Private equity fund Abac Sustainable Value II FCR (Abac), a fund specialised in sustainable value investments in the mid-market segment, has completed the acquisition of the industrial arm of Intermas Group (Intermas).
In parallel, Catral Garden & Home Depot (Catral), a gardening company owned by JPMorgan and Blackpearl, are acquiring the group’s gardening and DIY division.
Abac plans to boost growth in Intermas’s industrial business, by promoting the company’s innovative material technology and sustainable product lifecycles.
Intermas, which is headquartered in Llinars del Vallès (Barcelona, Spain), was started by the founding family over six decades ago and currently generates annual revenues of approximately €190 million. The industrial business acquired by Abac has sales totalling €108 million.
The industrial division manufactures and sells high-performance technical materials for a broad spectrum of end products.
Abac, the only Spanish mid-market asset manager with the B Corp sustainability certification, plans to provide Intermas’s industrial business with the resources needed at the strategic, operational and financial levels to accelerate its expansion and foster more sustainable solutions. Abac will build on the company’s existing talent and development capabilities, which have earned Intermas a leadership position in a broad spectrum of material technologies.
Abac Capital was advised on the transaction by KPMG (due diligence), EY (legal) and Attalea Partners (ESG). Catral’s legal counsel, was Garrigues. Intermas Group was advised by DC Advisory (M&A), PwC (due diligence), Broseta (legal) and Roland Berger (sales due diligence).
Garrigues acted with Miguel Ángel Castejon de La Encina (partner – pictured left), Alejandro Sánchez Sánchez (counsel) and Leonardo Adam (senior associate).
Broseta acted with Carlos Salinas (partner – pictured right) and Manel Puig (senior associate) and Lina Nassar.
EY acted with Simeón García-Nieto (partner), Josep Maria Pujals (asociado senior) and Alejandra Pascual (associate) and for the financial aspects: Gonzalo Martín de Nicolás (partner) and Elena Galán (manager).