GED, a Private Equity group operating in the middle market segment, has successfully completed the third investment of its Private Equity fund (GED V España FCR) after acquiring 67% of Cubers Premium. The remaining capital will be controlled by the founder of the company.
The company is located in Gijón (Asturias) and was founded in 2001. It supplies more than 5,000 customers in the hospitality industry, 350 service stations, nearly 500 supermarkets and various wholesalers. It has factories in Gijón and Valencia (following a recent investment) and has a manufacturing capacity of 120 tons per day. Cubers Premium, which operates under the Cubers brand, offers large supermarkets and hospitality sector customers a product that is differentiated by size and type of consumption.
Rafael López, GED Partner and Félix Guerrero, GED Vice President, who are the persons responsible for leading the operation, state: "Cubers Premium is an investment with a significant potential for development which meets our criteria and the objectives for this fund: the construction of a build-up project within the ice cube industry with presence in international markets. The consolidation of companies in the sector which are geographically complementary will enable the creation of economies of scale and facilitate logistical optimization. We are engaged in a very exciting growth project".
National and international growth
The objective of GED with its investment in Cubers Premium is to conduct a build- up operation within the ice cube industry to create a leading operator with an international presence. At present, the market in Spain is highly fragmented and grows at a rate of 10% a year. In addition, our country is the main producer and consumer of ice cubes in Europe, with an average per capita consumption of between 400 and 500 industrial ice cubes a year.
At the international level, GED plans to invest in Europe where the sector is less mature than it is in Spain. At present, the group exports its product to several countries in central Europe.
With this new investment, GED reaffirms its commitment to invest in industrial and regional companies (the first investment of the GED V España FCR fund was in Discefa in June 2016, which is the largest group specialized in the processing and distribution of high quality frozen octopus of Galician origin; and the second was in Araven last week, a company who has its headquarters in Zaragoza and is a leader in the design, manufacture and commercialization of products for the food service industry and retail equipment sector).
The entity expects to make between 8 and 10 investments in total with this vehicle. The type of operations that will be carried out will be "buy-outs" and capital expansion. With this fund, the volume of assets managed by GED is around €700 M, which consolidates this private equity group as one of the leaders in the Spanish low mid-market segment.
About GED (www.gedcapital.com)
GED is an independent Private Equity management company founded in 1996. It currently manages some €700 M through different Private Equity, Infrastructure and Real Estate vehicles between the Iberian Peninsula and South Eastern Europe and has a portfolio of 36 holdings. GED has a universe of more than 50 domestic and foreign investors, including mainly pension funds, funds of funds, insurance companies, family offices and financial institutions.
Operation Advisors: Buyer GED: EY (DD and Legal)
cloud technology axon
THE WISE SEEKER S.L.es una start-up fundada en 2018 por profesionales ...
