Law firm quintet guides Real Assets IM´s €80m acquisition and €100m debt refinancing of HTG

PwC Tax & Legal Services has advised Real Assets Investment Management on the Spanish Law aspects while Paul Weiss, Arendt, Uría Menéndez and Allen & Overy have also advised the involved parties

Real Assets Investment Management (Real Assets IM), an independent investment platform specialising in social infrastructure, has agreed with ProA Capital and Investindustrial to acquire 100% of Health Transportation Group (HTG).

HTG is the leading provider of healthcare transportation services in Spain and the second largest in Europe. With close to 7,000 employees and more than 2,800 ambulances, it operates in Spain, Portugal and the UK. HTG’s business model is mainly based on contracts with public administrations for the deployment of its ambulances and trained personnel to provide high-quality medical transport, both in emergency medical services and scheduled patient transport services.

Real Assets IM intends to approach this new phase of HTG with the same management team, led by Gonzaga Higuero as CEO, with the aim of further strengthening its leadership position in Spain and the UK and continuing to grow internationally. The company will continue to reinforce its commitments to customers and employees, as well as to professionalisation and responsible and sustainable development, based on the increasing use of technology and ensuring, as a complement and support to Public Health, that the population in all the regions in which it operates have confidence in its safe and efficient transport services.

Roger Ammoun and Ram Kumar, managing partners of Real Assets IM, said: “Our investors and we are delighted to assume ownership of HTG. Over the past year, the Covid-19 pandemic has emphasised the importance of the healthcare transport sector as a whole, with HTG being a leading operator. We fully support the initiatives of HTG’s management team to continue to improve the quality of their operations by investing in systems and people and ensuring that they continue to provide the best services to their customers and the autonomous communities in which they operate.”

PwC T&L multidisciplinary team advising Real Assets Investment Management on the Spanish Law aspects of the €80 million acquisition of Health Transportation Group, as well as the group’s €100 million debt refinancing process, was led by Javier Gómez Domínguez (pictured top left), on the acquisition, and by Beltrán Gomez de Zayas (pictured bottom left), on the refinancing, both partners of PwC Tax&Legal Services, assisted by Joaquín Alegre Zalve, Banking & Finance senior manager and by Corporate M&A manager Silvia Puche.

Allen & Overy advised Deutsche Bank on the financing of the purchase of HTG. The team consisted of partners Jimena Urretavizcaya (pictured top right) and Charles Poole-Warren (pictured bottom right), along with associates Maria Ruiz-Gollury, Mark Klag and Marta Pelaez.

Other national and international law firms, such as Paul Weiss, Arendt and Uría Menéndez, have also participated in the transaction, representing the buyers, sellers and/or the banking syndicates.

Law firm quintet guides Real Assets IM´s €80m acquisition and €100m debt refinancing of HTG

Desire Vidal

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