DC Advisory acted as exclusive financial advisor to Nazca on its sale of Fritta to Investcorp

Background

• Based in Onda, Spain, Fritta produces and commercialises intermediate products for the tile industry, including frits, glazes, colours and digital inks
• Fritta operates globally from two frits manufacturing plants in Spain and Vietnam and two glaze mixing units in Italy and Mexico. Fritta employs c.300 people and its products are sold to c.200 customers worldwide

Process

• DC Advisory (DC) was mandated as exclusive strategic and financial advisor to Nazca Private Equity (Nazca) to conduct the sale process
• DC provided detailed advice on preparing the business for a disposal  
• A tailored pre-emptive process was undertaken, involving a challenging due diligence and negotiation process with a demanding timetable over a 3-month period

Outcome

• Nazca exited Fritta with an excellent return after a 12-month holding period
• The acquisition of Fritta by Investcorp will boost the Company’s international expansion and reinforce its competitive position in the digitalisation of the industry
• Fritta is Investcorp's second investment in the industry, after the acquisition of Esmlaglass-Itaca in July 2012    
• This was the second transaction in the sector advised by DC in the last twelve months, following the strategic advisory to Endeka, demonstrating DC's strong credentials and deep understanding of the industry