MHC, Qualitis, Carlye and Cabiedes: Venture capital divestments April

Integral service around a transaction
BY : Diego GutiérrezMay Wed, 2015
Spanish private equity funds have disinvested in April. Some of them in favour of foreign companies such as MHC and Qualitis.

desiv venture capital


MHC divests Garabilla canned food business

MCH Private Equity has sold a majority stake in Garavilla Preserves Italian style Bolton Group. Although the amount of the transaction has not been disclosed, it appears to have been a positive divestment for MCH. Conseras Garavilla was the largest investment for MCH Iberian Capital Fund III.

"The canning market is going through a global consolidation driven by Asian players and Conservas Garavilla was growing very well in Europe, especially in France and Latin America, which has attracted the interest of large companies in the sector.Bolton Group, one of the world's leading FMCG players, brings together 26 companies producing food, personal care and household brands, such as Ketchup Prima, WC Net and Omino Bianco. In the canned food segment, the Italian group owns Rio Mare, Europe's leading canned tuna brand, and the 40% of Calvoacquired in 2012 from the former savings banks (NCG Banco), Civic Banking, CCM)

"However, they still have two more shares left in the second fund, Nutricafés and Talgo The fund likes to have between four and six companies in its portfolio, which allows it to track companies well, it is not ideal to have a very large portfolio. MHC is preparing to launch its fourth fund, MCH Iberian Capital Fund IV, which has a target size of €260M and expects to close a first close of around €200M this May," says Diego Gutierrez of MCH Iberian Capital Fund IV. Abra-Invest

Qualitas and Denham divest in Fotowatio

Private equities Qualitas Equity Partners (QEP) and Denham Capital have sold the 100% of Fotowatio Renewable Ventures (FRV) to Abdul Latif Jameel Energy and Environmental Services.

Abdul Latif, who was already a partner of FRV, wanted to increase his activity in the renewable energy sector for several years.

This is the first major sale of a Spanish solar energy group following last year's reform of the sector. It is also the umpteenth investment by an Arab group in Spanish energy companies. The last major deal to be announced in this sector was just a few days ago, with the alliance of Kuwait's KIO group with Gas Natural.

FRV, based in Madrid, is one of Spain's leading renewable energy developers. Since 2006, Fotowatio has completed the construction, operation, maintenance and financing of more than 650 MW of photovoltaic and solar thermal plants, with almost $2,500M (about €2,000M of investment). Currently, the group has one 24 MW plant in full operation and a total of 370 MW of plants under construction and awarded.


Carlye divests in Applus

Carlyle sells the 11,54% of Applus for €165M. The transaction was carried out through an accelerated placement process with qualified investors.

The transaction has raised €165 million for the selling company. As part of the sale process, Azul Holdings undertakes not to transfer any further Applus shares without Morgan Stanley's prior consent for a period of 90 days after the date of the placement.

"The company, which has been listed for a year, has not performed well. It has lost 26.8% in value., from the €14.5 at which it debuted to the €10.6 at which it now trades", says Diego Gutierrez.

Cabiedes and Kibo leave Nanobox

EShop Ventures, the Madrid-based e-commerce startup, has completed the acquisition of Nonabox, the subscription portal for mum and baby products., which was in the hands of investors Cabiedes & PartnersBerstelmann and Kibo. They were reluctant to push their territorial expansion in Europe and although Nonabox had already received a €1.9m round, it needed a new injection.

If you are looking for financing, both public and private, do not hesitate to contact us on +34. 946424142. Abra-Invest has an expert team at your disposal. 

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