GED Capital acquires plastic products manufacturer Araven

Spanish private equity firm GED Capital has acquired a 90 per cent stake in Araven from Spanish savings bank Ibercaja and regional private equity firm Going Investment.

As part of the deal direct lender Oquendo Capital, which provided mezzanine debt for the transaction, will retain a minority stake in the company.

Founded in 1976 by two entrepreneurs, Araven manufactures plastic products for households and the foodservice industry, as well as baskets and shopping carts for retailers.

With its headquarters in Zaragoza, the company has an additional factory in Mexico and a distributor in the US.

In 2016 Araven had revenues of €22.3m, of which 72 per cent were generated outside Spain.

The company exports to 70 countries in the five continents. GED’s intends to continue growing Araven’s international presence.

Sophomore deal

This is the second deal from GED’s latest fund following the acquisition of Discefa, a Spanish distributor of frozen octopus.

The mid-market firm launched its GED V Spain fund in April 2015 and hit a first close of €80m in November. Investors in the fund include Spanish State-owned institutions SEPIDES, ENISA and Fond-ICO Global, as well as family offices with an industrial background.

GED hopes to reach a final close of €150m in H1 2017.

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