The investment fund Magnum Capital has acquired a stake in the capital of the digital advertising company SunMedia to boost its internationalisation.
SunMedia is an AdTech active in Spain and in Spanish speaking countries, which specializes in video, mobile and performance. The company has workforce of more than 190 employees operating across ten locations, including two in Spain and eight in Latin America, the United States and Sweden.
Magnum Capital is one of the largest and most active private equity firms focused on Spain and Portugal.
The CEO of SunMedia, Fernando García, will stay with his team in the company. He has affirmed that this is “a unique opportunity” to expand the company. The fund announced earlier this week the sale of its stake in Aire Networks in a deal valued at around 600 million euros.
Squire Patton Boggs and Herbert Smith Freehills acted as legal advisors to Sunmedia and Magnum respectively.
Herbert Smith Freeehills acted with Nicolás Martín and Pablo García-Nieto; for corporate aspects with Paula Pérez-Ardá, Mercedes Olmos, Carmen Muñoz; for tax aspects with Marta Esteban; and for finance aspects with Armando García-Mendoza, Carmen Jara and José Faz.
Squire Patton Boggs acted with a team led by partner Ramón Castilla, comprising senior associate Antonio Fernández-Rodríguez and associate Cristina Fernández. For financial aspects, partner Pablo Rodríguez and associate Diego de Egea; for tax aspetcs, José Eduardo Aguilar-Shea, partner of the department, Miguel Nasser, senior associate and Andrea Boullosa. Juan Nasarre, director of the labour department, and Antonio García and María Hernández, both associates, also advised on this transaction.