Corpfin backs management buyout of Secna

Spanish private equity firm Corpfin will take a 51% stake in Eurogamma; the group's management team will also increase its shareholding.

The buyout marks the fourth investment made by Corpfin's €255m fund IV. The other three investments made from the fund were Logiters, Grupo Preving and El Fornet.

According to a statement released by Corpfin, the acquisition is part of a strategy to boost the group's sales force and improve its global presence. Secna also recently invested €20m in a new production plant in the Valencian town of Chiva, in a bid to double its production capacity and develop new products.

While the enterprise value of Eurogamma group was not disclosed, the dye manufacturer is understood to be valued in the €50-100m range.

Company
Eurogamma, a manufacturer of natural dyes for the food and drinks industry, has operating subsidiaries and production plants in Italy and Turkey. The firm specialises in producing red and dark tones using raw materials such as red grapes, black carrot and caramel.

Eurogamma operates in 70 countries and reported consolidated sales of more than €50m in 2014. Valencia-based Secna is one of Eurogamma's most important subsidiaries.

Advisors
Equity - Clearwater International (Corporate finance); Garrigues (Legal).
Vendor - N+1 (Corporate finance); Studio Biscozzi Nobili (Legal).

 

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• Topics
• Buyouts
• Southern Europe
• Industrials
• Spain
• Corpfin Capital