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Sunday, January 29, 2023
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Vaciero advises Grupo Baldajos on Palacios Total Car Services acquisition

Vaciero has advised Grupo Baldajos, leader in vehicle maintenance, on the acquisition of Palacios Total Car Services, formerly owned by Bridgestone Corporation, the second largest tire manufacturer in the world after Michelin

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This transaction closed on October 3 and with it Grupo Baldajos now manages the operation of six new branches in Galicia (Lugo, Barreiros, Viveiro and Ribadeo, in addition to four in Coruña).

The Group already had workshops in Barcelona, Guipúzcoa, Salamanca, Zaragoza, Madrid and Asturias, and is extending its geographical scope to the northwest of the Iberian Peninsula, offering vehicle repair and care services. The world of “fast” goes beyond food (fast food), fashion (fast fashion) and parcels (fast delivery) and has reached the motor industry, where workshops with competitive prices, a variety of spare parts and a wide range of time slots are competing with dealerships and old-fashioned workshops. Grupo Baldajos is part of this trend, which now has a network of 28 branches.

For the negotiation and closing of the transaction, the Baldajos Group was advised by the multidisciplinary team of VACIERO, led by Corporate/Commercial partner Begoña González and formed by partners Diego Méndez-Láiz (Audit department), Belén Fraga Fernández (Labour department), Ana Espiniella Menéndez (Tax department) and Ricardo San Marcos de la Torre, vice-president and director of the Insolvency and Restructuring department.

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