The agreement between CVC and LaLiga Impulso led the ranking of private capital operations with a capital injection of 1,994 million to the Spanish competition.
It is precisely this operation that is partly responsible for the fact that the “private equity and venture capital” sector in Spain broke a historic record, closing the first half of the year with 5,580 million euros invested, or 130% more than the 2,429 million reached in the same period of 2021, according to estimates from a Capital & Corporate report.
Figures that demonstrate the attractiveness of Spain and the confidence of investors and in which international private equity managers have once again set the tone by considerably increasing their weight in the volume invested in the Spanish market, which already exceeds 90 % of total.
According to the report, a total of 11 operations –4 more than in 2021– exceed 100 million in resources invested (“equity”), concentrating 61% of the volume invested
Among them, the entry of CVC into LaLiga Impulso stands out, which meant a capital injection of 1,994 million to the Spanish competition, which is at the top of the operation ranking, followed by the acquisition of the Altadia group for more than 1 900 million by Carlyle and Cinven’s reinvestment in Ufinet Latam for over 1,200 million.
They are joined, among others, by Uvesco, Gransolar and Generalife (Ginefiv), all above 400 million euros.
By type of transaction, ‘buyouts’ (leveraged purchases) are in the lead, with 2.613 million invested in 39 transactions, 46.8% of the total invested by ‘private equity’ in the half-year, a figure well above to that of 2021 when they barely exceeded 680 million.
Venture capital is again the protagonist, with 1,638 million euros invested, which represents 29.4% of the total analyzed by Capital&Corporate in 204 operations, with a strong impulse from investment in emerging projects and startups .
For their part, disposals also closed a record semester, with 46 “exits” which reached 11,717 million in “deal value” against 2,980 over the same period of 2021, i.e. 286% more.
At the international level, the report highlights Carlyle, Cinven, HIG and KKR as the most active funds, while Portobello Capital, Miura Partners and Magnun stand out at the national level. By sector, investment in catering, leisure or retail stands out, absent during the pandemic.
Although having broken all records in the first half, since major investments already announced are still pending, such as the takeover of IVI-RMA by KKR, that of ITP Aero by Bain Capital or SNFL by EQT, among others, which indicate Given that in 2022 all records will be exceeded in terms of the number of deals, investments, divestments and fundraisings, the middle market has gradually reduced its activity throughout the period and the sector calls for caution.