Wednesday, March 29, 2023

Garrigues, HSF advise on SAPA´s acquisition of Quarza´s Hispamoldes

Garrigues has advised Italy´s SAPA Group on its acquisition of a majority stake in Orense-based Grupo Hispamoldes, a portfolio company of Quarza


SAPA Group takes a majority stake in Quarza’s portfolio company, Grupo Hispamoldes, to be renamed Grupo Indea

Cristian Abelló’s investment vehicle and Italy’s SAPA are joining forces to create a leading European supplier of sustainable mobility parts.

SAPA Group, one of Europe’s leading makers of specialist next-generation parts for the sustainable mobility industry, has taken a majority interest in Grupo Hispamoldes, a Quarza’s portfolio company, the investment vehicle created by Cristian Abelló in 2019, which will stay on as one of Hispamoldes’ shareholders.

The integration of Hispamoldes into SAPA, with the goal of creating a leading supplier in the European sustainable mobility industry, will give rise to Grupo Indea, through which it will be able to further its consolidation and expansion plans, reinforcing and increasing its business volumes, expanding its geographic reach and diversifying its customer portfolio.

“In addition to implying our entry into the Spanish and Moroccan markets, this acquisition is highly complementary as it will bring us access to new production technologies that will reinforce and broaden the scope of our ONE-SHOT® method, a patented system capable of combining all of the steps needed to produce automotive parts into just one, so constituting a more sustainable, agile and economic alternative”, said Giovanni Affinita, CEO of SAPA Spain and Executive Board Member of SAPA SpA.

For Quarza, which made its investment in 2019, “this transaction marks a significant step forward for Hispamoldes, now Indea, as it will provide a lever for accelerating its growth and expanding its reach; solidifying its competitive position by giving it new multilevel capabilities; and aligning with our customers strategies and needs, reinforcing its solvency as a manufacturer of technical plastic parts”, said Cristian Abelló, President of Quarza Inversiones.

Hispamoldes, headquartered in Orense, is a benchmark player in the Spanish thermoplastic injection moulding segment and in the manufacture of injection moulds and tools. It has over 350 employees divided across its four productive facilities (three in Spain and one in Morocco) and it generates around €38 million of revenue. Within the automotive industry, Hispamoldes’ customer roster includes players of the calibre of the VW Group, Plastic Omnium, the Samvardhana Motherson Group and Kostal.

Integration of Hispamoldes into SAPA’s organisational structure will not imply any changes in management teams.

Quarza was advised by Herbert Smith Freehills (legal), while SAPA used the services of Socios Financieros Corporate Finance (M&A), Garrigues (legal) and EY (financial due diligence), all of which coordinated by Gianluca Henny, M&A director at SAPA Group.

HSF advised Quarza with a team led by partner Alberto Frasquet.

Garrigues advised SAPA with a team including partner Carla Frangoni and principal associate Carlos Lasa.

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