Kartesia commits €50m to support the continued development of Portik Group - Kartesia

Kartesia commits €50m to support the continued development of Portik Group

Portfolio Publications

Kartesia, a leading European specialist provider of financing solutions, is pleased to announce it has provided a financing facility to support the buy-and-build acquisition strategy of the leading property management business Portik Group (“Portik” or “the Company”).

Portik Group was formed in July 2023 from the merger between inmho and LDC, leaders in the Spanish and Portuguese markets respectively. It is a property management company offering services to homeowner associations such as rental management, real estate brokerage, facility services, and insurance, among others. Last month the Company also expanded into the Mexican market with the acquisition of All in One. The company is headquartered in Spain and is now the largest player in the Iberian market and second largest in Mexico.

The capital for this transaction has been drawn from Kartesia’s fifth and sixth vintages of its Credit Opportunities strategy. The growth capital provided by this financing will help to continue to fuel the ambitious buy-and-build strategy of Portik, which has already made almost 100 bolt-on acquisitions since 2017. The Company benefits from a large total addressable market backed by solid demand drivers like housing concentration and increasing regulation.

The deal team at Kartesia comprised Guillermo Ferre, Carlos Vázquez and Maria Blanquet.

Jorge Garcia, CEO of Portik Group, commented: “We are very pleased to announce this partnership with Kartesia, which has proven itself as one of the leading backers of small and medium-sized companies in Iberia and across the rest of Europe. This is an important next step for Portik and, with Kartesia’s financial firepower and local market expertise, we are confident in our ability to execute a targeted buy-and-build acquisition strategy to solidify our position in our existing markets and beyond.”

Guillermo Ferre, Head of Spain & Italy at Kartesia, added: “We are looking forward to working closely with Jorge and the team to continue to drive inorganic growth at Portik Group, which has established itself as a market leader across Iberia with an impressive M&A and integration strategy. The Company has strong digitalisation capabilities, a solid reputation in the market and an attractive recurring revenue profile, all of which convinced us that this is an extremely sound investment. We are excited to be a part of the next stage of Portik’s growth trajectory.”