Mercapital, the Spanish private equity firm, has taken a sizeable minority stake in Blinker, an Alicante-based direct distribution company for the automotive and industrial sectors.
The firm, investing from its E600m Mercapital Spanish Private Equity Fund II, has paid E30m for a 49 per cent stake in the business. Luís García-Valdecasas and José Antonio Ferri, the founding shareholders, will continue to run the business and hold the remaining stake.
Mercapital plans to back the company’s growth plans, which include entering new sectors including the facility construction and maintenance sectors, as well as expanding into new markets in Italy, France or Portugal.
As part of the transaction, David Estefanell and Ramón Carné, and Nicolás Jiménez-Ugarte, all partners at Mercapital, will join the Blinker board of directors.
Mercapital manages funds totalling E1bn. Investments from the current fund include a E40m commitment to Spanish textiles firm Grupo Ka and a E37m investment to hygiene products business Jofel. Last year, Mercapital also committed E150m to an expansion plan for Spanish fitness chain Grupo MSC Wellness.