It was known with a difference of only a few days that three big companies your province has changed or is about to change change hands. purchase last Monday Jury Coffee It was announced by Pascual Group this Thursday that it has finalized the acquisition of the childcare products maker of two French multinationals, Peek a Boo and Edilians. suavinex and tile manufacturer eskandella, respectively.
And they’re just the latest on a longer list. Thus, the same month, Castellón cardboard container and packaging company Grupo La Plana announced its acquisition of crevillentina. Soler Containers and soon became the Magnum Capital fund selling the Miranza group, which owns the ophthalmology clinic. view– To the German Veonet.
The same fund sold its stake in telecommunications company Grupo Aire to French fund Ardian Buyout last June, while the García family transferred ownership of pest control firm Lokímica to multinational Rentokil. In addition, the turroneras from Jijonenca Sanchís Mira and Turrones Picó joined forces to obtain Chocolate. ClavilenoFrom La Vila.
Although Casuistry is very diverse and includes, for example, lack of generational change In some of these cases—such as the cases of La Escadella or Café Jurado—the experts consulted economical situationwith some costs and one inflation shot and a uncertainty Behind the proliferation of these operations is an ever-increasing increase.
“There is a lot of liquidity in the markets and with current inflation levels, funds have an order to move money, “They can’t leave without investing,” says the CEO of Alicante firm Devesa & Calvo. David Devesa, one of the most active in the mergers and acquisitions market in the province. In this way, in some cases, the need to divest from some of these large financial companies after the company has completed its shareholding cycle is combined with a need to seek a target by others for its resources.
bad expectations
The bad economic outlook also plays a role. “We find some funds that have already met their profitability targets or former ownersseeing what’s coming and when it comes to family businesses they prefer to sell now The partner at Livingston Partners says they can still do it for a price they see fit. Neil Collen.
In this sense, Collen acknowledges that worsening conditions in the industry are expected to result in a decline in operations, but the opposite seems to be happening at the moment. “Some operations are being halted in the sectors most affected by the surge in energy, while in the rest investors are looking at the situation. ability to make a profit what these companies will have when the situation normalizes or is assumed,” says Collen.
This increase in costs has also made many companies gain size to face the situation in better conditions, which means that most of the buyers industrial companies and the same sector, As David Devesa points out, as in Suavinex, Café Jurado or La Escandella. “When you talk about synergies, you shouldn’t always think that you are looking for a cost reduction. In many cases, the benefit is sales improvementFor example, if the buyer includes the acquired company’s products in their distribution channels, it gets more points,” says Collen.
without alternative
There is also another factor lack of alternatives invest whatever is in financial marketsAs explained by the managing partner of Gesem Consultoría, leading to looking at the real economy in search of profitability that cannot be achieved by other means, Laura Vincent. A trend that translates into more investment when it comes to individuals. Real estateand when it comes to companies in the entry businesses where you see the possibilities.
On the other hand, in recent years a mentality change, In the opinion of the CEO of Devesa & Calvo, it has accelerated due to the impact of the pandemic. “Before it seems like a taboo For a businessman to sell the company that is considered his life’s work, but for the new generation to be more open and see it as a possibility to invest in other areas,” explains the lawyer.
President of the Alicante State (Aefa) Family Business Association, Maite AntonHe is positive that these operations will allow the affected companies to continue, but regrets what his sales will mean. decision center moves away from state and the roots that characterize family businesses will disappear. “We work as an association so that if the new generations do not want to join the administration, at least stay on property As shareholders, this proximity to the region is important,” says Antón, who also insists that barriers such as Inheritance Tax should be removed during the transfer.
In any case, this week’s operations they won’t be the last safely. They state that they’re working on at least five other investments from Devesa & Calvo – although that doesn’t mean they’ll all come true – and there are at least one more pair from Livingstone. And these are just two examples.