The deal incorporates drives the consolidation in the property management sector.SECTOR
Corpfin Capital has reached an agreement to acquire a majority stake in Mediterráneo Global, one of the leading residential property management companies in Spain, with the aim of accelerating its growth.
Carlos Felipe Cabeza, current CEO, will maintain his shareholding and will continue to lead the company together with the rest of the management team, with strategic, operational and financial support from Corpfin Capital.
Founded by Caja de Ahorros del Mediterráneo in 1964, Mediterráneo is a company based in Alicante whose main activity is the administration of residential properties, with 27 offices throughout Spain, from which it provides services to more than 5,000 communities.
Alberto Curto, Managing Partner of Corpfin Capital highlighted that “Mediterráneo is the ideal platform to promote the consolidation and professionalisation of a highly fragmented sector, with more than 15,000 registered property administrators managing close to one million homeowners’ associations in Spain. We look forward to partnering with Mediterráneo’s management team to accelerate its growth.”
Corpfin Capital was advised by Pérez-Llorca with a Corporate team formed by partner Alfredo Lafita, together with lawyers Nicolás Zúñiga, Ignacio Carnero and Gabriela Ruiz-Gallardón.
Mediterraneo Global was advised by Garrigues, with an Alicante office team made up of partners Ramón Jareño (Corporate) and Juan Antonio Pacheco (Tax), counsel Jaime Escrivá (Tax), and senior associates Karime Rodríguez (Corporate) and Luís Bañó (Tax).