Clearwater International advises Nazca Capital on its acquisition of Doga

Clearwater International has advised Nazca Capital (Nazca), the private equity fund manager, on the acquisition of Doga, the high value-added windshield wiper solutions provider, together with the company´s management team.

Founded in 1958 in Barcelona, Doga specialise in windshield wiper solutions for large vehicles, such as excavators, tractors, buses, trains, and trucks, for which the company designs and manufactures both electric motors and wiper arms. Doga is the world leader in this sector, with an estimated market share of over 40%. More than 95% of its sales originate from outside Spain, the US being its main market. With more than 1,000 employees and sales in over 80 countries, the company operates production plants in Spain, Italy, Morocco, and China, and has a commercial presence in the US, Brazil, India, and Mexico.

Nazca is a Spanish private equity firm, specialising in mid-market investments in Spain. With an average investment of €20 – 70m, their focus is on companies with enterprise values between €50 – 200m, targeting market leaders with plans to expand internationally.