Spanish fund looking to buy & build

Qualitas Equity Partners has reached the halfway mark of a E60m fund it will invest in expanding Spanish businesses.

Qualitas Equity Partners, a Spanish private equity firm, has secured more than E30m for the first closing of its Qualitas Fund I, which is expected to reach its E60m final closing within 12 months.

The fund will invest between E2m and E12m in privately owned companies in Spain. The preferred strategy is buy and build to help businesses expand their operations in and beyond Spain, said Iñigo Olaguibel, a partner at the group. Investee companies must have a minimum turnover of around E4m, he added.

Olaguibel set up the business alongside Eric Halverson and Thomas Utzmeier. The trio have garnered their private equity experience from working for a number of companies including McKinsey, Santander Central Hispano, UBS Warburg and UBS Capital.

Timón, a major shareholder of Grupo Prisa, is the primary investor in the fund.