Uría advises Silver Lake on the acquisition of Grupo BC, assisted by Dwf-RCD

Uría Menéndez has counselled SLP Beethoven L.P. (Silver Lake) on the purchase of Grupo BC, which was legally advised by Dwf-RCD on the transaction

Grupo BC, the leading mortgage management, legal and digital services provider to the financial sector in Iberia and Latin America, announced that Silver Lake, a leading global technology investment firm, together with Grupo BC’s founding shareholders and management team, will acquire 100% of the company from majority holders L-GAM in order to foster the next phase of Grupo BC’s growth and value creation. The deal´s value has not been disclosed so far.

Santiago Bellver, chairman of Grupo BC, and Xavier Costa, CEO of Grupo BC, said: “We are grateful to L-GAM for the support and collaboration over the six years of their investment in Grupo BC, and delighted about the new partnership with Silver Lake, a leading global technology investor which has placed their trust in us and with whom we will be able to strengthen our organic growth thanks to their technological expertise and through selective acquisitions. We will shortly communicate the objectives of our strategic plan and the composition of the new Board of Directors.”

Christian Lucas, co-head of Silver Lake EMEA, said: “Grupo BC is an outstanding company with a unique value proposition as a scaled and tech-enabled provider of mission-critical services and software to financial institutions across Iberia and Latin America. We are impressed by the way Santiago, Xavier and the rest of the team have developed and continuously digitalized the Grupo BC platform over the years, building it into the partner of choice for clients across its ecosystem. Investing in impactful, leading and technology-enabled business models is at the core of Silver Lake’s DNA, and we feel privileged to partner with management as Grupo BC enters a new phase of organic and inorganic growth.”

Founded in 1974 and headquartered in Madrid, Grupo BC is the leading tech-enabled processing platform, software and services provider for mortgage management, online mortgage brokerage, legal solutions (claims processing and loan management), and digital solutions to the financial sector in Spain, Portugal, Mexico, Brazil, Colombia, Chile and Peru. Grupo BC is a market leader across its key focus areas with more than 500,000 mortgage files processed per year and 5,300 employees.

Socios Financieros and Canson Capital Partners served as the financial advisors to Grupo BC and its shareholders. Dwf-RCD served as the Legal advisor to Grupo BC and its shareholders. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Uría Menéndez served as the Legal advisor to Silver Lake.

Uría Menéndz´s team was led by Madrid office partners: Pedro Ravina (pictured left) (M&A-Private Equity), Tomás Arranz (pictured centre) (Competition), Manuel Echenique (pictured right) (M&A-Private Equity), and counted on the support of M&A-Private Equity junior associates Santiago Urrecha, Luis Ignacio Díaz, and Lorenzo de Benito.

Desire Vidal