Meridia seals first private equity deal

The Spanish real estate specialist, which is currently in market targeting €125m for its debut private equity fund, has acquired a majority stake in gastronomy business Sosa Ingredients.

Barcelona-based Meridia Capital has made its first private equity investment, acquiring a majority stake in Sosa Ingredients, according to a statement from the firm.

Founded in 1976 and headquartered in Barcelona, Sosa produces and distributes technical food ingredients. Meridia intends to work with Quico Sosa, the company’s chief executive officer, to accelerate the company’s growth both locally and globally.

Real estate specialist Meridia launched its first private equity fund earlier this year targeting €125 million, as reported by Private Equity International.

The fund will seek to make investments of between €15 million and €35 million in growth companies across different sectors with revenues of between €15 million and €100 million.

It is unclear when the firm held a first close on the vehicle. Meridia did not respond to a request for comment at press time.

Meridia will aim to help portfolio companies expand into foreign markets, making them more sustainable and better positioned to continue growing while consolidating their national footprint, the firm said in a statement in March.

Meridia founding partner and chief executive Javier Faus said the investment in Sosa was “special” for the firm as it represented its entry into the Spanish private equity market.

“As an investor we are convinced that we can add value by leveraging a strong and proven platform. Our new private equity division is a step forward for us as fund managers as we believe it will help us consolidate our leading position within the Spanish alternative investments industry.”