Squire advises on the acquisition of Adtech platform by Capital D
Squire Patton Boggs has acted as legal advisor to the London-based private equity firm Capital D in its acquisition of a minority stake in Refinery89, an AdTech platform that supports regional digital publishers across Europe and Latin America.
This transaction represents a significant step forward in Capital D’s strategic mission to partner with founder-led, disruptive mid-market companies across Europe. Founded in 2018 in Amsterdam and headquartered in Madrid, Refinery89 specializes in optimizing advertising revenues for web and in-app publishers.
The company operates across six key European and LATAM markets, including Spain, France, Germany, Belgium, the Netherlands, and Brazil, serving a diverse range of publishers focused on quality content in sports, lifestyle, local news, and politics. The total addressable market across these regions is estimated at €3.3 billion annually.
The cross-border team advising Capital D was led by partners Tim Stead (London) and Jeroen Sombezki (Amsterdam). Further, the Madrid-based team, consisting of partner Teresa Zueco, senior associate Manuel Gómez, and associate Íñigo Oliván, provided counsel to Capital D in the acquisition of Refinery89’s operations in the Spanish market.
