SPAIN - Qualitas backs acquisition of Garnica Plywood

Private equity house Qualitas Equity Partners has acquired the entire shareholding in plywood distributor Garnica Plywood alongside its management team in a deal of undisclosed value. The growth route for the La Rioja-based company encompasses the acquisition of sector companies in Eastern Europe as well as organic growth. Garnica Plywood had returns of EUR 44m in 2005 and expects to reach EUR 60m by the end of this year.