M&A Deal Summary

SES Iberia Private Equity SA Acquires Salgar

On December 1, 2007, private equity firm SES Iberia Private Equity SA acquired furniture company Salgar for 48M EUR

Acquisition Highlights
  • This is SES Iberia Private Equity SA’s 1st transaction in the Furniture sector.
  • This is SES Iberia Private Equity SA’s largest (disclosed) transaction.
  • This is SES Iberia Private Equity SA’s 1st transaction in Spain.

M&A Deal Summary

Date 2007-12-01
Target Salgar
Sector Furniture
Buyer(s) SES Iberia Private Equity SA
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 48M EUR

Target

Salgar

Saragossa, Spain
website
Incorporated in 1970 in Saragossa, Salgar is the leader of the Spanish market of the bathroom accessories, shower screens and furniture. Its product offer is mainly aimed to the professional segment and to the refurbishment sector. Its turnover is equally spread between manufactured and distributed products. Salgar developed an original economic model through a network of 36 distribution warehouses that permits the company to reach a complete coverage of the Spanish territory and to offer its clients a reduced delivery period. During the recent years Salgar has also developed significantly its export activity and especially in the EU area. The company has a headcount of 160 and its turnover is above €40M.

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Buyer(S) 1

DESCRIPTION

SES Iberia Private Equity SA is a Spanish private equity firm that targets small and mid-sized Iberian companies, as well as French companies with interest in Spain or Portugal. SES looks to invest minimum of €3 million in companies with revenues of €20 to €50 million. The Firm will consider opportunities in a broad range of industries, however the Firm will not invest in financial services and real estate. Prospective transaction situations include buyouts, shareholder restructurings, and growth capital financings. SES Iberia Private Equity SA was formed in 2004 by Espirito Santo Capital and the Siparex group. The Firm is based in Madrid with additional offices in Lyon, France and Lisbon, Portugal.


DEAL STATS #
Overall 4 of 10
Sector (Furniture) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 3 of 8
Country (Spain) 1 of 3
Year (2007) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-01 SO Peso Group

Lisbon, Portugal

SO Peso is one of the operators of the self-service restaurant market in Portugal. The company exploits 16 restaurants (10 of which in the Lisbon region, 2 in the central region of Portugal, 2 in Oporto and 2 in Algarve), focused in the joint concept of restaurant, buffet and fast food, aimed to the high end segment of fast food consumers. The product offer is diversified and includes traditional dishes and grill including also soups, salads, fish, meat, deserts and fruits. The Company grew historically at a 10% annual growth rate and now generates a turnover over €14 M with 400 employees. SO Peso Group is based in Lisbon, Portugal.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-01 Groupe Protéines

Paris, France

Proteines is the French market leader in the consulting and communication group for issues related to health, nutrition and responsible consumption. Proteines offers to its clients products and services following the concepts of “informative and responsible communication” in branding, public opinion and crisis prevention strategies, advertising campaigns, and educational programs related to consumption patterns (the fight against obesity in particular). Proteines has a workforce composed of 95 employees and a turnover over €12M.

Buy -