We take a look at the largest financing rounds that have taken place in recent years in the European chemical industry. In addition, we analyse the acquisition of GRIT by private equity firm Moira Capital.
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About Moira Capital
Moira Capital Partners is the first venture capital boutique in Spain specialising in high return direct investments for private and institutional investors. The venture capital firm leads investments of up to €100M of capital, under a differential approach with respect to traditional venture capital, which allows it to access unique and exclusive investment opportunities.
The partners of Moira Capital Partners have more than 35 years of experience in the Iberian and Latin American private equity market, with a total of more than 100 deals completed. Moira's management team has invested more than €2,000M in equity and more than €1,500M in debt.
About GRIT
Gases, Research, Innovation and Technology (GRIT)is a leading company in the Iberian Peninsula in the field of liquefied special gases and low boiling point liquids. The company operates in sectors such as aerosols, refrigerants, blowing agents and other special gases with high added value.
Founded in 2001 by Ramón Terrado, one of the most experienced and recognised executives in this sector in Europe, GRIT has become a benchmark player in the sectors in which it operates.
GRIT has a 6,800m² plant.2 This is the only one of its kind on the Iberian Peninsula, strategically located 70 km from Barcelona to serve the European market. This plant is authorised to store, handle and mix liquefied and flammable gases at high pressure.
The company, which exports 35% of its production, closed last year with a turnover of more than €30M. GRIT has a customer base of more than 70 customers and distributors.
Moira Capital acquires 65% from GRIT
Moira Capital Partners, an investment firm led by Javier Loizaga, has acquired the 65% of the GRIT group, specialised in the manufacture of liquefied special gases and low boiling point liquids, for €20M. The new Business Plan that Moira will promote aims to multiply the group's turnover by four times in the next five years, up to €120M.
This is the third transaction undertaken in less than a year by Moira Capital, which debuted with its entry in the technological leader in food freezing Nice Fruit. The firm chaired by Javier Loizaga invested €35M in the group, which has developed a revolutionary physical treatment to freeze any organic matter without breaking its molecular structure.
Moira Capital also entered Pedro Jaén, Spain's leading dermatology clinic, just a month ago with an investment that will allow it to build a new clinical centre. Moira Capital and the Pedro Jaén team want to expand the group's successful model to the rest of Spain and Latin America.
CORPORATE FINANCE EXPERTS
Latest investment rounds in the Chemical Industry in Europe
| Variable | 2017 | 2016 | 2015 |
|---|---|---|---|
| Invoicing | 34.850 | 32.882 | 31.047 |
| Ebitda | 5.142 | 4.810 | 4.500 |
| Net Financial Debt | 12.979 | 12.419 | 11.555 |
| Investment | 214 | 201 | 47 |
| Growth | 7,33% | 4,77% | 1,29% |
| Profitability | 15% | 15% | 14% |
| Solvency | 2,52 | 2,58 | 2,57 |
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