Barcelona-based mergers and acquisitions firm Closa Capital has expanded its range of services and strengthened its positioning in corporate finance through an integration agreement with Focus Partners. The latter, also based in Barcelona, specialises in alternative and complementary financing solutions for SMEs.
Closa, founded and led by Josep Maria Romances, will acquire 75% of Focus Partners, while Josep Castellà, founding partner of Focus, will retain the remaining 25%. At the same time, Castellà has taken a 5% stake in Closa, with the aim of increasing it to 25% over the next five years.
Synergies and joint growth
This alliance, which is formalised after three years of collaboration between the two firms, will allow Focus to take on larger operations, according to Castellà. ‘Thanks to Closa we will have access to a market that we did not reach before’, he points out. For his part, Romances stresses that the union allows us to offer solutions that complement the traditional operations of buying and selling companies.
Castellà focuses on the growing potential of the non-bank corporate finance market, which encompasses instruments such as debt, equity and hybrid formulas. Currently, this type of financing represents only 15% of the total in Spain, a figure that, in his opinion, has ample room for growth, although he acknowledges that these resources tend to have a somewhat higher cost.
For this new phase, the joint strategy will focus on unlisted companies with a minimum EBITDA of two million euros, according to Romances.
The financial resources for these operations come mainly from funds based in Central Europe, the United Kingdom, the United States and Latin America, adds Castellà.
Closa, with offices in Barcelona and Madrid, recorded a turnover of 8.4 million euros last year, compared to 1.2 million euros at Focus. Together, the two firms have a team of 19 professionals.
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