Cinven acquires majority stake in UAX: advisors
International private equity firm Cinven, alongside UAX founder Jesús Núñez, and Mubadala Investment Company, has acquired a majority stake in Universidad Alfonso X el Sabio Group (UAX) from CVC Funds. Clifford Chance have worked alongside Cinven as legal advisors, with Alvarez & Marsal and Deloitte Legal. Lazard and Freshfields also participated in the transaction on the buyers’ side. Also Cuatrecasas has advised Jesús Núñez, founder of Universidad Alfonso X el Sabio, and his group of founding partners. On the seller’s side, PwC and Pérez-Llorca acted as legal advisors.
UAX is a private higher education platform in Spain. Jesús Núñez and the management team will reinvest in UAX, founded in 1993 in Madrid. CVC Funds invested in UAX in 2019 alongside the founding family. Over the last 6 years, UAX has been transformed into a professional and scalable higher education platform. UAX has recently invested more than €350m to enhance and expand facilities, including new campuses in Madrid and Málaga. As a result, total student numbers have increased from 8,000 to 35,000.
On Deloitte Legal’s side, the operation was advised by the tax M&A team composed of partners José María Gómez Rosende and Marcos Rodríguez, associates Marta Sánchez Martínez de Irujo, Manuel Ramírez Ortega, and Luz María Redondo de Haro, and junior José Jiménez González.
The Cuatrecasas team in charge of the advisory work was made up of partner Francisco J. Martínez Maroto, senior associate Pedro López-Dóriga, and associate Alejandro Aramburu from the corporate department.
The Pérez-Llorca advisory team was composed of Álvaro Ramírez de Haro, partner in corporate; Elena Veleiro, partner in regulatory; Isabel Moya, partner in employment, compensation and benefits; Alberto Ibort, partner in planning; Andy Ramos, partner in intellectual property, industrial and technology; Francisco Gómez, Jorge Flores, Fernando Quintana and Ignacio Sánchez, corporate lawyers; Víctor Corpa, regulatory lawyer; Eva del Amo, real estate lawyer; Sofía Pueyo, employment, compensation and benefits lawyer; and Natalia Ruigómez, planning lawyer.
On the picture above, José María Gómez Rosende and Marcos Rodríguez.
On the picture below, from left to right: Álvaro Ramírez, Elena Veleiro and Francisco Gómez.
