Spanish private equity fund Nazca Capital has entered into a partnership with BIM-based engineering services company IDP.
Under the terms of the agreement, IDP shareholders will “rely on Nazca’s expertise in developing organic and inorganic growth projects to take advantage of relevant opportunities in the engineering sector, and to enhance the development of its digital services”.
Nazca will become a majority shareholder in IDP.
IDP, founded more than 20 years ago, is a company specialized in providing engineering services based on BIM methodology. The company has extensive experience in the industrial, logistic, non-residential construction, retail, environmental, and infrastructure sectors.
IDP has offices in Spain and Latin America and had sales of €11 million in 2019.
In this new phase, IDP plans to “accelerate its organic and inorganic business plan taking advantage of its leading position in the BIM niche, its innovative portfolio services, and the growing trend towards digitalization”.
Carlos Carbó, CEO of Nazca Capital said:“IDP is an innovative and pioneering company in the application of the BIM methodology to the engineering sector and the development of digitization services, a high growth niche market. This is the second investment of Nazca´s Fund V and we are very excited to have partnered with a top-tier team. Together we will address an ambitious growth plan providing our 20-year experience investing in SMEs in Spain.”
Enric Blasco, current shareholder and CEO of IDP, states that “Nazca’s entry into the shareholding gives a strong boost to our strategic growth plan. Partnering with a fund like Nazca will bring proven experience and a successful strategic, operational and financial vision, improving the company´s organization, processes and operations”.
PWC and Pérez Llorca have advised Nazca on this transaction and Socios Financieros and Argali have been the sellers´ advisors.
Nazca specializes in the Spanish mid-market.. Since 2001 Nazca has invested the entirety of its funds I, II and III with a respective size of €100 million, €150 million and €230 million, having accomplished 70 transactions: 31 direct investments in companies, 19 additional acquisitions through participated companies and 20 divestments.
Nazca currently manages Nazca Fund IV with a total commitment of €275 million and Nazca Fund V with €150 million for investments in smaller SMEs, both funds sponsored largely by international institutional investors.
Nazca’s portfolio includes ten companies (in addition to IDP): FoodBox (retail food), Distribuciones Juan Luna (food processing), Caiba (PET packaging), McBath (cast marble shower trays), Phibo (dental implantology and prostheses), Herbex (fresh aromatic herbs), Terratest (geotechnical and tunneling solutions), Diater (biopharmaceutical), Cinelux (lighting equipment rental) and One Shot Hotels (urban lifestyle hotels).
Nazca has divested from: Svenson, Rodilla, Dibaq, Unipost, Vinartis, Lizarrán, El Derecho, Guzmán, Acens, Hedonai, Elogos, Fritta, Autor, IMOncology, Logifrío, Agromillora, El Granero Integral, Eurekakids, Gestair and Grupo OM.