Sherpa Capital has sold Cegasa Portable Energy to Autlán for 26.35 million euros. PwC and DLA Piper advised Sherpa Capital while EY and Gómez-Acebo y Pombo advised Autlán. Based in Northern Spain, Cegasa Portable Energy is a producer of electrolytic manganese dioxide.
MADRID, 11 february 2020.- Sherpa Capital, a private equity fund manager with €400m in assets under management focused on investing in medium-sized companies, has announced the sale of Cegasa Portable Energy to Mexican trade buyer Compañía Minera Autlán, S.A.B. de C.V. (Autlán) for €26.35m.
Founded in 1934 and headquartered in the Basque Country (northern Spain), Cegasa Portable Energy is the second largest producer of Electrolytic Manganese Dioxide (EMD) in Europe, with annual sales of €17.7m in 2019.
The scope of the transaction has been limited to the Cegasa Portable Energy business unit, which was carved out from the Cegasa Group for its divestment. In this way, the Cegasa Energía business unit was excluded from the transaction that Sherpa Capital announced today. Cegasa Energía’s activity focuses on two areas: on the one hand, the manufacturing of Zinc industrial batteries and, on the other hand, the design, manufacturing and commercialisation of products and solutions for energy storage based on electrochemical batteries of Lithium-Ion technologies.
The sale includes the 50% stake that the company holds in Energía Portátil Cogeneración, a joint-venture with Iberdrola Cogeneración that operates an electric energy generation unit.
EMD is a key input in the manufacturing of alkaline batteries. In line with Autlán’s strategic plan, this transaction further strengths the growth of its Manganese Division in the batteries industry and diversifies its revenue base with non-steel applications.
Sherpa Capital has been advised by PwC and DLA Piper. EY and Gómez-Acebo y Pombo advised Autlán.
About Sherpa Capital:
Sherpa Capital is the leading private equity fund manager for investments in mid-sized companies seeking new challenges. It currently manages more than 400 million euros through Special Situations and Private Equity funds.
Compañía Minera Autlán, S.A.B. de CV
Autlán is a Mexican company which is recognised worldwide for the quality of its mining and industrial products, as well as for its operational excellence. Autlán creates value for its communities, shareholders, employees and clients by using its experience and the best available technology in its operations and growth and diversification projects.