Buyout (LBO, MBO, MBI) • Manufacturing

Explorer Investments Acquires Solzaima

On November 13, 2008, private equity firm Explorer Investments acquired manufacturer Solzaima

Acquisition Context
  • This is Explorer Investments’ 2nd transaction in the Manufacturing sector.
  • This is Explorer Investments’ 10th transaction in Portugal.
Investment Fate
  • Solzaima was sold to a consortium of financial buyers in 2016.
  • Solzaima was sold to a publicly-traded strategic buyer in 2023.

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M&A Deal Summary

Date November 13, 2008
Target Solzaima
Sector Manufacturing
Buyer(s) Explorer Investments
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Solzaima

Agueda, Portugal
Solzaima is a manufacturer of biomass-based heating systems, producing wood and pellet stoves, boilers, and central-heating solutions. The company focuses on sustainable, high-efficiency thermal technologies and supplies residential customers across domestic and international markets. Solzaima was founded in 1978 and is based in Agueda, Portugal
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Buyer Overview 1

Buyer

Explorer Investments

Lisbon, Portugal

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 1.8B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Explorer Investments is a private investment firm that looks to fund buyouts, as well as provide expansion and replacement capital to middle-market Portuguese companies. Explorer looks to invest a minimum of €10 million in transactions valued up to €150 million. Explorer does not have any sector preferences and typically holds investments for three to six years. Explorer Investments was formed in 2003 and is based in Lisbon, Portugal.


Deal Context for Buyer #
Overall 13 of 73
Sector: Manufacturing 2 of 7
Type: Buyout (LBO, MBO, MBI) 11 of 40
Country: Portugal 10 of 68
Year: 2008 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-31 Probos Plasticos SA

Mindelo, Portugal

Probos Plasticos SA is a global manufacturer of thermoplastic edgeband solutions, primarily PVC and ABS plastic edgebandings. Probos Plasticos was formed in 1977 and is based in Mindelo, Portugal.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-19 Gascan

Lisbon, Portugal

Gascan is a player in the piped LPG segment in Portugal, serving more than 65,000 domestic clients located throughout the country. The company manages its own supply infrastructure, comprising over 2,000 tanks and nearly 750km of associated pipes, and supplies over 12,000 tonnes of LPG each year. Gascan was founded in 1993 and is based in Lisbon, Portugal.

Buy -