Axis invests in Industrias Hidráulicas Pardo

The investment package includes a capital injection and a participatory loan. Financial details remain undisclosed.

Investment was made through Axis vehicle FESpyme, which contains total commitments of €422m. The fund makes investments between €1.5-15m, averaging at €2m in exchange for a minority stake.

Investment will underpin a growth strategy focusing on international expansion.

Company
Founded more than 35 years ago and based in Zaragoza, Industrias Hidráulicas Pardo manufactures healthcare equipment for healthcare establishments and the home. The company is part of Grupo HCS, comprised of three healthcare equipment companies Pardo, Oihana and Astaburuaga and created following MCH Private Equity's original €75m investment to support the MBO of Pardo in 2006. HCS group expects to report annual turnover of €26m for 2011.

People
Emilio Ramos is operations vice president at Axis.

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• Topics
• Southern Europe
• Healthcare
• Expansion