GED Capital, a private equity group operating in the lower/mid-market segment in Spain, has successfully closed the acquisition of 100% of Snake and Energy Services. Both companies will be integrated with Cinelux, acquired in 2022, a leader in the provision of lighting services for the national audiovisual industry in the entertainment and fiction segments.
With the integration of Snake and Energy Services, a new corporate group brand “Parasol Media” has been launched, which will bring together the 3 companies of the project. The resulting group is positioned as the leading independent provider of audiovisual technical services in Spain with presence in different business verticals (lighting, video screens and power/electrical generators) and sectors (entertainment, fiction and events).
Snake, founded in 1992, is focused on the rental and assembly of professional video equipment (top quality LED video screens) and lighting, having carried out 132 events throughout 2022. The company has more than 30 years of experience in the sector and has specialized in the corporate segment and in the technical production of local events such as “Gay Pride”, “Hispanidad y 2 de Mayo” and “Premios Talía”. Its founders, Alejandro Sánchez and Carmen Laborda, continue to lead the business within Parasol Media.
Energy Services, founded in 2010 by Manuel Calderón, is the leading national provider of super-soundproof generator rental services for fiction / cinema at European level.
The company has its own bases in Madrid and Barcelona, where it stocks a super-soundproof fleet of truck-built sets and sets built on 4×4 vehicles, ranging in power from 33 to 200kw. This acquisition complements Parasol Media’s existing sustainable electric generator service (under the “Kinogreen” brand), which was created in 2022 after GED’s entry. The combination between KinoGreen and Energy Services will result in a fleet of 175 generators and a hybrid/eco offering that is unique in the national market. Diego Campos, Roberto Campos and Francisco Serrano will continue to lead the business at this stage.
The group resulting from the integration of Cinelux Madrid, Cinelux Barcelona, Cinelux Bizkaia, Kinolux, Kinolux Canarias, Filamento, Snake, Kinogreen and Energy Services (baptized as Parasol Media) has a unique asset park in Spain, consisting mainly of more than 14,000 spotlights, 2,400m2 of LED screens and 175 generators. It is estimated that in 2023 it will reach a workforce of 100 employees and sales of 30 million euros, doubling the turnover since the entry of GED Capital in early 2022.
Enrique Centelles Satrústegui, Managing Partner of GED Private Equity, said: “We believe that the two acquisitions fit with the buy&build strategy that GED pursues in its investments. The addition of Cinelux, Snake and Energy Services will create a unique group in Spain, positioned as one of the main references in Southern Europe”.
David García, CEO of Parasol Media, said: “We are very excited to be able to count on the experience of Snake and Energy Services, which will position the Parasol Media group as the independent company with the largest asset pool for the audiovisual industry in Spain”.
Deal Advisors:
Buyer: Santander Corporate & Investment Bankint (M&A), King&Wood Mallesons (Legal) and Baker Tilly (Due Diligence).
About GED (www.gedcapital.com)
GED is an independent asset manager founded in 1996 that operates in the middle-market segment. It currently manages more than 1 billion euros through different Private Equity, Infrastructure and Venture Capital vehicles.
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.
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