiga. Robert Saborit is managing director of Invesa.

Advisers
Vendor – DC Advisory Partners (Corporate finance); Ashurst (Legal).
Acquirer – Deloitte (Financial due diligence, tax); Skadden (Legal); Uria Menendez (Legal).

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