Espiga acquires 35% stake in Ubis

With its minority stake, Espiga is set to become the largest shareholder in Ubis after buying shares from a number of families.

Those family stakeholders, which controlled the entirety of the company's capital prior to the sale, will retain a combined 65% interest. According to Espiga, the majority of them divested a small fraction of their stake and chose to stay as shareholders.

The transaction, which did not feature a capital increase for Ubis, will be finalised in the next few weeks. It represents the maiden deal for Espiga Equity Fund. Although the GP's contribution for the current transaction remains confidential, it fell within the vehicle's €8-20m equity ticket.

Having exceeded the €100m mark when it held a first close in November 2014, Espiga Equity Fund is expected to raise €120-150m at a final close expected in October 2015. Speaking to unquote", the mid-market house revealed it is nearing the completion of a second investment via the vehicle.

Company
Founded in 1970, Ubis is an adhesive tape manufacturer specialising in a pressure-sensitive range it sells to the packaging industry, among others.

Headquartered in Hernani, Spain, the business claims to be the only provider in its segment in the country. In 2014, it posted €63m in revenues, 60% of which reportedly came from exporting its products to other EU countries.

People
Espiga was represented by managing partner Juan Carvajal and partner Pablo Bilbao.

Advisers
Equity – EY (Corporate finance); White & Case (Legal).
Vendor – Norgestión (Corporate finance, legal).

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• Topics
• Southern Europe
• Industrials
• Expansion
• Spain