Spanish private equity firm Alantra has acquired 70 per cent of plastic moulds manufacturer MD Moldes.
The firm made the investment from Alantra Private Equity Fund III, which closed on €450m earlier this year.
It was not disclosed how much Alantra invested, but it typically invests between €35m and €90m into mid-market companies.
The businesses founder and CEO Manuel Domingues will stay in his position, and will retain a 30 per cent stake in the company along with the rest of the management team.
MD Moldes is a manufacturer of specialised plastic moulds for tier one suppliers and global car makers, including Porsche, Ferrari, Bentley and BMW. It exports 90 per cent of its production to France and Germany as well as China. It employs more than 330 people.
The investment will allow MD Moldes to consolidate itself as a leading company in its market.
Alantra partner David Santos said, “Alantra will support MD Moldes in accelerating MD Moldes’ international growth, both by increasing its own production capacities and in helping it become a consolidation platform in a fragmented sector.”
Earlier this year AltAssets reported that Alantra had exited furniture plastics business Probos in a €99m deal.
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