The Carrillo Family, founder and majority shareholder of the Mecalux Group, has signed the repurchase of the minority shareholdings of Corporación Financiera Alba (Artá Capital) and Corporación Industrial REA. Through this deal, the Carrillo family will recover 90% of Mecalux ownership, which will allow it to undertake its expansion plans over the next few years.
The transaction was conducted through two long-term financing agreements. One of the loans has been structured through a senior financial tranche, with a 6-year maturity date. This portion has been supplemented with a Revolving Credit Facility (RCF). Both tranches have been insured by Banco Santander. The transaction has an additional financing tranche lasting 7 years and a bullet repayment structure. Said tranche has been fully insured by Tikehau Investments.
Alantra has acted as financial advisor, whereas legal counsel has been provided by Cuatrecasas, Pérez Llorca and DLA.
A significant stride in Mecalux's strategic plan
With this move, the Carrillo and Zardoya family will pursue Mecalux's 5-year strategic plan, which forecasts growth of up to 1,400 million euros, a figure which means doubling the current turnover of 720 million euros for the 2019 fiscal year, over the next 5 years.
Mecalux expects an EBITDA of around 70 million euros for this year, and in 5 years, by fulfilling this strategic plan, Mecalux will reach an EBITDA of over 150 million euros.
This plan will be based on the company's organic growth in the different divisions and current markets. However, potential strategic alliances and/or technological investments will be examined.
The company has an ambitious technology investment plan to strengthen its current warehouse management software division.
This year, this division is expected to reach a turnover of 20 million euros, and 100 million euros within 5 years.
Additionally, this strategic plan is based on the growth of the Automated Warehousing division, where it envisages having contracts amounting to 200 million euros in 2019 and 500 million euros in contracts in the next 5 years.
Geographically, Mecalux currently has branches in 20 countries, essentially in Europe and North America. It presently generates 45% of its sales in Europe, 45% in the United States and the remaining 10% in South America, in the Brazilian and Argentinean markets. Mecalux anticipates continued development in these markets over the next 5 years, where the demand for warehouse technology is expected to grow significantly due to the profound change e-commerce has brought about in all areas of production and distribution.