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Date: 11/02/2020
Category: Desinvestments

SHERPA CAPITAL SELLS CEGASA PORTABLE ENERGY FOR €26,4 MILLION TO THE LISTED MEXICAN COMPANY AUTLÁN.

Founded in 1934 and located in the País Vasco, Cegasa Portable Energy is the second largest producer of the electrolytic manganese dioxide in Europe, with annual sales of €17,7 million in 2019. The sale includes 50% of the shareholding that the company keeps in Energía Portable Cogeneración, a partnership with Iberdrola Cogeneración that operates an electric power generation unit.

The venture capital fund manager (Private equity) Sherpa Capital, focused on investment in medium-sized companies with more than 400 million euros under management, has announced the sale of Cegasa Portable Energy to the Mexican listed company Compañía Minera Autlán, S.A.B. from C.V. (Autlán) for 26,35 million euros.

Founded in 1934 and located in Oñate municipality, in the Guipúzcoa province (País Vasco), Cegasa Portable Energy is the second largest producer of Electrolytic Manganese Dioxide (EMD) in Europe with annual sales in 2019 €17,7 million.

The perimeter of the transaction is limited to Cegasa Portable Energy business unit, which was divided from Cegasa Group with the objective of its subsequent divestment, thus being excluded Cegasa Energía from the operation, whose activity focuses on two areas. On one hand, the manufacturing of industrial Zinc batteries, and, on the other hand, the design, manufacture and marketing of products and solutions for energy storage, based on electrochemical batteries of
Lithium-Ion technology.

The sale includes 50% of the shareholding that the company maintains in Energía Portable Cogeneración, a partnership with Iberdrola Cogeneración that operates an electric power generation unit to guarantee its supply in a competitive manner.

The EMD is a key input in the alkaline batteries manufacture. In line with Autlán’s strategic plan, this operation contributes to the growth of the Manganese Division in the battery industry and diversifies its income sources towards non-steel applications. Sherpa Capital was advice by PwC and DLA Piper. Autlán has been advised by EY and Gómez-Acebo and Pombo.

Sherpa Capital

Sherpa Capital is the leading private equity fund manager in investments in medium-sized companies that seek to meet new challenges. There are currently managing more than 400 million euros through their funds.

Compañía Minera Autlán, S.A.B. de CV

Autlán is a Mexican company with worldwide recognition for their mining and industrial products quality, as well as for their emphasis on operational excellence. Autlán creates value for their communities, shareholders, staff and customers using their experience and the best available technology in their operations, and in their growth and diversification projects.

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