Uría Menéndez advises Standard Investment on first Spanish acquisition
Uría Menéndez has advised Dutch private equity firm Standard Investment on its acquisition of a majority stake in Valencian plastics manufacturer Plásticos Ferrando, marking the investor’s first transaction in Spain.
The deal forms part of Standard Investment’s strategy to expand its presence in the Spanish market, where the firm has also opened an office in Madrid, its fifth European location after Amsterdam, Brussels, Copenhagen and Stockholm.
Plásticos Ferrando manufactures plastic piping systems for water infrastructure and is based in l’Olleria, Valencia. The transaction will see the Ferrando family retain a significant minority stake, while CEO Javier Valls will continue to lead the business and will also become a shareholder.
As part of the deal, Standard Investment will inject capital into the company to expand and modernise its production plant in Valencia. The investment is intended to increase manufacturing and technological capacity and support the company’s expansion into new product categories and markets.
The investment firm plans to support the company’s growth from approximately €30 million in revenues to €50 million. The strategy will focus on continued public infrastructure investment in Spain, expansion across the European market, adjacent product categories and further investment in industrial capacity and the product range.
Standard Investment and the Ferrando family will both be represented on the company’s board. The investment firm also plans to strengthen Plásticos Ferrando’s operational and financial capabilities while maintaining continuity across its management team, workforce, customers and suppliers.
The teams
Uría Menéndez advised Standard Investment on the legal aspects of the transaction with a Valencia-based Corporate and M&A team comprising partner Francisco Martínez Boluda, senior associates Carlos Anchel Robles and José Sánchez Rufino, with associate Juan Delgado Giner.
KPMG provided financial and tax due diligence, while Deloitte acted as financial adviser. Broseta advised the Ferrando family on legal matters.
