Independent and owned by its executive partners, private equity focused on the Spanish lower-middle market. We specialise in companies with products or services that are validated by the market, have a sustainable competitive advantage, are led by an engaged team and are executing growth and transformation plans.
We believe that it is at this stage of development of companies that we have the greatest potential to add value, helping to professionalise management and participating in the governing bodies.
Our strategy is hands on, with a portfolio per fund of 6/7 investees, which allows us to dedicate ourselves to the portfolio. This allows us to bring the experience of more than 50 years of the senior team to this phase of the business.
The fund manager's target investment tickets range from 1 to 7 million euros via capital increase or equity loan. We believe that, at these low investment amounts, higher returns can be generated due to the number of opportunities and the smaller number of players in this market.
Alter Capital does not limit its investment scope by sector and invests in all projects where it has a thorough understanding of the value chain and the project
Partners/Directors
• Ángel González Bravo / Partner / a.gonzalez@altercapital.es
• Juan Martínez de Tejada / Partner
• Ángel Hernández Rodríguez-Mancheño / Investment Director/ angel.hernandez@altercapital.es
• Eduardo García-Oliveros / Investment Director / e.garciaoliveros@altercapital.es
Analysts
• Álvaro García de Pesquera Gutiérrez / Analyst / a.garciadepesquera@altercapital.es
• Luis Valdés Navarro / Analyst / l.valdes@altercapital.es
• Norberto del Barrio Núñez / Analyst / norberto.delbarrio@altercapital.es
• José García Romero / Analyst / jose.garcia@altercapital.es
Investment strategy
We invest in companies which:
- Companies with high growth potential
- Differentiated business model
- Proven track record, not in its early stages
- Investments led by a deeply motivated management team
We develop an active role in the management, with the objective of creating value through:
- Corporate governance rules, reporting and strategic definition
- Professionalization and talent recruitment
- Contribute our financial “know how” to obtain financing
- Corporate operations
We analyze each project individually, selecting the best structure to optimize resource allocation
- Capital Increase Operations. Contributing resources to finance organic or inorganic growth through acquisition of other companies in the same industry to gain market shares and derive synergy.
- Purchase Operations. Providing liquidity and continuity to entrepreneurs with succession problems or those wanting to diversify their estate with minority and majority share operations.
- Support operations for a motivated and professionalized management team for the acquisition of a company.
- It is possible to supplement the capital investment with equity loans or subordinate debt.
Vehicles under management
ALTER CAP II SCR
Founded in 2018 and majority owned by an UK fund of funds and Alter Capital itself.
Spanish and Portuguese SMEs.
The main objective is to provide liquidity to the companies shareholders
Multi-sector approach
Cash-in and cash-out operations
Investment ticket between 1.5 and 6 million euros
ALTER CAP ANDALUCÍA FCR
The fund manager is currently seeking and analysing investment opportunities for the fund. The call is public and available for all companies that comply with the following characteristics:
Andalusian SMEs or Spanish companies with a project in Andalusia.
Projects with an innovative angle, either in strategy, business model, in the product or service offered, or in the production or logistics process
Majority and minority shareholdings
Time horizon of between 3 and 8 years
Investment ticket between 1 and 2 million, expandable with the participation of institutional investors with whom we have coinvestment agreements on a pari-passu basis
ALTER CAP III VENTURES FCR
The fund manager is currently seeking and analysing investment opportunities for the fund. The call is public and available for all companies that comply with the following characteristics:
Spain established SMEs
Mainly companies up to 5 years old and growing.
Validated business model with revenues over €1M. Ideal EBITDA between €0.5M – €2M.
Investment time horizon between 5 and 8 years.
Investment tickets between €1 and €5 million.
Infrastructure / Renewables
Alter Capital is managing the late stages of the development and construction of assets, optimising financing structures, with the objective of divesting once the value creation cycle reaches its maximum and it is an attractive asset for lower cost of capital investors seeking sustainable investments with long-term cash generation visibility, premium yield over liquid assets and support for energy transition and ESG requirements.
The key of Alter Capital’s success lies in its team of professionals
The team is formed by professionals with more than 40 years of accumulated experience and who have completed more than 38 Private Equity transactions
This experience allows us to understand the challenges and threats faced by the companies in which we invest, designing transactions that are suitable for both parties and capable of attracting talent.
Our current investment portfolio includes the companies that can be seen on this link
La Junta de Andalucía y Alter Capital promueven inversiones de más de €33 millones en proyectos empresariales
Alter Capital
Alter Capital selecciona empresas andaluzas para invertir 100 millones hasta 2024
Alter Capital
La empresa sevillana Kampaoh capta cinco millones de euros del fondo Alter Cap Ventures
Alter Capital
Kampaoh capta 14 millones para expandir por Europa su revolución del camping que aúna comodidad y naturaleza
Alter Capital
Alter Capital vende a Asisa el Hospital La Salud de Cádiz
Alter Capital
