Aurica Capital has closed the first acquisition with its European search fund, Aurica Search Funds (ASF). The Spanish manager has purchased the British company CSP, specialized in providing traffic management, security and parking services at events and emblematic sports venues in the United Kingdom. The fund has already managed to close 15 million euros, half of the target capital of 30 million.
ASF has implemented the acquisition through the search fund Norland Equity Partners Acquisition Limited (NEP), led by Ola Lawal. In the operation, Aurica Capital has invested one million pounds and co-invested with some of its reference partners up to 3.8 million pounds. Thanks to the support and financial backing of ASF, CSP will expand its service coverage in the United Kingdom and Europe, starting with the north of England.
Founded in 1994, CSP provides traffic management, security and surveillance, parking and HVM (Hostile Vehicle Mitigation) solutions to prestigious sporting venues and iconic events, such as Arsenal FC, Chelsea FC, the Wimbledon Championships, the Open Golf or the Epsom Derby.
Ola Lawal will join CSP’s management team bringing 20 years of experience in business management and direction. For its part, the company will also adjust the members of its board of directors to effectively guide and support the company’s planned expansion. The founder will remain on the governing body.
ASF is the first European search fund to be born and coexist within a traditional private equity manager, maintaining the main strategic lines and rigor of Aurica Capital. Its focus is in Europe and, mainly, in the south of the Old Continent (Spain, Italy and France), although it is also open to opportunities in Brazil and Mexico. The firm’s estimate is to incorporate between 15 and 20 companies.
Profitable firms
In the words of Ricardo Velilla, Director of Investments at Aurica Search Funds, the acquisition of CSP “allows us to go further and bet on an ecosystem of high-quality companies with growth potential, both Spanish and international, under the commitment to offer our investors attractive returns under the rigor and good practices that characterize us”. “At ASF we will continue to focus on robust, resilient and profitable companies, with a focus on sectors with tailwinds and that generate a positive impact on society. In them, we will take stakes of between 10% and 15% under a co-investment regime. through the respective search fund, with the intention of becoming a relevant shareholder,” he adds.
2023-11-07 05:04:38
#Aurica #launches #search #fund #purchase #guard #Arsenal #Chelsea #stadiums
