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Sunday, March 24, 2024

HSF advises Abac Capital on BTSA acquisition

Herbert Smith Freehills has advised Abac Capital on the acquisition, through an investment vehicle, of a majority stake in leading manufacturer of natural antioxidants BTSA Biotecnologías Aplicadas and its US subsidiary

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Private equity fund Abac Sustainable Value II FCR has acquired a majority interest in BTSA with the goal to continue driving growth within the attractive natural antioxidants
market.

BTSA, founded in 1994 by Ana Ugidos, develops and produces natural ingredients with a strategic focus on natural antioxidants and vitamin E. The company serves a wide range of segments, including the food, cosmetics, nutraceutical and animal feed sectors. With sales in more than 50 countries, BTSA has a new factory located in Alcalá de Henares (Madrid) and sales offices in Chicago (US).

As part of its sustainability strategy, BTSA is in the process of attaining B Corp certification and already boasts Ecocert, Non-GMO and EcoVadis certifications. Thanks to its strong R&D, BTSA has earned the European organic certification, allowing it to sell the world’s first tocopherol-based organic antioxidant.

The transaction marries the extensive and successful track record of the company’s founder, who will stay on as a shareholder with a significant interest, and the deep expertise of the partners of Abac Capital Manager, SGEIC, S.A.U. Abac Capital is the only mid-market asset manager in Spain with the B Corp sustainability certification. The rationale for its investment in BTSA is to provide the company with the resources needed at the strategic, operational and financial levels to accelerate the growth strategy that has yielded such successful results in recent years.

HSF´s team included partner Nicolás Martín, senior associate Carmen Jara, associate Ignacio Segura, and junior associates Alejandro Grima Margarit, Carmen Muñoz Miranda and Cristina Diez de Rivera.

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