M&A Deal Summary

PhotoBox Acquires Hofmann SLU

On November 13, 2014, PhotoBox acquired consumer services company Hofmann SLU from Realza Capital, Inversiones Ibersuizas and Portobello Capital

Acquisition Highlights
  • This is PhotoBox’s 1st transaction in the Consumer Services sector.
  • This is PhotoBox’s 1st transaction in Spain.

M&A Deal Summary

Date 2014-11-13
Target Hofmann SLU
Sector Consumer Services
Buyer(s) PhotoBox
Sellers(s) Realza Capital
Inversiones Ibersuizas
Portobello Capital
Deal Type Add-on Acquisition

Target

Hofmann SLU

Paterna, Spain
Hofmann SLU is a provider of digital printing services and markets for digital albums and other customized digital products, such as canvases, posters and mugs. Having over 400,000 customers all over Europe.

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Buyer(S) 1

Buyer

PhotoBox

London, United Kingdom

Category Company
Founded 1999
Sector Consumer Services
DESCRIPTION

Photobox offers a wide range of photo gifting products including photo books, calendars, canvases and wall-art, mugs, gifts, jigsaws, prints and magnets. The company has strong market positions in United Kingdom, France, Spain and Germany as well as other European markets. Photobox serves its key geographical markets through three online brands: Photobox, Hofmann & PosterXXL.


DEAL STATS #
Overall 2 of 4
Sector: Consumer Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 4
Country: Spain M&A 1 of 1
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-25 Moonpig Group

London, United Kingdom

Moonpig Group comprises the Moonpig, Buyagift, and Red Letter Days brands in the UK and the Greetz brand in the Netherlands. Moonpig is an e-commerce destination for greeting cards, physical gifts, flowers, and gift experiences. Moonpig was formed in 1999 and is based in London, England.

Buy £120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-27 PosterXXL AG

Munich, Germany

PosterXXL AG is a provider of individualized photo services in digital printing.

Buy €343M

Seller(S) 3

SELLER

Realza Capital

Madrid, Spain

Investor Investor Investor


Category Asset Manager
Founded 2006
PE ASSETS 335M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Realza Capital is a private equity group focused on investing in mid-sized Spanish companies. Realza looks to invest alongside entrepreneurs, management teams and founding families when pursuing opportunities. Target companies generally have leading market positions and attractive growth prospects. Realza typically looks for businesses valued up to €80 million where the Firm can commit €10 to €30 million per transaction. Realza does not have any sector preferences, however the Firm avoids opportunities in real estate and financial services, as well as start-ups and unprofitable businesses. Realza Capital was formed in 2006 and is based in Madrid, Spain.


DEAL STATS #
Overall 1 of 6
Sector: Consumer Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 2
Country: Spain M&A 1 of 6
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-30 Dolz

Almassora, Spain

Dolz is a manufacturer and supplier of water pumps for automobiles and industrial vehicles. Dolz produces more than 3.5 million pumps manufactured between the three plants and is present in more than 70 countries around the world thanks to logistics platforms strategically located to provide excellent service. Dolz was established in 1934 and is based in Almassora, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-01 Litalsa

Oyón, Spain

Litalsa is a lithography and varnishing outsourcing market for metal cans, closures, and other metal products manufacturers. Litalsa was established in 1972 and is based in Oyón, Spain.

Buy -
SELLER

Inversiones Ibersuizas

Madrid, Spain

Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Ibersuizas is a private equity firm focused on investments in Spain and Portugal. The Firm looks for controlling stakes in mid-sized companies valued from €50 to €500 million. Prospective businesses generally lead their markets and exhibit clear growth potential. Ibersuizas' target investment size is €10 to €100 million. Ibersuiza does not have any sector preferences, but avoids investing in financial services, real estate and IT. Ibersuiza was originally formed in 1989. The Firm is based in Madrid.


DEAL STATS #
Overall 2 of 2
Sector: Consumer Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
Country: Spain M&A 2 of 2
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-19 Laboratorios Indas SAU

Madrid, Spain

Indas manufactures adult incontinence products with a smaller focus on producing other hygiene products and dressings.

Sell €285M
SELLER

Portobello Capital

Madrid, Spain

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 2.5B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Portobello Capital is a private equity firm focused on acquiring on acquiring middle-market Spanish companies. Portobello prefers unique investment situations where the Firm can step in. These include broken deals, situations where shareholders are misaligned, or complex transactions. Portobello targets businesses valued from €50 to €500 million where the Firm can invest €10 to €100 million. Portobello Capital does not have any sector preferences although the Firm will not invest in financial services, real estate, or IT. Portobello Capital was formed in 2010 and is based in Madrid.


DEAL STATS #
Overall 2 of 13
Sector: Consumer Services M&A 1 of 2
Type: Add-on Acquisition M&A Deals 2 of 6
Country: Spain M&A 2 of 13
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-19 Laboratorios Indas SAU

Madrid, Spain

Indas manufactures adult incontinence products with a smaller focus on producing other hygiene products and dressings.

Sell €285M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-10 Industrias Alimentarias de Navarra

Villafranca, Spain

Industrias Alimentarias de Navarra (IAN) is a producer and exporter of canned vegetables. IAN processes in its plants a wide range of products that are leaders in their respective segments: table olives, asparagus, ready meals, piquillo peppers, crushed tomato, pizza sauce and tomato sauces, among others. Industrias Alimentarias de Navarra was established in 1875 and is based in Villafranca, Spain.

Buy -