A group of investors led by Trilantic Europe, a private equity firm focused on mid-market transactions in Europe, has signed an agreement with the Urgell family to acquire a stake in the Pachá Group, a Spanish leisure, hospitality and entertainment operator.
Trilantic Europe, together with a group of co-investors that includes investors in its funds as well as MCH Private Equity and GPF Capital, will acquire a stake from the members of the Urgell family and provide additional resources to finance the company's expansion plan.
As part of the transaction, Ricardo Urgell, the founder of Pachá, will remain as a shareholder of the company.
Shareholders will support the achievements and growth of Pachá over the last 50 years by further strengthening the group’s Ibiza’s operations and also by focusing on the international expansion of the group.
Closing of the transaction is expected to take place within two months, once a number of condition precedents, such as the antitrust approval, have been met. The new board of directors will include representatives of Trilantic Europe as well as international industry experts.
Urgell says: “I want to welcome Trilantic Europe to our home, Pachá. I am very excited about this new phase of our group’s life, where I trust that, together with our new partner, we will undertake projects that will further contribute to the success achieved in the last 50 years.”
Trilantic Europe says: “It is an honour that Ricardo Urgell has opened Pachá's doors to us. We look forward to working together with him and the rest of the team on the very exciting future of the company.”
