Deal Details
Procubitos Announces Sale to Magnum
Summary
Procubitos Europe SL (“Procubitos” or the “Company”), a portfolio company of GED Capital (“GED”) and Grupo Hervaz (“Hervaz”), recently announced its sale to Magnum Industrial Partners (“Magnum”). Terms of the transaction were not disclosed. The transaction is subject to customary closing conditions.
Baird served as an advisor to GED and Hervaz on the transaction, alongside Arcano Partners, an independent financial advisory and asset management firm based in Spain. Baird and Arcano have an alliance focused on global M&A.
About
Founded in 1989, Procubitos is a European leader in the production and distribution of ice and the only one in the market with factories in multiple geographies, including Spain, Germany and Italy. Today the Company operates in over 15 countries and has a production capacity of over 750,000 tonnes per annum. Procubitos has established the benchmark in the market for quality, variety, innovation and production capacity. The Company manufactures different types of high-quality ice with maximum durability which takes longer to melt. Procubitos is headquartered in Madrid, Spain.GED is an independent asset manager founded in 1996 that operates in the middle-market segment. It currently manages more than 1 billion euros through various Private Equity, Infrastructure and Venture Capital vehicles. GED has a universe of more than 50 domestic and foreign investors, including pension funds, funds of funds, insurance companies, family offices and financial institutions. GED is based in Madrid, Spain.
Hervaz is the holding company of the Vázquez Gavira family which represents more than 20 companies across 20 countries. Founded in 1953, Hervaz’s investments span the agriculture, livestock, consumer, energy, real estate and industrial sectors. Hervaz is based in Cádiz, Spain.
Magnum is one of the leading private equity funds in Spain and Portugal. It invests in companies positioned in the middle-to-upper middle market and is one of the largest and most active investors in the Iberian market. Magnum is based in Madrid, Spain.
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- Date
- January 2024
- Company
- Corvara Investments, S.L. (GED Capital) and Grupo Empresarial Hervaz, S.L.
- Transaction
- M&A - Sellside
- Sectors
- Consumer
- Verticals
-
Food & Beverage
- Target Geography
- Europe
- Acquiror Geography
- Europe
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