Nazca Capital has acquired a majority stake in CAIBA, a Spain-based maker of PET preforms and containers for the food, household products and personal hygiene sectors. No financial terms were disclosed. Oquendo, Uría and PWC advised Nazca on the transaction.
Madrid, 7th September, 2016.- NAZCA CAPITAL –a Spanish private equity firm focused in the mid-market segment– has reached an agreement (through its Fund Nazca III) with the Family Baños (owners and founders of the company) for the acquisition of a stake around 75% in CAIBA, a leading Spanish company specialized in the manufacture of PET preforms and containers for the food, household products and personal hygiene sectors.
In this new stage, CAIBA aims at consolidating its strong local growth gathered during the last years with its strategy focused in the continued increase of its client base, the development and innovation of new materials, products and formats and the entrance in new market segments, both at a local level as well as internationally (almost 15% of the sales come from exports). Thus, the company expects to invest in increasing capacity and reinforcing the production facilities to reach the growth plan. CAIBA does not exclude the possibility of growing through the acquisition of companies that may complement its product range.
CAIBA stands for its wide range of products, its diversified client base, for the innovation and development of new products (pioneer in creating new formats and developing colored packaging with one of the largest ranges of the market) and the quality of their services. Currently, CAIBA designs, manufactures and markets both PET preforms and containers for the main consumer sectors with a portfolio of over 800 clients including the leading companies of the food, household products and personal hygiene sectors.
The company, based in Valencia (Spain), has around 150 employees and 45,000 sqm of production facilities divided into two main manufacturing plants located in Valencia (inaugurated in 2012 and one of the most modern plants in Europe) and Jaen (the world’s leading olive oil production region, mostly packaged in PET), from where it produces and distributes both for the local and international markets. Additionally, CAIBA is the leader in developing in-house plants (where the blow-moulding process is carried out in the client’s facilities), with a total of 15 integrated blow-moulding plants. CAIBA is also one of the companies with the largest installed capacity in Spain (with 59 injection and blow-moulding machines) and in 2015 it manufactured more than 1,000 million units.
Oquendo, Uría and PWC have acted as advisors to NAZCA and BDO and Grant Thornton to Baños’s family.
Nazca Capital is a Spanish private equity firm with focus on the mid-market segment that operates since 2001. Nazca leads its market segment, both by volume of deals and by profitability of its investments. Since 2001 Nazca has completed 55 transactions: 23 acquisitions, 16 further built-ups on portfolio companies and 16 divestments.
NAZCA has fully invested and divested Fondo Nazca I and Fondo Nazca II with sizes of €100 million and €150 million, respectively. At present, NAZCA manages its third fund Fondo Nazca III, a €230 million fund with international institutional investors and investments in 7 companies: Eurekakids (educational toys), Grupo OM (visual merchandising), Agromillora (R&D in the agricultural sector), Gestair (private aviation), FoodBox (retail food), El Granero Integral (natural/ecological food) and Caiba (PET packaging). NAZCA has divested from: Svenson (hair treatments), Rodilla (fast food), Dibaq (animal feeding), Unipost (postal operator), Vinartis (wine sector), Lizarrán (food-retail), El Derecho (legal contents), Guzmán (gourmet food), Acens (hosting), Hedonai (medical-aesthetic sector), Elogos (e-learning), Fritta (Frits and glazes in ceramic sector), Autor (outdoor advertising), Grupo IMO (radiotherapy services) and Logifrio (specialized logistics). www.nazca.es