Private Equity

Overview

Alantra Private Equity pioneered and today leads the Spanish and Portuguese private equity industry. Its track record in the mid-market segment dates back 25 years.

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Features

Our investment strategy is focused on supporting international growth of leading Spanish and Portuguese upper mid-market companies (€10-40 million EBITDA). We believe we are uniquely placed to foster that process thanks to our differentiating competitive advantages:

1. Broad Industry Expertise

Since 1990 we have invested in 85 companies (49 platforms and 36 add–ons) in key sectors of the Spanish economy, building up the longest track record in Spain and Portugal.

2. Unique investment strategy

Supporting international growth at Spanish and Portuguese mid-market companies. Alantra Private Equity seeks sizeable and leading companies in their niche markets with outstanding management teams and competitive advantages exportable to other markets.

3. Presence in Spain, Europe and Latin America

Alantra Private Equity is headquartered in Madrid (Spain) and has an active presence in Europe, through Alantra Group’s local offices and Latin America (Mexico, Brazil and Colombia), where it boasts local insight via exclusive longstanding agreements with top-tier local partners.

4. Experienced, cohesive and committed team

Our investment team is the largest and most experienced team in Spain and Portugal. It encompasses 15 investment professionals who have been involved in over 50 acquisitions.

This team is supported by an unparalleled Executive Network formed by a group of well – connected senior executives from mid-market companies that bring deep industry knowledge and contacts.

We invest in well-managed and economically stable mid-sized companies with a leading market position, outstanding management teams, exportable competitive advantages, and an international growth strategy. We invest between €35 and €70 million in businesses with Enterprise Value up to €200 million, although we can channel higher amounts through co-investors.

Alantra PE employ a highly differentiated approach to creating value based on a strategic toolkit focused on 3 value creation levers:

  • Internationalization and exports: the cornerstone of the Alantra PE strategy is to foster organic international growth in portfolio companies. Alantra PE mitigates country risk and generates returns uncorrelated to country-specific macroeconomic trends by investing in companies with international presence already established and/or potential for international growth.
  • Strategic add-ons and expansions: Alantra PE seeks to grow portfolio company revenues by identifying and executing appropriate add-on opportunities in Iberia and internationally and enhancing expansion plans. Alantra PE is uniquely positioned to identify and execute such add-ons and/or expansions as a result of its extensive market experience and a well-developed professional network including the European Alantra Group platform, LatAm local exclusive partners and an extensive Executive Network.
  • Cash and profitability focus: the Alantra PE team seeks to identify investments with opportunities to create value through cash management, operational improvements and economies of scale, and then to implement those improvements through active management.

We primarily take majority stakes in order to be able to exert influence (occasionally, minority positions are also contemplated, depending on the transaction’s specifics and our partners’ needs). A hands-on active management approach, unlocked by controlling positions, enables the implementation of key strategic decisions.

We are a generalist investor (the only sectors carved out are real estate and financial services) although we prefer to invest in the sectors in which we have developed expertise throughout our almost 25 years in the business (health and wellness, consumer goods and services, manufacturing, retailing, business services, TMT and some niche industries).

Alantra Private Equity is headquartered in Madrid (Spain) and has an active presence in Latam (Mexico, Brazil and Colombia) where it boasts unique local insight thanks to exclusive longstanding agreements with top-tier local partners. Our unique approach to Latam is three-pronged:

  • Three Partners who are responsible for the three main Latam markets (Bruno Delgado -Colombia, Mariano Moreno-Brazil and David Santos-Mexico)
  • Three Advisory Board members who are based in these markets (Jorge Alberto Jiménez in Colombia, Vinicius Prianti in Brazil and Carlos Bracho in Mexico)
  • Strategic alliances with local General Partners: MAS SEAF in Colombia and Wamex in Mexico

In addition, Alantra Private Equity leverages the Alantra Group’s pan-European presence, with offices in the UK, France, Italy, Germany, Luxembourg, Switzerland and Turkey.

1. Alantra Private Equity Funds:

  • Alantra Private Equity Fund II, closed in 2008, raising €304 million for taking majority stakes in mid-market Spanish and Portuguese companies with an international strategic focus
  • Alantra Private Equity Fund I, closed in 2003, raising €176 million for taking majority stakes in mid-market Spanish and Portuguese companies
  • Dinamia Capital Privado SCR, S.A., the first listed evergreen vehicle in Spain, with a net asset value of c. €165m.

2. Other funds under management

  • Mercapital Spanish Buyout Fund III, €550 million fund, raised and invested by the former Mercapital team and inherited as a consequence of the merger between Alantra Private Equity and Mercapital (July 2012).

We believe in responsible investing. By engaging in a broad set of sustainability considerations – including environmental, social and governance (ESG) issues – we can improve the financial performance of our portfolio companies as well as the alignment between investors and society at large.

Whether these relate to improved health and safety practices, better energy efficiency, ensuring high standards of labour practices or ethical supply chain management, all of these areas have a direct impact on the financial and reputational risks to which Alantra Private Equity and our investors are exposed.

As part of our commitment to responsible and ethical investing, we have become a signatory to the United Nations Principles for Responsible Investment. These voluntary principles provide a useful framework for incorporating ESG issues into mainstream investment decision-making and ownership practices. Please for more information on the UN PRI.

As part of the Alantra Group, Alantra Private Equity benefits from the support of the leading mid-market financial service firm in Iberia. Thanks to its global reach (please click here for more information on Alantra Group), being part of the Alantra Group gives us unique market reach in terms of pinpointing business opportunities and gaining preferential access to valuable relationships and top-tier institutional and private investors.

  • 2016

Best Deal of the Year in the Mid-Market 2015-ASCRI (Spanish Private Equity Association)

  • 2015

Best Spanish LBO Fund– Private Equity Exchange and Awards

  • 2014

Special Distinction in the category of Best Spanish LBO Fund– Private Equity Exchange & Awards

  • 2013

CAPCorp Impulsa Award for the firm making the greatest contribution to development of the Private Equity industry in Spain

  • 2008

Iberian Private Equity Firm of the Year– Private Equity International

Best LBO of the Year (USP Hospitales)– ASCRI

Mediterranean Private Equity Firm of the Year– Private Equity News

  • 2007

Iberian Private Equity Firm of the Year – Private Equity International

Mediterranean Deal of the Year (Cesa Eólica)– Real Deals

  • 2006

Iberian Private Equity Firm of the Year – Private Equity International

Southern European Private Equity Firm of the Year– Private Equity News

  • 2005

Iberian Private Equity Firm of the Year – Private Equity International

  • 2004

– Iberian Private Equity Firm of the Year – Private Equity International

  • 2003

– Iberian Private Equity Firm of the Year – Private Equity International

  • 2002

– Iberian Private Equity Firm of the Year – Private Equity International

Team

Partners

Federico Pastor

Partner & Chairman of Alantra Private Equity

Federico Pastor

Federico’s long and diverse private equity career spans over 24 years. In Alantra Private Equity since 1992, he has led or co-led in a large number of transactions covering most industrial sectors, all manner of investment structures and several business cycles…

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Gonzalo Rivera

Partner & CEO of Alantra Private Equity

Gonzalo Rivera

Gonzalo’s extensive private equity career – of over 20 years – was built at some of the best reputed mid-market firms in Spain…

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Javier Arana

Partner

Javier Arana

Javier has over 10 years of private equity experience, first in the local mid-market firm MCH, and, from 2007, at Alantra  Private Equity…

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Bruno Delgado

Partner

Bruno Delgado

Bruno’s 15 years of experience in private equity (he joined Mercapital in 1999) were preceded by his work as management consultant in McKinsey, and as financier at Sevillana de Electricidad…

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Mariano Moreno

Partner

Mariano Moreno

Mariano has a unique combination of experience in private equity, industry and management consulting…

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David Santos

Partner

David Santos

David started his private equity career in 2006, at Alantra Private Equity, after eight years as a management consultant at McKinsey, having previously worked as a financial analyst at Salomon Brothers…

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Directors

José Alberto Parejo

Director

José Alberto Parejo

José Alberto brings his previous experience in finance and banking to his current investor relations role…

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Ángel Manotas

Director

Ángel Manotas

Since joining N+1 Private Equity in 2007, Angel has played a significant role structuring and monitoring investments in the health, industry, engineering, business services and food sectors…

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Fernando Sanz-Pastor

Director

Fernando Sanz-Pastor

Since joining N+1 Private Equity in 2007, Fernando has been directly involved in several transactions in the health services, industrial goods, private education and food packaging sectors..

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Fernando Ortega

Director

Fernando Ortega

A member of N+1 Private Equity since 2010, Fernando has investment experience in the home decor, hotel and health club sectors…

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Principals

Manuel Alamillo

Principal

Manuel Alamillo

In his six years at N+1 Private Equity, Manuel has participated in several transactions in the business services, telecommunications, electronic equipment and food distribution sectors…

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Jaime Codorníu

Principal

Jaime Codorníu

aime began his private equity career in 2008 when he joined N+1 Private Equity…

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Juan Luis Torres

Principal

Juan Luis Torres

A member of N+1 Private Equity since 2008, he has worked on transactions in the healthcare, industrial distribution, food and marketing services sectors…

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Associates

Inés Álvarez

Associate

Inés Álvarez

Inés joined Alantra Private Equity in 2014, having worked for two years in Corporate Finance at PwC Madrid, where she was involved in transactions in the food, industrial equipment and finance sectors…

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Analysts

Laura Castro

Analyst

Laura Castro

Before joining Alantra, Laura was part of the FIG M&A team of Nomura in Madrid and the Macroeconomic Policy Direction at the Ministry of Finance in Colombia.

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Alberto Pareja

Analyst

Alberto Pareja

Before joining Alantra, Alberto was part of the FIG M&A team of Barclays in Madrid and previously worked as an intern in the M&A team at Lazard.

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Supporting Growth

After almost 30 years investing in mid–market companies in Spain and Portugal we are convinced that their international expansion will present unique opportunities for value creation in the years to come. In an increasingly global economy, it is currently easier than ever for companies with unique expertise, know-how or technology in a niche in which they enjoy a competitive advantage to grow their businesses beyond their borders.

Spain and Portugal’s mid-market companies, traditionally focused on their home markets, are beginning to follow the successful example of the large Spanish corporates, which are challenging the traditional leaders in many industries in both developed and emerging economies.

Our mission is to identify these dynamic, ambitious companies and, leveraging our expertise and international network, give them the financial and management support that they need to expand abroad.

We have an active presence in markets whose economies and private equity practices are undergoing a transformation similar to that observed in Spain since 1985. We can contribute the following in these markets:

  • Our experience since our inception, as we were founded when Spain was an emerging private equity market and have worked with the managers and entrepreneurs that spearheaded their companies’ transformation. Now we are helping them to make them grow abroad.
  • Our differential positioning in Spain and Portugal as we are the incumbent and benchmark player.
  • Uniquely for a Spanish and Portuguese private equity specialist, we offer a differentiated approach to Latam and an unparalleled reach throughout Europe.

The opportunity

The Spanish economy is recovering from its worst crisis in recent times, thanks to its exposure to more buoyant foreign markets. The structural reforms undertaken, and above all, the dynamism and determination of Spain’s companies, have driven double-digit growth in Spanish exports in recent years so that exports now account for around 32% of Spanish GDP.

The success of the foreign subsidiaries of Spanish multinationals, together with the flexibility and growing confidence of mid-market market companies, has completely changed the Spanish corporate landscape, which now revolves around tackling the opportunities emerging in Latin America and other overseas markets. In addition, the companies which have displayed the resilience and ambition to ride out the recession while expanding abroad stand to benefit the most from the imminent Spanish economic recovery.

Our role

Alantra Private Equity has invested in Spanish and Portuguese companies with international expansion strategies, helping them to build their presence abroad and/or to acquire local businesses. This strategy has enabled them to increase sales and profitability and to penetrate markets with growth potential, thus enhancing their intrinsic value.

We will continue to pursue this strategy in the future, focusing on leading Spanish and Portuguese mid-market companies with the potential to grow abroad.

Differentiated market reach

The Alantra Group’s extensive European presence gives Alantra Private Equity unique market reach:

  • Identification of add-on opportunities for portfolio companies
  • Access to industry experts
  • Access to market intelligence (e.g., market trends, competitors, joint ventures, potential buyers, etc.)
  • Implementation of organic growth plans (e.g., new product launches, penetration of new markets, investment in manufacturing platforms, etc.)

Investments

Clece

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2012/2014. CLECE S.A. provides cleaning, social, and education services to businesses and institutions in Spain, Portugal, and the United Kingdom.

Arsys

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2007/2013. Arsys Internet, S.L.U. provides information technology solutions.

Electra

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2008. Electra Partners Club 2007 LP is a private equity fund that specializes in direct and secondary direct investments.

Tryo

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2011. Tryo Group operates in the telecommunications field.

Eysa

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2011/2015. Car park operator, whose main activity is the management, operation, control and maintenance of on-street surface parking areas as well as the implementation of urban mobility IT solutions.

Contazara

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1996/2000. A leading provider of emerging water management technology.

Europastry

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1994/2000. Europastry is Spain’s leading producer of frozen dough, pastries and breads.

Alcad

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2007/2015. Company engaged in the research, design, manufacture and marketing of high-frequency products used to receive and distribute digital television signals in residential buildings.

Xanit

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2008/2014. A healthcare project designed to create one of the benchmark hospital groups in Spain.

Holmes Place

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2005/2011. The Iberian Peninsula’s benchmark high-end health club operator with facilities in major cities such as Madrid, Barcelona, Lisbon and Oporto.

Trefinos

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1995/1997. Manufacturer of cork stoppers for the wine sector serving wineries in the most prestigious oenological regions all over the world.

Duraval

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1997/1999. Mid-sized manufacturer of decorative paints, varnishes and resins sold through independent retailers, targeted at professional painters.

Ei Systems

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1998/2000. Specialist in the assembly of PCs as well as their retail and wholesale distribution and marketing.

Robbialac

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1999/2004. Manufacturer and sale of paints, varnishes, resins and emulsions in Portugal and Spain, with the Duraval and Robbialac brands.

Marie Claire

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1998/2003. Manufacturer of stockings, women’s and men’s socks with a growing position in women’s and men’s undergarments, lingerie and swimming costumes.

Woolworth

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1999/2008. Chain of c.350 large department stores targeted at the middle class population and offering low prices.

Atecsa

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2005/2009. Vehicle inspection service, or roadworthiness test, concession holder in the Valencia region, with facilities in Gandía, Játiva, Alzira, Onteniente, Ondara and Alcoy.

Serventa

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2006/2011. Benchmark player in the distribution of food and beverages through vending machines, serving over 20,000 points in the Iberian Peninsula.

Colegios Laude

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2006/2014. One of the largest chains of private, bilingual schools in Spain.

Bodybell

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2008/2015. Largest independent chain of personal care and beauty retail in Spain, with over 280 stores, and a strategy to lead the consolidation of its industry.

Alvalle

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1995/1999. Orange juice producer, leader in Spain, with a solid nationwide presence and more than 20 years of history.

Ubago

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1997/1999. Producer of specialist fish conserves and smoked fish, with the leading smoked salmon brand in Spain (Skandia).

Arco

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1999/2015. Arco is an independent winery in the high-end wine segment.

Perti

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1999/2003. A supplier of highly value-added items for the automotive industry, such as fibre-optic lighting cables, starter wiring, battery mass and complex auxiliary cables.

Multimedia Cable

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1996/1998. Multimedia Cable was an investment vehicle set up to participate in a range of cable TV.

Net TV

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2000/2008. The Net TV consortium was created by several of the major media groups operating in Spain and Europe.

Ydilo

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2001/2009. A pure-play IT outsourcing services company in the voice recognition and mobile multimedia service segments with a strong focus on international development.

Capital Safety Group

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1999/2007. The world’s leading manufacturer and seller of security equipment for the prevention of workplace accidents, including harnesses, belts, lanyards, netting and custom security systems.

Bestin

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2008/2010. One of the Iberian Peninsula’s leading logistics operators, with the capacity to offer end-to-end services throughout the supply chain, from design and planning to operational activities such as storage and transport.

Grupo Segur Ibérica

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2004/2011. One of the main security services providers in Spain, providing surveillance services, installation and management of alarm systems, installation of security systems and fire protection.

Nicolás Correa Anayak

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1999/2013. A company engaged in the design, development and production of medium and heavy machine tools such as milling machines and machining centres.

Betapack

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2012. A leader in the production of plastic closures in Latin America and Europe, with plants in Spain (Betapack) and Brazil (Mirvi).

Rubaiyat

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2012. Rubaiyat is a Spanish-Brazilian restaurant chain specialised in premium meats.

Salto Systems

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2013. Salto is engaged in the design and manufacture of products for the access control market, specialising in the electronic locks segment.

Grupo Novolux

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2005. Grupo Novolux is the only pure-play distributor in the private outdoor lighting segment in Spain and one of the main distributors in the Iberian Peninsula.

MBA

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2008. MBA is the fourth-ranked distributor of orthopaedic products in Spain and has a 15% market share.

High Tech

2003/2016. This hotel chain operates in the three-star and four-star segment targeting business travellers and city tourists.

Ziv

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2007/2012. ZIV is one of the leading manufacturers, distributors and installers of protection, control, metering and telecommunications products for power utilities.

Mivisa

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2011/2014. Mivisa is one of the leading manufacturers of tinplate food packaging in Spain.

Emfasis

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2005/2011. Leader in billing and direct marketing services for large corporations, particularly for the utilities, telecommunications and financial sectors.

Fundiciones Ansola

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1995/1998. Fundiciones Ansola is makes aluminium die castings for the production of automotive parts and small home appliances.

Funespaña

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1994/1999. At the time of the investment, Funespaña focused on the provision of funeral services and cemetery management.

Undesa

2000/2008. Undesa is an oleo-chemical group that manufactures and sells fatty acids and their derivatives.

Eusa

1995/2000. Equipamientos Urbanos S.A (EUSA) specialised in commercial management of outdoor advertising space on urban fixtures.

Movinord

1995/2001. Movinord is the leading Spanish manufacturer of office partitions and one of the main producers of dropped ceiling structures.

Unica

2001/2004. Unica Group provides cleaning services to hospitals, banks, shopping centres and offices in Spain.

Probos

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2013. Probos is a leading global manufacturer of thermoplastic edgebanding solutions

Secuoya

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2012. Grupo Secuoya is a communications company and provider of audiovisual services. The group has operations across Spain and production centres in the main cities.

GAM

2003/2007. Largest Spanish company specialised in the lease and rental of industrial vehicles for construction and industry, formed as a result of the merger of several regional operators.

Panasa

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2010. Panasa (Panaderías Navarras, S.A.) is the leading manufacturer, distributor and seller of fresh and frozen bread, baked goods and pastries in Spain.

Q Diagnóstica

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2009/2016. Leading private Spanish provider of diagnostic imaging services, operating 33 centres equipped with state-of-the-art technology.

Ossa

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2008. OSSA is a leading Spanish civil engineering group specialised in tunnels and other underground works.

Isolux Corsán

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1999/2002. Grupo Isolux was a provider of engineering and building solutions specialised in the telecommunications, environmental and energy sectors.

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Frequently Asked Questions

Alantra Private Equity FAQ