Cuatrecasas advises Mirai on the entry of new partners in Innometal and Ohmnia

Cuatrecasas has advised the Mirai industrial group in the opening of capital of its subsidiaries Innometal and Ohmnia Electronics to a combination of public and private partners. As part of this operation, the Basque Government (through its Finkatuz fund), the Vital Foundation and the Carmen Lequerica family have acquired 49% of the capital of both companies.

The entry of these new shareholders reinforces Mirai’s commitment to consolidate and diversify its presence in the electromechanical sector, as well as to ensure that its companies are firmly rooted in the Basque Country. Innometal and Ohmnia Electronics, which together have more than 900 employees and a combined turnover of 180 million euros, have eight factories in the Basque Country and maintain a strong link with the local industrial fabric, with 50% of their purchases going to suppliers in the region.

The Finkatuz fund, managed by the Basque Finance Institute, has contributed 35 million euros, while Fundación Vital and the Carmen Lequerica family, through its holding company Irene Carmen Lequerica, have invested 17.5 million euros each. For its part, Fundación Vital, a shareholder of Kutxabank, has invested in Innometal and Ohmnia Electronics, in line with its commitment to Alava, a region to which both companies will transfer their headquarters and where they have a solid industrial base and 200 workers.

Benefit for the customer

The opening of the capital of Innometal and Ohmnia Electronics to public and private partners will allow Mirai to strengthen its business commitment, diversify its product and service offering, and explore new markets in the field of manufacturing equipment for industry.

The firm has acted as advisor, coordinating the legal documentation with a team formed by José Ramón Berecibar and Elvira Azaola, lawyers who have led this operation for which they have counted with Ander Portillo.