Grupo Larrumba

Jun 7, 2021

Planet Storyline By Aurica Capital, the venture capital manager founded by Banco Sabadell, begins its journey after the financial institution has sold a majority stake to its management team. And it does so with an investment in the digital financing consultancy Babel. Aurica – which has investments such as Flex or Grupo Larrumba in its portfolio – has taken a minority stake in the capital of the firm that Rafael López Clapés runs as CEO. The objective is to promote both the organic and inorganic growth of a company already present in Spain, Portugal, Morocco, Mexico and the United States through a network of 9 offices and a team of 1,400 professionals. The operation has also provided a window of liquidity to some of its shareholders, which are a group of about 60 partners who have been acquiring shares as they progressed in the company. Babel is a consultancy specialized in advising companies in their digitization process. Its main clients include banking and the insurance sector. But also, since in 2020 it acquired the professional services division in Spain of the German multinational Software AG, it has the Administration as one of its main clients. The company closed 2020 with a turnover of 85 million. Its ebitda is around 9 million euros. Therefore, a valuation of at least 10 times EBITDA raises the value of 100% of the company above 100 million euros. Aurica – currently controlled by the partners Ferran Conti, Ramón Mase and Iván Plaza and where Sabadell retains a minority stake – with this operation completes its third private equity fund, endowed with 200 million and specialized in taking minority stakes in growing companies . It is aimed at the so-called middle market, companies with turnover between 20 and 350 million euros and invests in each of them between 8 and 30 million. The fund only has the capacity to carry out one or two more operations and in Aurica they are already looking to build a new vehicle, once the transaction with Sabadell has been closed. In addition to the mattress manufacturer Flex and the Larrumba restaurant chain, Aurica has also invested with this fund in the manufacturer of components for photovoltaic plants STI Norland, for which it has hired Lazard to explore its sale during the boom of the companies. related to renewable energies. Other companies in its portfolio are the fruit and vegetable producer and marketer Agrosol Export, the company for outsourcing sales forces and point of sale management Winche, the manufacturer and marketer of masterbatch for the cable industry Delta Tecnic and the marketing firm for influencers SamyRoad. .