NAZCA CAPITAL –a Spanish private equity firm focused in the mid-market segment– has acquired a 55% stake in the Spanish multinational PHIBO. This majority stake has been reached after the purchase of shares and the closing of a capital increase that has surpassed €12 million and that has been fully subscribed by NAZCA and PHIBO’s management team. The García Sabán family, owners of the company to date, maintain a 40% stake and will continue to form part of the Board of Directors of the Group.
PHIBO, founded in 1986, is the leading Spanish company in implantology solutions, CAD-CAM prosthesis manufacturing and integral solutions for the complete digitalization of the dental sector. The company sells its products in more than 25 countries and employs 275 professionals in two factories, one in Sentmenat del Vallés (Barcelona, Spain) and the other in Bogotá (Colombia). PHIBO has a broad international presence, with its main markets being Southern Europe, Mexico, Colombia and Chile. PHIBO has always been characterized by its innovative focus, with R&D as one of the key pillars of its strategy, which has placed the company at the sector’s technological forefront. In 2017, PHIBO sales were €32.5 million euros and reached an EBITDA of €6.2 million.
Carlos Carbó from NAZCA commented “what has attracted us most about Phibo is its interest in innovation, which has led the company to position itself as a leader in its market and a benchmark in the industry. With our entry into Phibo we want the company to continue to successfully face its R&D policy and thus boost its growth. Phibo has top-notch executives and an extraordinary team of professionals that, together with its advanced technology, makes Phibo a unique company throughout Europe “.
Juan Carlos García Sabán emphasizes that with the entry of NAZCA “the continuity of our strategy is ensured. We chose Nazca because we have a similar philosophy and we are in full alignment. Nazca also has a great reputation and we really liked its interest in our innovation processes, which is precisely what Phibo emphasizes “.
Nacho Mestre, PHIBO’s CEO, has said “for the human team that make up the Phibo family it is a pleasure to welcome Nazca. With its entry, the company will be granted financial muscle to be able to face the challenges that place us as a reference in digital dentistry “.
Deloitte, Garrigues and PWC have advised NAZCA in this deal and KPMG and Baker & Mckenzie, the sellers.
