Spanish venture capital company Mercapital has invested E37m in Jofel, a company which manufactures hygiene products.
Jofel manufactures products such as soap dispensers, hand dryers and tissue paper. It has offices in Latin America, Spain, Portugal and France. Jofel employs 600 people and has been operating for more than 20 years. The funding will assist it in its plans to expand into the UK and Germany.
The investment is Mercapital’s second from its Spanish Private Equity Fund II (SPEF II) which closed last month at E600m. The first investment was last month's E82m in Guascor, a Basque waste management and renewable energy company.
SPEF II was launched in May 2000. It had originally been targeted to raise E500m. The investment focus is on industrial and traditional companies. It does not invest in technology companies.