Miura Private Equity has acquired SOR Ibérica together with the company's management team via a management buyout (MBO). The company was previously owned by a group of families from Valencia's region. The terms of the transaction are confidential.
Founded in 1970 in Alzira (Valencia), SOR Ibérica is the leading company in the design and manufacturing of customized refrigerated semi-trailers, mainly targeted towards distribution and logistics companies. It employs around 250 people and it will reach sales of 50 million euros in 2015.
The market of refrigerated semi-trailers both in Spain, the largest market in Europe with 4.000 new units per year, and in Europe, has enjoyed a long-term sustainable growth. This favourable evolution has been mainly driven by a growing need of fresh food transportation and an increasingly strict regulation in transport conditions of a large number of goods, not only food but also pharmaceutical or electronic, in compliance with European regulation.
SOR is one of the five major manufacturers of refrigerated semi-trailers in Europe, differentiated by its customization capabilities to satisfy the needs of its customers and the high level of quality and reliability of its products.
The management team will continue leading the company and has increased its shareholding position. With Miura's entry, SOR will further consolidate its leadership in Spain and boost its international expansion in European markets where the company has historically had a strong presence such as Italy, the Netherlands, Scandinavia and the UK, and in regions with a high growth potential like Eastern Europe or Northern Africa.
About Miura Private Equity
Miura is a private equity firm based in Barcelona. The firm currently manages two funds with total assets under management of €300 million, and focuses on investing in small and mid-sized companies, with attractive growth or consolidation plans and a clear international angle.
Since 2008, Miura has invested in 21 companies, with a total deal size over €400 million.
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