Ey Abogados has advised the Nexxus Iberia Fund on the acquisition of a significant minority stake in Solutex
EY Abogados has advised Nexxus Iberia Fund on the acquisition of a significant minority stake in Solutex, the leading manufacturer of highly concentrated Omega 3, to support its international growth.
The operation has been carried out through a capital increase, by which the fund becomes a reference shareholder, founded in 1995 by Fernando Moreno and Verónica Olaya in Madrid.
Solutex is one of the international leaders in the manufacturing of highly concentrated Omega 3 natural ingredients from fish and algae oils, which are mainly used for pharma and food supplement products. The company is one of the leading players in the Spanish market with nearly 100 employees, and exports 80% of production globally, mainly to North America, Asia and Europe. Solutex registered sales of €23.5m in 2021.
Fernando Moreno, president and CEO of Solutex, said: “We see our partnership with Nexxus as a key milestone to accelerate global growth and consolidate as one of the leading suppliers in the market. The team is highly motivated about this new stage, in which we will open new markets and continue betting on innovation, expanding our product offering.”
Maite Ballester, partner of Nexxus Iberia, added: “We are happy to partner with Solutex and its management team to support their ambitious growth plan. We believe that the market for Omega 3 products will continue to grow over the next few years, and will allow Solutex, thanks to its continuous R&D work for the development and manufacturing of new products, to strengthen its current position as a leading international player.”
EY Abogados M&A team that advised Nexxus Iberia Fund was led by partner Francisco Aldavero (pictured left) and senior manager Rosa Cañas (pictured right).