The investment firm GPF Capital has completed the acquisition from Corpfin Capital of a majority stake in Acuntia, an information technology company specialised in the integration of telecommunications networks. Another part of the capital will remain in the hands of the company’s main executives.

Founded in 1991, Acuntia is headquartered in Madrid and has six branches across Spain. The group designs, implements, maintains and monitors telecommunications networks for more than 300 clients, including a large number of companies listed on the IBEX.

The company closed 2014 with revenues of €69 million and expects growth of 20% for 2015, which will take sales above €83 million and operating profit (EBITDA) to €8 million.

The group’s management is headed by José Manuel Sánchez as CEO, Emilio Cabañas (General Manager) and Anabel López (Head of Finance). With a workforce of 270 professionals, Acuntia has plans to strengthen its growth in the large clients segment.

It is the second investment for the GPF Capital group in Spain

For GPF Capital, this is its second investment in Spain. Its first investment took place before the summer, with an €8 million capital injection into Quesería Ibérica, manufacturer of Santé cheeses, located in Palencia. GPF was founded by four young entrepreneurs: Guillermo Castellanos, Lorenzo Martínez de Albornoz, Ignacio Olascoaga and Martín Rodríguez-Fraile. The group currently manages a fund of more than €100 million backed by private investors from Spain and 11 countries in Latin America.

Uría Menéndez has advised GPF and the law firm Alemany has worked for Corpfin Capital.

It operates in the so-called Spanish mid-market segment, investing between €10 million and €20 million of capital per transaction, supporting top management teams in companies with clear growth opportunities.

Corpfin Capitalis an independent private equity firm with more than 25 years of experience in the Spanish market. It currently manages funds amounting to more than €450 million. The group acquired Acuntia from Telindus Group (Belgacom) in June 2011.

Legal advisors to the transaction

GPF Capital received legal advice from Uría Menéndez. Corpfin Capital received financial advice from Arcano and legal advice from Alemany, Escalona & De Fuentes.

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Corpfin Capital y Acuntia – Capital-riesgo.es