Corpfin Capital invests in Secna
Clearwater International has advised Corpfin on a 51% equity investment in Eurogamma SpA group, whose main subsidiary is the Spanish company Secna.
Valencia-based Secna specialises in the manufacture of natural colours for the food & beverage industry, particularly the production of red and dark tones produced from raw materials such as grapes, black carrot and caramel. The production of natural ingredients for the food & beverage industry is a developing market fuelled by growing consumer awareness and increasingly strict regulation globally regarding the inclusion of flavours and synthetic colours in foods. Eurogamma also has other operating subsidiaries and production facilities in Italy and Turkey. In 2014, the group achieved consolidated sales of over €50m and is present in over 70 countries.
The investment, the fourth by Corpfin Capital Fund IV, will allow the group to strengthen its sales team and increase the global presence of its products. This has already begun with a new production facility having just opened in Chiva (Valencia); the investment of over €20m will double Secna’s production capacity, improve efficiency and develop new products.
The management buy-out has been completed with the company shareholders who will lead the management team.