SPAIN - Ricari to expand its portfolio in La Rioja region

Angelica Mari
18 October 2006

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Following fast economic growth in the Spanish region of Rioja, private equity firm Ricari is looking to expand its portfolio of locally-based companies in which to participate as a financial partner or strategic ally.

Ricari will typically invest EUR 600,000 per company, although the support can be extended in case that the company requires further backing. In order to receive funding, the companies will have to fulfill certain requirements such as being located in the independent community of La Rioja; have an attractive project and perspective of high profitability and a qualified, entrepeneurial management. There are no restrictions with respect to the structure or activity of the companies.

At present, Ricari is present in the shareholding structure of 6 Riojan SMEs and has invested EUR 6m in total. Last year, the firm managed 80% of the private equity operations conducted in La Rioja. It participates in companies of diverse sectors, such as Rihuelo (distributor of extra virgin olive oil) Sevimagen (design, manufacture and management of systems of corporate identity); and Cromolux (provider of anticorrosive metal treatment systems). It is also present in the shareholding structure of Jazz Group Comunicación (consulting services, marketing, publicity and digital development); Ingeniería Vidal (installation and maintenance of heating systems, gas and air conditioning) and lapoliza.com (Internet-based insurance brokerage business).