M&A Deal Summary

HCapital Partners Acquires Solzaima

On September 1, 2016, private equity firm HCapital Partners acquired manufacturer Solzaima from Explorer Investments

Acquisition Highlights
  • This is HCapital Partners’ 1st transaction in the Manufacturing sector.
  • This is HCapital Partners’ 1st transaction in Portugal.
Investment Fate
  • Solzaima was sold to a publicly-traded strategic buyer in 2023.

M&A Deal Summary

Date 2016-09-01
Target Solzaima
Sector Manufacturing
Buyer(s) HCapital Partners
Sellers(s) Explorer Investments
Deal Type Secondary Buyout

Target

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(S) 1

DESCRIPTION

HCapital Partners is a sector agnostic private equity and venture capital firm focused on investment opportunities in Spain and Portugal. The Firm's private equity group seeks to invest a minimum of €3 million in lower middle-market companies in the form of majority or minority positions. HCapital Partners was formed in 2014 and is based in Lisbon.


DEAL STATS #
Overall 1 of 1
Sector: Manufacturing M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: Portugal M&A 1 of 1
Year: 2016 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-05 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

Sell -

Seller(S) 1

SELLER

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 STATS #
Overall 8 of 27
Sector: Manufacturing M&A 2 of 3
Type: Secondary Buyout M&A Deals 4 of 7
Country: Portugal M&A 5 of 23
Year: 2016 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-12 Nutricafes S.A.

Amadora, Portugal

Nutricafés, S.A. produces and markets coffee and operates restaurant. The company engages in the production, management and marketing of key coffee brands such as Nicola and Chave D'Ouro in Portugal. Roasting and distribution of coffee. Nutricafés is the 3rd largest operator in the Portuguese coffee market with highly trusted and prestigious brands and with 22% market share in Lisbon and around 9% across Portugal. With two distinct leading brands: “Nicola Cafés” and “Chave D’Ouro” and with its complete product & services bundled offering Nutricafés currently covers 10,000 clients in the Out-of-Home and 83% of retail chains.

Sell €75M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 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.

Sell -