Private equity funds managed by Abac Capital Manager SGEIC, S.A. (‘Abac’) have acquired a majority stake in Recalvi Parts, S.L. (‘Recalvi’). With this transaction, Abac aims to support the strategic development of the group, accelerating its inorganic growth and consolidating its leading position in the automotive aftermarket.
Founded in 1984 and headquartered in Vigo, the Recalvi group has established itself as the leading independent distributor of automotive spare parts in Spain. In recent years, it has expanded its network of sales outlets throughout Spain, reaching more than 50 establishments and a combined turnover of 120 million euros.
Abac, the only Spanish mid-market asset manager certified as a B Corp, specialises in investments that generate sustainable value. Through this transaction, Abac will provide Recalvi with the strategic, operational and financial resources necessary to consolidate its leadership in Iberia and continue its successful track record. José María Rodríguez, Recalvi's founder, will maintain a significant stake in the company and will assume the position of Chairman of the group, ensuring the continuity of its business vision.
José María Rodríguez stated that ‘the entry of Abac is a milestone for Recalvi’ and considers that ‘Abac's knowledge of the sector, both in Spain and in Europe, will provide us, in addition to financial resources to continue on this path of growth, with its know-how in matters related to logistics and management, which will allow us to be even more agile, competitive and, in short, stronger’.
For his part, Oriol Pinya, founding partner of Abac Capital, emphasised that ‘Recalvi is an indisputable benchmark in the automotive aftermarket, widely recognised by professionals in the sector for its extensive range of products and the excellence of its service. At Abac, we are excited to return to the aftermarket after our successful investment in Metalcaucho and to have the opportunity to drive an ambitious project focused on strategic expansion through acquisitions and the consolidation of an industry in full transformation. This approach will not only allow us to make a positive impact, but also further strengthen one of the longest established groups in the sector’.
The transaction is the sixth investment of the second mid-market fund managed by Abac, exemplifying its strategy of investing in solid companies with growth potential, benefiting from a local investor with global vision, sector expertise and a focus on sustainability and digital and operational transformation.
In this transaction, Abac has been advised by EY (legal) and KPMG (due diligence). The sellers were advised by Solventis (M&A) and Maio Legal (legal).
About Abac Capital
Abac Capital is a private equity fund manager with institutional investors from Europe, the United States and the Asia-Pacific region that invests in mid-sized Spanish companies with international potential. The Abac team, led by Oriol Pinya, Borja Martínez de la Rosa and Federico Conchillo, has over 100 years of experience in private equity, with a track record covering a wide range of sectors, countries, stages of development and both equity and debt instruments. Abac Capital is a B Corp certified entity, proof of its commitment to sustainability.
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