Iberian firm secures second acquisition

Nascent private equity house Miura Private Equity has invested in Proytecsa, a Spanish business that supplies security products like bomb disposal robots and security doors for banks.

Miura Private Equity, a Spanish private equity firm, has completed the second deal from its debut fund. Miura Fund I, a €100 million vehicle investing in Spanish and Portuguese mid-market companies, acquired a 60 percent stake in Proyetcsa. The other 40 percent will remain under the ownership of management.

Huesca, Spain-based Proytecsa manufactures among other things security fences, bomb disposal robots and security doors for financial institutions.

Bomb dispoosal:one of Proytesca's product stable

Financial details for the transaction were not disclosed. The business currently has annual sales of approximately €20 million and a total workforce around 100 employees, according to a statement from Miura.

Miura Private Equity was founded in 2007 by Luis Seguí, formerly a principal at Nazca Private Equity in Madrid, and Juan Leach, a former investment banker at JPMorgan in London and Madrid. Fund I was closed in 2008.

The investment in Proytecsa is the second transaction of Miura Fund I, following an investment in Grupo Atrezzo, a mannequin manufacturer, in October last year.

Miura was advised by law firm Bird and Bird.