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Friday, May 24, 2024

BM counsels Portobello Capital on stake acquisition in Arenit

Baker McKenzie advises Portobello Capital on the acquisition of 27% of Arenit, an industrial holding company in Germany

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Baker McKenzie’s Corporate M&A team has advised Portobello on its first direct investment in Germany: the acquisition of 27% of an industrial holding company dedicated to acquiring and developing B2B and high-value-added industrial companies within the German Mittelstand

Following two deals in Italy – Poligof in 2020 and Farmol in 2021 – and a long track record of investing in add-ons for portfolio companies in more than 25 countries worldwide, Portobello has made its first direct investment in Germany.

The holding company acquires stable, cash-generative, proprietary technology businesses at attractive valuations while maintaining a conservative level of debt and reinvesting the cash flows generated by the acquired companies in new acquisitions for further growth.

Portobello’s investment has been made through a capital increase that will allow it to finance new acquisitions and enhance the growth of the business in the coming years.  This is Portobello Structured Partnerships Fund I’s fifth investment, following AGQ Labs, Condis Supermercats, Torre Oria and the recent investment in Eurocebollas, demonstrating the high demand in the market for minority and/or structured capital.

The Baker McKenzie multi-jurisdictional team was led by Luis Casals and Modesto Puerta from the Madrid office and Thomas Gilles and Markus Mörtel from Frankfurt.

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