CDI Global advises parallel acquisition to create new Spain personal and home care products leader
Quimi Romar (Realza Capital) and Envasado Xiomara are acquired by GPF Capital
Chicago, USA & Madrid, Spain (September 11, 2019)– CDI Global Spain served as the advisor to Envasado Xiomara in project Omaha, partnering with private equity fund GPF Capital to acquire personal and home care manufacturer Quimi Romar. The integration of the two companies will form the new Spanish leader in aerosols and liquids for personal and home care.
The transaction originated a year ago, when the owners and managers of Envasado Xiomara approached CDI Global Spain to assist in the preparation and funding for the acquisition of Quimi Romar (owned by Realza Capital). While the acquisition would triple their size, the synergies between the two companies and the excellent management track record of Xiomara assured CDI Global of the excellent opportunity for all parties involved. GPF Capital was chosen to provide the equity financing for the acquisitions, as well as a small cash out for Xiomara’s owners.
The auction for Quimi Romar was highly competitive, but a strong team effort between GPF Capital, Xiomara’s management, and CDI Global maneuvered them into a position to outbid competing interest, both industrial and financial. Complementing the funding provided by GPF Capital, Oquendo Capital (a fund that specializes in providing acquisition debt) supported the acquisition with a relevant portion of the financing.
Both companies, which supply their personal hygiene and home care products to large department stores such as El Corte Inglés and Carrefour, total a production capacity of 223 million units and a portfolio of over 2,500 products with facilities stretching 60,000 square meters.
“We could not be more pleased about our role in advising on project Omaha,” said Carmelo Morenas of CDI Global Spain. “The project was very complex; since it meant finding the necessary funds to acquire Quimi Romar (three times our client’s size), it involved the simultaneous acquisition of Envasado Xiomara and Quimi Romar by GPF Capital, while providing sufficient acquisition debt to minimize dilution by our clients. Anticipating Quimi Romar’s sale and preparing well in advance was essential to our success in this transaction. Moving before our competition allowed us to closely analyze the target and select the best partner to enter the bidding process.”
CDI Global’s extensive international network has local team members poised to find the best opportunities in virtually any marketplace. They specialize in cross-border transactions, providing industry insights and on-location expertise and support.
About CDI Global
CDI Global offers financial advisory services focusing on middle-market transactions. The firm specializes in international company search for mergers and acquisitions, divestitures and joint ventures, buy-side and sell-side representation, and due diligence advisory services. They have over 1,000 transactions completed in the past 35+ years covering more than 25 industries. CDI Global was founded in 1973 and is based in Chicago, Illinois with 35 additional offices in Asia, Europe, North America, Oceania, and South America. They are known for the quality of their
international personnel, industry focus, trademark interview process, and in-depth business development expertise. For more information visit https://www.cdiglobal.com.
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