Dentons advises on the acquisition of Mundeco
Dentons has advised Agronova Biotech on the acquisition of Explotaciones Mundo Ecológico (Mundeco) by Spanish private equity fund Magnum Industrial Partners.
The team that carried out the advice was formed by managing partner of corporate Jesús Durán with the collaboration of counsel Jorge Carmona Escudero.
Spanish private equity fund Magnum Industrial Partners has enlarged the perimeter of Agronova Biotech (formerly known as Grupo Probelte) with the acquisition of Murcia-based Explotaciones Mundo Ecológico (Mundeco) to strengthen its position in the natural fertilizer sector, as well as the company’s high growth potential in the segment of biostimulants from microalgae crops.
Alongside Magnum, José Manuel Casanova Abadía, brother of the famous businessman Trinitario Casanova, has a stake in Agronova Biotech. José Lozano, founder of Mundeco, will continue to lead the company in the new phase together with part of the management team. The company is a leading reference provider of nutrition and control solutions for organic agriculture.
Arcano Partners and Dentons have advised Agronova in the transaction, whose value is slightly below 10 million euros, according to market sources. The operation is in line with Agronova’s growth plan, betting on organic products with high added value for agriculture.
Magnum acquired a majority stake in Probelte (now Agronova Biotech) in November 2021, at a valuation of around 50 million euros, in view of the good growth prospects for the natural fertilizer industry over the next few years.
