Abac Capital and B Lab Spain have joined forces to foster the integration of impact measurement and management tools at the investees of the funds managed by the former.

This project has come to life one year after Abac became the first Spanish middle-market private equity firm to earn B Corp status, awarded by B Lab. The initiative seeks to accelerate the asset manager’s role in transforming the companies in which it invests to contribute to a sustainable economy.

Under the scope of this collaborative initiative, Abac’s investees have received information, training, personalised assistance, and tools, including the B Impact Assessment, an internationally recognised standard that enables organisations to measure and manage their impact along five impact areas: governance, workers, community, customers, and environment. Thanks to these tools developed by B Lab, firms can also analyse how they compare with other companies in their same industry and markets and with enterprises of a similar size. It also helps them devise action plans for implementing improvements applicable to their business strategies.

Having embarked on the project in 2021, the investee of a fund advised by Abac, Motocard, the leading retailer of motorbike gear in Spain, has passed its B Impact Assessment, positioning itself to become a B Corp. Motocard’s success story has been published in a joint case study by B Lab Spain and Abac in order to share the initiative with the broader private equity industry.

In the words of Silvia Bach, CEO of Motocard, “at Motocard, the process of working with the B Impact Assessment tool has transformed the organisation’s culture. Now the entire team views its work through the prisms of sustainability and impact and is coming up with ideas to continue to improve from within. We are very proud to have attained the standards needed to apply to for B Corp certification and are excited to be joining the B Corp community shortly”.

As for the rest of Abac’s investees, all of them have started to implement the tool and one-third of the portfolio has already reached the standard needed to apply for B Corp certification. In order to reach the threshold, they have started to roll out new and more effective sustainability management measures. Throughout that process investees have relied on the support and assistance of sustainability teams at Abac and B Lab Spain, who monitor their progress on a quarterly basis.

“As private equity managers we are in a unique position to spearhead sustainability transformation at our investees. Here at Abac, we are aware of that multiplier effect, and we are working with the businesses in our portfolio to get them to actively manage their impact using benchmark tools such as the B Impact Assessment. This collaboration with B Lab is aligned with our strategic commitment to sustainability as a lever for social, environmental and financial value creation. Our ultimate goal is to champion real change in our companies’ journeys with the purpose of building an equitable, inclusive, and regenerative economic model for people and for our planet”, said Oriol Pinya, founding partner and CEO of Abac Capital.

B Corp certification is provided to companies that stand out for their sustainability efforts having surmounted a stringent assessment and verification process in which companies are required to evidence their best practices and embed their social purpose commitment into their bylaws.

Pablo Sánchez, Executive Director of B Lab Spain, said of the initiative, “we are extremely pleased that a growing number of organisations are using the B Impact Assessment across their business networks. Indeed, we would like to congratulate Abac and single out its commitment and consistency when it comes to using the B Corp standard, not only among its investees but also as an internal management tool, having joined the community of B Corp-certified enterprises in early 2021. With this case study we hope to encourage other investment funds to make use of the B Lab standard in their portfolios”.

B Lab Spain is a non-profit organisation creating standards, policies, and tools for businesses, as well as promoting the B Corp movement in Spain. B Corp certification is considered the most prestigious global standard for assessing and acknowledging the work done by companies with the goal of having a positive impact on the planet and society.

About Abac Capital

Abac Capital is a private equity fund manager made up of institutional investors from Europe, the US and Asia Pacific. It invests in mid-cap Spanish companies with scope for international expansion. The Abac team, led by Oriol Pinya, Borja Martínez de la Rosa and Federico Conchillo, boasts more than 100 years’ experience in the private equity sector and a track record that compasses a broad spectrum of sectors, markets, development phases and types of debt and equity instruments. Abac Capital is B Corp-certified, evidencing its commitment to sustainability. Its investment portfolio currently includes Plating Brap, a leading European player in electrolytic plating for plastic with applications in multiple sectors; Avanza Food, a multi-brand restaurant group; Motocard, the leading Spanish motorbike accessory retailer; Grupo Agroponiente, a leading agricultural firm in southern Europe; Iberfrasa, a manufacturer of personal hygiene and home cleaning products and the leader in the private-label brand segment in Spain; Nuzoa, a veterinary product distributor; and OB Cocinas, a firm devoted to the design and manufacture of kitchen furniture. www.abaccapital.com

About B Lab Spain

B Lab Spain is a non-profit organisation transforming the global economy to benefit all people, communities, and the planet. A leader in economic systems change, the B Lab global network creates standards, policies and tools for business, and certifies companies - known as B Corps - who are leading the transformation to a new economic paradigm. Since its creation in 2014, the Spanish B Corp community has grown to more than 150 B Corps that are striving to have a positive impact, with the support of their more than 10,500 employees. www.bcorpspain.es

Subscribe to Directory
Write an Article

Highlight

Axon moves into Cloud Technology

by Axon Partners Group

cloud technology axon

Indexa Capital Group aumenta sus ingreso...

by Indexa Capital

Indexa Capital Group, sociedad matriz de Indexa Capital AV, Bewater As...

Photos Stream