Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, today announces that it has sold Spanish leading concrete precast group Pretersa Prenavisa (“Pretersa” or “the Company”) to Precon, a subsidiary of Cementos Molins.
Pretersa specialises in the design and engineering, production, transport and installation of precast concrete buildings for a range of different industries including logistics, retail, manufacturing, and the growing housing market backed by the growth of industrialised construction and BIM. The Company operates from three factories in Teruel, Jaén and Sevogia (Spain) and services the Spanish and French markets.
Kartesia first invested in Pretersa in 2015 and has supported the growth of the Company with additional financing over the years for the acquisition of 2 plants in Jaén and Segovia, developing Pretersa in a multi-plant player with further business diversification into new market segments. The investments were structured from the Kartesia Credit Opportunities III (KCO III) fund, with the entirety of its stake being purchased by Precon through this transaction. The sale of Pretersa to a strategic buyer reflects the successful story built under Kartesia’s stewardship and signals the opportunity for continued growth under new owners.
Sergio Narro, Pretersa´s CEO, said: “We would like to thank both parties for the opportunity granted to Pretersa to become part of an industrial group of the importance of Cementos Molins. The integration of both companies will place the group as the precast market leader in Spain in terms of capacity and resources. We want to especially thank Kartesia for its commitment over the years, not only in financial terms but also its hands-on support to pursue a successful buy-and-build strategy, that has placed the company where it is now; and the Cementos Molins family for its warm welcome”.
Tomas Neuhaus, Investment Director at Kartesia, commented: “It has been a pleasure to work with Sergio and his team as Pretersa has expanded its client base, production footprint, expertise and market share since we came on board in 2015. We are confident that the business is well-positioned to take advantage of the significant growth opportunities in its traditional segments, but also in the promising housing and wind-power markets, on the next step of its growth journey with this investment from Precon.”
Cementos Molins is present in the precast business in Spain through its subsidiary Precon, an engineering company specialising in the design and production of prefabricated concrete solutions for public and private projects, with a 70-year track record. Precon operates ten factories in Spain.