Kronomav (Spain) - Jan 2008

Clave Mayor has acquired a minority participation in Spanish robotic guidance systems company Kronomav. The early-stage deal, which was valued at €1m, took three months to complete and was originated by the company which approached the financial sponsor in search for a capital injection to develop its business plan. The transaction was carried out through the Comval Emprende fund. Clave Mayor was attracted to the company because Kronomav offered an interesting product and the potential for growth within the sector.

Company

Massanasa-based Kronomav specialises in the manufacturing and commercialisation of robotic guidance systems for television and movie cameras. In particular the company has developed Travel Cam (both a horizontal and vertical camera guidance system); and Weather Cam (especially developed to capture meteorological phenomena remotely). The company has been commercialising its products since 2007 and expects to report a turnover this year. Founded in August 2006, it employs around 10 staff. The investors plan to expand the presence of the company at the national and international levels through the continued commercialisation of its current range of products while R&D is also pursued and new products expected for the first half of 2008. As part of the business strategy, the backers hold positions in the company’s board.

People

Pedro de Alava led the deal for Clave Mayor.

Advisers

Equity - Arpa Asesores, Laya Abos (Legal)Equity - Jorge Santos, (Financial Due Diligence)

Sourced from: Southern Europe unquote" 71 (Feb 2008)

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• Southern Europe
• Early-stage
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• Spain