The acquisition of the 87.1 per cent stake in the Murcia-based company represents Magnum’s eighth investment focused on the Iberian Peninsula.
Iberchem was founded in 1985 and has production and technological centres s in Spain, China, Tunisia, Indonesia, Singapore, Malaysia, Colombia, Italy and Mexico. The company recorded 2012 turnover of €57m, according to Gurusblog.
Following the deal Magnum founding partner Angel Corcóstegui will become Iberchem president
Magnum has €866m of committed capital in the current vehicle. Its portfolio includes Iberwind, Generis, Geriatros, Grupo Vendap and Eptisa.
Earlier this year former Magnum partner Inaki Echave joined Blackstone as a managing director focused on the firm’s Spain and Portugal-focused investments.
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