Private equity firm HIG Capital has opened a Madrid office and appointed Jaime Bergel as a Managing Director to lead its efforts in Spain.
HIG, through its HIG Europe affiliate, currently has a team of over 40 investment professionals based in Europe, operating out of offices in London, Paris, and Hamburg. In 2011, HIG Europe was one of the most active private equity investors in Europe, with eleven completed transactions.
Bergel was previously the founder and CEO of Gala Capital, a Spanish private equity firm he established in 2004, which was named one of the top 3 Spanish funds in 2007. Prior to that, he was a Managing Director and Head of Spain for both Goldman Sachs and Merrill Lynch.
Bergel says: “I am very excited to join the HIG team. HIG is ideally positioned to take advantage of the many opportunities in Spain, given the significant amount of capital at its disposal, its experience in working with companies facing operational and/or financial challenges, including debt restructurings, and its focus on small and midsize companies, which form the backbone of the Spanish economy.”
Bergel also expects HIG to be flexible in its approach in Spain, providing both debt and equity capital and investing in either majority or minority stakes in well positioned Spanish businesses. He also expects HIG to help Spanish companies with international growth and expansion opportunities given its presence in the rest of Europe, as well as the U.S. and Latin America.
Sami Mnaymneh, co-founder and Managing Partner of HIG, says: “I am delighted to welcome Jaime to the firm. Few in the Spain market can match his deep knowledge, investment experience, and professionalism. I believe the market opportunity in Spain is a perfect fit with HIG’s capabilities and, under Jaime’s leadership, we hope to be a very active investor in Spain. There are many attractive businesses in Spain, and despite short term challenges, we have every confidence that in the long run, the Spanish economy will recover and get back on a growth path.”
HIG Europe has already made a number of investments in Spain, including Saprogal and Bodybell.
