HIG Europe acquires interest in Vértice 360 Servicios Audiovisuales
HIG Capital’s European affiliate, HIG Europe, has acquired shares representing 49.99 per cent of the capital of Vértice 360 Servicios Audiovisuales (VSA) – until now fully owned by Vértice 360º – for a total of EUR16m.
The investment has taken place through a capital increase, following which the remaining 50.01 per cent of the company’s capital will continue to be held by Vértice 360º.
VSA provides technical services and equipment for audiovisual production, post-production and advertising, broadcasting television channels and live events. VSA is part of Vértice 360º, one of the main audiovisual groups in the Spanish-speaking market, which has been listed on the Spanish Stock Exchange since December 2007.
Jaime Bergel, managing director of HIG Europe in Spain, says: “We are very pleased with this investment, which makes us a main shareholder in VSA. We look forward to working with Vértice 360º to help VSA continue to develop its business, achieving growth based on solid fundamentals.
“VSA is HIG Capital’s first investment since we opened our Madrid office earlier this year, with the clear objective of investing in leading Spanish businesses. In today’s uncertain market, HIG believes that the Spanish economy offers opportunities, particularly the dynamic, midmarket companies which are set to lead the country’s recovery.”
Manuel García-Durán, executive president and chief executive of Vértice 360º, says: “This transaction reflects Vértice 360º’s strategy to increase its financial capacity in order to advance its operations in the outsourcing and privatisation of state-run TV stations.
“We are delighted to be able to embark upon this new phase at our company alongside HIG Capital, one of the largest, most prestigious funds in the world, which will allow us to better serve our clients, establish new relationships, and further develop our business to its full potential.”
HIG Europe has already undertaken various investments in Spain, such as Núter and Bodybell, and has completed 22 transactions in Europe since the beginning of 2011.
- By Category
- News from other sites
- Special Reports