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A product of the brand La Gula del Norte, belonging to Angulas Arguinaga. (Photo: Angulas Aguinaga)

Angulas Arguinaga comes into ownership of US fund

  (SPAIN, 6/29/2015)

The Spanish venture capital company Portobello confirmed the block sale of seven companies that make up its portfolio, among which is the renowned surimi producer Angulas Aguinaga.

Portobello will keep only the three companies it acquired in 2014: the cannery IAN, Vitalia and Eysa, specializing in parking signalling services.

The Spanish managing firm run by Iñigo Sanchez-Asiaín, Juan Luis Ramirez, Luis Peñarrocha, Fernando Chinchurreta and Ramón Cerdeiras managed to transfer almost all firms in block by selling seven companies:

  • Angulas Aguinaga and Ice Cream Factory Comaker, in the food sector;
  • Mediterranea de Catering, dedicated mainly to catering services for hospitals;
  • Veinsur, distributor of trucks;
  • UnoCTC Group, expert in outsourcing processes;
  • Festa, textile chain;
  • Multiasistencia, focused on repairing accidental losses.

As it was reported by Expansion, the buyer is an ad hoc sub fund raised by this operation by investors that were related to Portobello, led by US fund HarbourVest, which contributes 75 per cent of resources.

Market sources estimate that the purchase amount for Portobello portfolio will be around EUR 400 million.

The operation was planned in two stages. The first phase will involve the transfer of most of the companies while in the second phase, planned for after the European summer, Multiasistencia would enter.

Portobello expects to use the proceeds to repay investors for its second fund and help meet the strong investor appetite some of them have by facilitating greater involvement in the portfolio of companies through this secondary vehicle, which will continue under the management of the Spanish entity.

To HarbourVest and other investors, one of the attractions of this operation is the ability to take full advantage of the Spanish economic recovery.

Related article:

- US fund shows interest in buying Angulas Aguinaga

By Analia Murias
[email protected]
www.fis.com

 


Information of the company:
Address: Laskibar Bailara, 5
City: Irura
State/ZIP: Guipúzcoa (20271)
Country: Spain
Phone: +34 902 49 50 00
Fax: +34 902 49 50 01
E-Mail: [email protected]
More about:




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