The management of Nazca Capital S.G.E.C.R, private equity firm, has acquired 70% stake of Fritta in a management buyout transaction, from BNP Paribas Fortis, for an undisclosed consideration.
Nazca Capital is a Spanish based private equity and venture capital firm investing in the range of EUR 20m-30m with an average holding period of 3 to 5 years. It invests in middle size companies generating revenues between €20m-150m.
Fritta is a Spanish manufacturer and distributor of frits, glazes, colors and digital inks for ceramic tile producers.
The founding members of Fritta have agreed to sell 100% of its shares. With this operation, the company sets its priorities on the consolidation of its strong foreign markets in Asia, America and Eastern Europe along with the development of digital technology products. On the other hand, Nazca Capital will hold a majority equity position together with the management team.
Clearwater International advised on purchase of company.