Private equity firm Sherpa Capital was advised by Gomez-Acebo & Pombo on the acquisition of a majority stake in Spanish co-working space provider Busining.
Gold Abogados advised Busining on the transaction.
Sherpa Capital will fund a €20 million expansion plan aimed at turning Busining into the “co-working spaces operator with the largest presence nationwide”, according to sources.
Sherpa Capital will own a majority stake in Busining, while founder Óscar García Toledo will continue as general manager of the company and will retain a “significant stake”, a statement said.
Haya Capital has also taken a minority stake in Busining.
Busining currently offers more than 12,000 square metres of workspace in five locations in Madrid.
Co-working office space in cities such as Madrid and Barcelona, currently accounts for between 0.5 per cent and 1 per cent of the total office stock, but industry sources anticipate this will increase to 10 per cent in the medium term.