Nexxus Iberia announces that Nexxus Iberia Private Equity Fund I, FCR (the “Fund”), completed its first investment on June 27, 2018 in Fuertes Gimeno Comunicaciones S.L. (“FGC”).
Founded in 1998, FGC is a Spanish engineering company that provides a wide range of services to telecom carriers and equipment vendors for the deployment, maintenance, upgrade and optimisation of mobile and fixed networks. Such services include consultancy, outsourcing of qualified personnel, site location management, first line maintenance of network, and engineering projects. As a trusted contractor of blue-chip equipment vendors and telecom carriers, FGC has enjoyed barriers of entry and the opportunity to serve its clients’ needs in Spain and internationally. As a result, FGC serves its main clients in Spain, Germany, UK, Mexico and other ten Latin American countries (“LatAm”).
Nexxus Iberia believes that FGC is in a great position to profit from the strong investments by telecom carriers in mobile and fixed networks, which are driven by the increase in data consumption, new network applications (e.g. the Internet of Things) and the increase in demand for faster data. Ultimately, this will lead to the deployment of 5G technology that will require significantly larger investments than in the current 4G environment. Nexxus Iberia will support FGC’s management team in capturing this opportunity whilst consolidating and expanding its international presence in Europe and LatAm.
Maite Ballester, Managing Partner at Nexxus Iberia commented: “This investment is in the fairway of Nexxus Iberia’s strategy, as we are investing in an internationalized Spanish SME, with over 60% of its revenues in Spain and nearly 40% from LatAm. It validates our original thesis that having on-the-ground presence in LatAm to support growth in the region is compelling to Spanish companies”. Pablo Gallo, Partner at Nexxus Iberia commented: “Mr. Fuertes, the founder of FGC and Mr. Vidal de Torres, the Chief Executive, together with an excellent human team, have built a solid business that has the trust of its clients internationally, and we look forward to supporting it in the next level of its development”.
Mr. Fuertes, Founder of FGC, commented: “We believe that Nexxus Iberia is the ideal partner to support us in our growth plan and in the path to best serving our clients in Spain and internationally”. Mr. Vidal de Torres, the Chief Executive of FGC, commented: “We found the approach and positioning of Nexxus Iberia compelling, and we look forward to working with them as our partners as we continue to support our clients in Spain, LatAm and Europe”.
EY and Garrigues acted as advisors in the deal, and Candesic carried out the commercial review
Leave a Reply Now