M&A Deal Summary

Portobello Capital, Tensile Capital Management and Headway Capital Partners Acquire Plenergy

On January 15, 2024, private equity firms Portobello Capital, Tensile Capital Management and Headway Capital Partners acquired oil/gas exploration company Plenergy

Acquisition Highlights
  • This is Portobello Capital’s 1st, Tensile Capital Management’s 1st and Headway Capital Partners’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Portobello Capital’s 31st, Tensile Capital Management’s 1st and Headway Capital Partners’ 3rd transaction in Spain.

M&A Deal Summary

Date 2024-01-15
Target Plenergy
Sector Oil/Gas Exploration
Buyer(s) Portobello Capital
Tensile Capital Management
Headway Capital Partners
Deal Type Recapitalization

Target

Plenergy

Madrid, Spain
Plenergy operates low-cost automatic service stations in billing, liters sold, and refueling, concentrating almost half of the new service station openings in last year. The service stations operate with a convenient automatic payment system (payment with credit card or cash at the pump) and fully comply with environmental and safety regulations. Plenergy is based in Madrid, Spain.

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Buyer(S) 3

Buyer

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 34 of 34
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
Country: Spain M&A 31 of 31
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-27 Controlauto

Paço de Arcos, Portugal

Controlauto is a technical vehicle inspection (ITV) operator in Portugal and one of the five largest ITV groups in the Iberian Peninsula. Controlauto was founded in 1993 and is based in Paço de Arcos, Portugal.

Buy -
Buyer
DESCRIPTION

Tensile Capital Management is an investment firm employing an opportunistic value strategy across public and private markets. The Firm makes concentrated, high-conviction investments while also structuring selective private-equity-style, minority investments. Tensile Capital Management was formed in 2012 and is based in Larkspur, California.


DEAL STATS #
Overall 2 of 2
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
Country: Spain M&A 1 of 1
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-01 TPC

Chicago, Illinois, United States

TPC is an operator of a portfolio of small to medium U.S.-based specialised manufacturers offering specialised fabrication, optics experts, and precision machining. TPC is based in Chicago, Illinois.

Buy -
DESCRIPTION

Headway Capital Partners is an investment firm that looks to partner with independent sponsors on a deal?by?deal basis. The Firm invests in the lower middle?market across Europe and North America and looks to commit €15 to €50 million per transaction. Headway Capital Partners was founded in 2004 and is headquartered in London, United Kingdom.


DEAL STATS #
Overall 11 of 14
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
Country: Spain M&A 3 of 3
Year: 2024 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-12 Campany Roofing

West Palm Beach, Florida, United States

Campany Roofing provides roof maintenance, repair, and replacement services for condominium and homeowner associations, commercial properties, and high-end, single-family homes in South Florida. The company specializes in solutions for property owners and managers facing aging infrastructure, stricter insurance requirements, and a desire to minimize disruption to residents and operations. Campany Roofing was founded in 1995 and is based in West Palm Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-23 SCCI

Harlow, United Kingdom

SCCI is an independent provider of design, installation, and maintenance solutions for next-generation networks and related connected devices and systems. Service lines include the provision of In-building networks, fire & life safety services as well as specialist fiber services. Customers range from Social and Private Housing operators, with a particular focus on multi-dwelling units, corporate clients (including leisure & hospitality and healthcare), as well as telcos/alternative network operators. SCCI was founded in 2007 and is based in Harlow, United Kingdom.

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