M&A Deal Summary

PHI Industrial Acquires Compania del Tropico

On June 29, 2023, private equity firm PHI Industrial acquired restaurant Compania del Tropico from H.I.G. Private Equity and Kartesia

Acquisition Highlights
  • This is PHI Industrial’s 1st transaction in the Restaurants sector.
  • This is PHI Industrial’s 13th transaction in Spain.

M&A Deal Summary

Date 2023-06-29
Target Compania del Tropico
Sector Restaurants
Buyer(s) PHI Industrial
Sellers(s) H.I.G. Private Equity
Kartesia
Deal Type Secondary Buyout

Target

Compania del Tropico

Barcelona, Spain
Compania del Tropico is a multi-brand coffee-shop and fast casual dining operator. Compania del Tropico is a network of fully owned premises in the growing and fragmented Spanish food-service market. Compania del Tropico is based in Barcelona, Spain.

Search 214,239 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

DESCRIPTION

PHI Industrial is a generalist private investment firm focused on acquiring non-core divestitures or family-owned companies facing succession issues. PHI will consider opportunities across Europe generating revenues of €20 to €250 million. PHI Industrial was formed in 2006 and has offices in Barcelona and Madrid.


DEAL STATS #
Overall 15 of 15
Sector: Restaurants M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
Country: Spain M&A 13 of 13
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-27 HD Plus

Madrid, Spain

HD Plus is an insurance brokerage firm founded by professionals with extensive experience in the insurance and corporate markets. HD Plus is based in Madrid, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-02 Insulation Technology Group

Frankfurt, Germany

Insulation Technology Group is a provider of electrical insulation solutions for the global utility market. Insulation Technology Group is a manufacturer of high and ultra-high voltage porcelain insulators for mission-critical applications within electrical substations, overhead transmissions, and distribution infrastructure. Insulation Technology Group is based in Frankfurt, Germany.

Sell -

Seller(S) 2

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.


DEAL STATS #
Overall 160 of 181
Sector: Restaurants M&A 2 of 2
Type: Secondary Buyout M&A Deals 64 of 75
Country: Spain M&A 3 of 4
Year: 2023 M&A 7 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-28 CLC Group

Southampton, United Kingdom

CLC Group is a national property and asset refurbishment provider that offers clients national coverage with a local service. The business has focused on delivering property and asset services to customers in the social housing, local government, defense, hospitality, and utilities sectors. CLC Group is based in Southampton, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-05 Jenny Craig

Carlsbad, California, United States

Jenny Craig is a weight management services company. The Company provides consumers with a comprehensive weight management program that emphasizes personal support to help clients develop a healthy relationship with food, build an active lifestyle, and create a more balanced approach to living. Jenny Craig was founded in 1983 and is based in Carlsbad, California.

Sell -
SELLER

Kartesia

Investor Investor Investor Investor Investor


Category Lender
Founded 2013
PE ASSETS 5.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Kartesia is a private investment group and lender that looks to invest in lower middle-market companies throughout the European Union and Central Europe. The Firm is industry agnostic and seeks to commit €10 to €100 million in profitable companies with at least €5 million of EBITDA. Proceeds are typically invested alongside sponsors to support buyouts, recapitalizations, shareholder liquidity needs, or restructurings. Kartesia was established in 2013 and is headquartered in London.


DEAL STATS #
Overall 6 of 9
Sector: Restaurants M&A 1 of 1
Type: Secondary Buyout M&A Deals 3 of 5
Country: Spain M&A 2 of 2
Year: 2023 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-14 Richardson Sales Performance

Philadelphia, Pennsylvania, United States

Richardson Sales Performance is a provider of sales training and consulting firm. Richardson Sales Performance was founded in 1979 and is based in Philadelphia, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-21 Stelogy

Paris, France

Stelogy is a global operator of telecommunications and network infrastructure services for companies and administrations. Stelogy was founded in 2003 and is based in Paris, France.

Buy -