Diana Capital acquires 80% stake in Fesa

Diana took an 80% stake in the transaction, with the remaining shares acquired by the GP's management.

Following the deal, the business will continue with its current growth strategy of international expansion and product diversification. The GP aims to double Fesa's turnover over the next five years.

Capital for the acquisition was drawn from Diana Capital II, which held its first close on €100m in January 2011 and was one of the first to receive the backing of government-backed fund-of-funds Fondo ICO.

Diana most recently invested €6m in a €16m round for Megafood, a Madrid-based company that operates the Burger King franchise, in October 2014.

Company
Headquartered in Beasain, Fesa is a steel foundry business with additional production centres in Tolosa and Olaberría. The company supplies brake discs to the rail industry, as well as steel components for use in mining and the production of cement.

Fesa has a turnover of around €70m, with 90% of its revenues generated from exports. The business has a headcount of around 280.

People
Francisco Gómez-Zubeldia is vice-chairman and managing director at Diana.

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• Buyouts
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