Springwater takes minority stake in Nuba
Springwater Capital has acquired a minority stake in Nuba, a Spain-based travel agency, expanding Springwater's exposure in the Iberian tourism sector.
The growth capital commitment is in line with Springwater's experience in the Iberian travel space, having bought Portuguese company Espírito Santo Viagens from Rioforte Investments, the investment arm of financial group Grupo Espírito Santo, in September this year.
The business will use the fresh funding to expand its sales channels. Nuba also intends to grow acquisitively following the investment.
Company
Founded 20 years ago and based in Madrid, Nuba is a travel agency with offices in Barcelona, San Sebastian, Alicante, Malaga, Pamplona, Las Palmas, Murcia, Asturias, Tarragona, Gerona, Granada, Valladolid and Vitoria.
People
Martin Gruschka is president of Springwater.
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