Magnum Capital is reportedly looking to acquire Iberchem, a Spanish company that provides oils and fragrances for perfumes and chemical products. 

A major part of Iberchem’s appeal for the private equity firm is its presence across Asia, the Middle East and Latin America, and the growth profile of the industry. According to Spanish newspaper Expansion, the company, which was founded in 1985, could be worth up to €80m. Expansion reported that in 2011 the company generated revenues of €51.2m. 

Inaki Echave recently left Magnum, where he was a partner, to join Blackstone, which is looking to increase its exposure to the Iberian market.