Aurica Search Fund has announced the acquisition of Super’s Diana together with a group of investors from the ‘search fund’ ecosystem. The fund manager has joined forces with the ICF (Institut Català de Finances), Moonbase Capital, Ítaca, Karim Zahran and other investors, who have grouped together in Rigi Capital Partners, the vehicle that has acquired the entire share capital of the company.
With this transaction, Aurica Search Fund I formalises its fifth investment and expects to close the year with 25 million euros of capital deployed in this type of acquisition. The fund manager also strengthens its positioning in the animal health sector, where it already has experience through portfolio companies such as Alfavet, a German company specialising in nutraceuticals for pets.
The investment responds to a business succession process arising from the upcoming retirement of the current owners. Jorge Oriol, founder of Rigi Capital and ‘searcher’ of the operation, will take over the management of the company. With more than 10 years of experience in operations and ‘supply chain’, he began his career at Autoneum, driving industrial standardisation programmes in more than 20 plants worldwide.
The company’s future plan is built around organic and inorganic growth. In this context, Karim Zahran joins the project, an executive with extensive experience in the pharmaceutical sector, who not only comes in as an investor but will also actively participate on the board and lead the inorganic growth strategy.
KPMG has acted as financial advisor to Rigi Capital, while Barrilero and AVQ have been its legal advisors. On the sellers’ side, CS Corporate Advisors has acted as financial advisor and Cases & Lacambra as legal advisor.
This investment forms part of the recent close of Aurica Search Fund I, which reached 50 million euros with oversubscription. It is one of the largest ‘search fund’ vehicles in Europe and the first promoted by a ‘private equity’ manager.