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Friday, May 17, 2024

HSF steers Magnun Capital´s acquisition of SunMedia

Herbert Smith Freehills has advised Magnum Capital Industrial Partners on the acquisition of a stake in SunMedia, one of the largest AdTech companies in Spain

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The investment fund Magnum Capital, directed by Ángel Corcóstegui, has taken a stake in the capital of the digital advertising company SunMedia to promote its internationalization.

SunMedia is an ‘AdTech’ focused on video, native and ‘performance’ advertising that has a workforce of more than 190 employees spread over ten locations, including two in Spain and another eight between Latin America, the United States and Sweden, according to a statement.

SunMedia’s CEO, Fernando García, will continue with his team in the company. This has ensured that it is “a unique opportunity” to expand the company.

For his part, Alberto Bermejo, partner of Magnum, highlighted the growth of the firm. The fund announced at the beginning of the week the sale of its stake in Aire Networks in an operation valued at around €600 million.

HSF advised Magnun Capital with a team formed by partners Nicolás Martín, Pablo García-Nieto Nubiola and Armando Garcia-Mendoza McCrory, of counsel Marta Esteban, and lawyers Paula Pérez-Ardá Precioso, Mercedes Olmos, Carmen Muñoz Miranda, Carmen Jara and Jose María Faz Albert.

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