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Vista and Portobello sell Laboratorios Indas to Domtar for over 400 million

2011/09/12

Vista, the Spanish private equity company owned by Santander, and Portobello Capital have agreed on Tuesday the sale of Laboratorios Indas to the North American company Domtar Corporation. The equity value stands on 285 million euro, which including the debt brings the value of the transaction to over 400 million euro, according to the press release distributed by both companies.

Vista, Indas’ majority stakeholder, controls a 73.2% of the company, which was acquired on March 2007. Portobello Capital holds a 21.8%. The remaining shares are held by ICG (2.6%) and the management team, who controls the remaining 2.4%

Laboratorios Indas designs, manufactures and distributes a wide range of sanitary and hygienic products, among the pharmaceutical, hospital and retail sectors.

With 50 years presence in the local market, the recent acquisition of Albasa has consolidated its leading position in the Spanish market. The company initiated its internationalization in 2010 and its products are exported to 36 countries in four continents, where it sells already 15% of its production. Its turnover has grown from €120 million in 2008 to €200 million expected in 2013.

Domtar is a manufacturer and distributor of fiber-based products, listed in the New York and Toronto Stock Exchanges.

Javier Martin, CEO of Laboratorios Indas, feels that the acquisition of the company by Domtar “is good news for our clients and employees. Its strategic view, its clear commitment for the Personal Care business and its vocation for a long term presence in the company’s equity, will allow us to access the necessary resources to speed our future growth plans up successfully”.

PORTOBELLO CAPITAL

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