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N+1 acquires 22% stake in electronic locks maker Salto

2 Jan 2014

spain_flag2_170sqPrivate equity firm N+1 Mercapital has bought a 22 per cent stake in Spanish electronic locks maker Salto.

The investment was made from the firm’s Private Equity Fund II.

N+1 noted that Salto is present in more than 90 countries with a solid positioning in Europe and the US.

Exports accounted fore 90 per cent of the company’s sales in 2012 and were expected to reach 95 per cent last year.

The firm said in a statement, “In the next few years, thanks to the support of the funds managed by N+1 Mercapital, the company will consolidate its leadership position in its main markets where it expects to post strong growth, and will continue its international expansion process by entering into new markets.”

Back in November N+1 and Blackstone agreed the €1.2bn sale of Spanish food can manufacturer Mivisa Envases to Crown Holdings.

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