Livingstone's Industrial sector team has advised Permasteelisa Group on the sale of its Spanish subsidiary, Permasteelisa España to Mutares SE & Co. Permasteelisa Group is a world leader in architectural envelopes. The final closing will take place in the third quarter of 2021.

Permasteelisa España, based in San Fernando de Henares (Madrid), operates in Spain and Portugal. It is specialized in the design, engineering, project management, manufacture, installation, and after-sales service of architectural envelopes. It has more than 50 years of experience and a team of 80 employees, achieving a turnover of approximately 22 million euros in 2020.

Permasteelisa España has contributed significantly to the construction of the most important skyscrapers in Spain and has become one of the most recognized 'players' in the sector thanks to projects such as Torre Caleido, Torre Espacio, Torre de Cristal, Torre Agbar, Torre Mare Nostrum and Hotel Arts, amongst others.

With this transaction, Mutares, a German private equity fund, specialized in the acquisition of subsidiaries that are no longer core businesses of larger corporations, will integrate Permasteelisa España into Donges Group, strengthening its know-how and technical knowledge, especially in the construction of buildings and facades with unique features.

Klaus Lother, CEO of the Permasteelisa Group, said: “This operation follows the Group’s strategy and supposes another milestone on the Permasteelisa Group strategic path to continue as a leading player in the sector. We worked with Livingstone team during the entire operation and we appreciate their professional approach”.

“It has been a pleasure to work with such a professional team at the Permasteelisa Group and help them focus further their global strategy. We are delighted to have participated in another international transaction and we are sure that Donges Group, and its financial partner Mutares, is the ideal partner for the development of the company in Spain.”, said Jorge Tuñí, partner at Livingstone.

Fuente: Livingstone Partners

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