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Thursday, February 22, 2024

Garrigues, Broseta advise on Nazca´s investment in 226ERS

Garrigues has advised Nazca Capital on its acquisition of a a significant stake in Alcoy (Alicante)-based sports nutrition manufacturer 226ERS, represented by Broseta

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With this deal, the company specialising in nutrition for endurance sports will finance its development and growth in European markets.

226ERS closed 2022 with revenues of more than €7 million, having grown at an annual rate of 50% in recent years. Following the transaction, Jesús Sánchez Bas, CEO and founder, and Ángel Sevillano, CMO and co-owner of the company, will continue to lead the project and maintain their position as majority shareholders.

226ERS was born in 2010 as a brand created by and for lovers of endurance sports. Its name responds to the fact that 226 is the total distance in kilometres of the toughest endurance event in the world, the Ironman triathlon, and those who complete these events are called 226ERS.

“226ERS brings together the ingredients we are looking for with our ‘smallcap’ strategy: a unique company in a high-growth niche, in which our partners share the ambition to develop a high-growth project, including international expansion, strengthening the commercial channel and strengthening the supply chain,” highlighted Nazca Capital partners Carlos Carbó and Celia Pérez-Beato.

Nazca made the investment through its fifth fund, Nazca V, raised in 2019 with €150 million to invest in unlisted family SMEs and smaller Spanish companies.

Garrigues advised Nazca on this deal, while Broseta acted for 226ERS.

Garrigues advised Nazca with a team formed by partner Naiara Bueno, senior associate Aida Pérez and associate Sandra Velaz.

Broseta advised the company with a Commercial team made up of partner Joaquín Giráldez, and lawyers Manuel Monzó, Cristina García Troya, Fred Percival, and a Tax team comprising senior associate Luis Alaix and lawyer Bernardo Gómez.

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