A group of investors led by Trilantic Europe, a private equity firm focused on mid-market transactions in Europe, has signed an agreement with the Urgell family to acquire a participation in the Pachá Group (“Pachá”), a Spanish leisure, hospitality and entertainment group.
Trilantic Europe, together with a group of co-investors that includes investors in its Funds as well as MCH Private Equity and GPF Capital, will acquire a stake from the members of the Urgell family and provide additional resources to finance the company’s expansion plan. As part of the transaction, Ricardo Urgell, the founder of Pachá, will remain as a shareholder of the company.
Today’s agreement between Trilantic Europe and the Urgell family represents an important milestone for the Pachá Group. Shareholders will support the achievements and successful growth of Pachá over the last 50 years by Ricardo Urgell by further strengthening the Group’s Ibiza’s operations and also by focusing on the international expansion of the Group.
Closing of the transaction is expected to take place within two months, once a number of condition precedents, such as the antitrust approval, have been met. The new Board of Directors will include representatives of Trilantic Europe as well as international industry experts.
Ricardo Urgell said: “I want to welcome Trilantic Europe to our home, Pachá. I am very excited about this new phase of our group’s life, where I trust that, together with our new partner, we will undertake projects that will further contribute to the success achieved in the last 50 years.”
Trilantic Europe said: “It is an honour that Ricardo Urgell has opened Pachá’s doors to us. We look forward to working together with him and the rest of the team on the very exciting future of the company.”
About Pachá Group
Pachá is a Spanish leisure, hospitality and entertainment group. It was founded in Sitges in 1967 by Ricardo Urgell. The company is headquartered in Ibiza where the Group’s key assets are located and it has a presence since 1973. The Group is currently active in night clubs, hotels, restaurants, magazines, event organisation, franchises, music production and clothing and accessories stores.
About Trilantic Europe
Trilantic Europe is a private equity firm focused on control and co-control investments in leading mid-market companies in Western Europe. Trilantic Europe currently manages two institutional private equity funds with aggregate capital commitments of €1.5 billion.
Trilantic Europe has a long history of investing in Europe and has a strong heritage of partnering with management teams, entrepreneurs and family-owned companies looking for a value added partner that can support the expansion of their businesses. Relevant examples of Trilantic Europe’s partnership approach in Spain include ITP, an aircraft engine components manufacturer, Euskaltel, a telecommunications company, as well as Talgo, a manufacturer of high-speed trains. Trilantic Europe has also successful experience in the entertainment sector, having invested in Istanbul Doors, a high end restaurant and nightlife chain with European operations including outlets in Turkey and the United Kingdom.
Agnès Riousse, Grant Ringshaw
Citigate Dewe Rogerson: +44 207 638 9571