Diana acquires minority stake in BQ

The fresh capital will enable the company to strengthen its balance sheet and further invest in international expansion, with plans to enter the British, Dutch, Belgian, Luxembourg and Middle Eastern markets over the next two years.

The deal is the third transaction made via Diana Capital II, which held its first close on €100m in January 2011. Other investments from the vehicle include a €6m commitment to a €16m funding round for Madrid-based Megafood, a Burger King franchise operator; and the acquisition of a 40% stake in children's clothing company Gocco.

The GP stated it was attracted to the company by its growth track record and its increasing ability to compete in the smartphone and tablet markets dominated by brands such as Apple and Samsung.

Company
Founded in 2009 and headquartered in Las Rozas, near Madrid, BQ is a manufacturer of 3D printers, robotics kits for children and multimedia devices including smartphones, tablets and e-readers.

BQ generated a turnover of €115m in 2013, up from €20m two years before, and expects to generate revenues of €200m for 2014. It has a headcount of around 1,000.

The business currently exports to Portugal, Germany, France, Italy, Switzerland and Sweden. In addition to its immediate international growth plans, it also intends to enter the US and Latin American markets in the coming years.

People
Francisco Gómez-Zubeldia is vice president and CEO of Diana Capital and Daniel Sandoval is an investment manager for the GP. Alberto Mendez is CEO of BQ.

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• Topics
• Expansion
• Technology
• Southern Europe
• Spain