Apax Partners

Vista Capital e i Fondi gestiti da Apax Partners acquisiscono Grupo Itevelesa

Madrid, Spain, 18 November 2004: Funds advised by Apax Partners and Vista Capital have today completed the acquisition of Grupo Itevelesa from CVC Capital Partners and other minority shareholders.
Itevelesa is one of the leading companies in the Spanish market for the technical inspection of vehicles, second-hand vehicle inspection, and industrial testing and certification.
Grupo Itevelesa was established in 1982 and is one of the top three players in this sector in Spain, with operations all around the country.
The transaction has been partially financed with a syndicated loan underwritten by the Royal Bank of Scotland, Calyon, HBOS, ING and Caja Madrid.
Nicolás Bonilla, head of Apax Partners Spain, stated “Itevelesa is a company with good growth prospects in both industrial testing and certification, and technical inspection of vehicles in Spain and Europe. Itevelesa is our fourth investment in Spain in 2004, and demonstrates our high level of activity in the Spanish private equity market”.
Vista Capital’s President, Carlos Rodríguez de Tembleque, said “It is a pleasure for us to acquire a company such as Itevelesa, a sector leader with significant growth prospects. This transaction is in the sweet spot of our investment strategy, based on acquiring significant stakes in companies with substantial critical mass.”
BNP Paribas and 360 Corporate acted as the financial advisors to the buyers and Arcano Asesores Financieros advised the vendors.

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NOTES TO EDITORS

About Apax Partners
Apax Partners is one of the world’s leading private equity investment groups, operating across Europe, Israel, the United States and Japan.  With over 30 years of direct investing experience, Apax Partners’ Funds provide long-term equity financing to entrepreneurs to build and strengthen world-class companies.  It pursues a balanced equity portfolio strategy, investing in venture capital and buyouts.
Apax Partners’ Funds invest in companies across its 6 chosen global sectors of information technology, telecommunications, healthcare, media, financial services, retail and consumer.  Some of Apax Partners’ Funds recent investments in Spain include Vueling Airlines, Wisdom Entertainment and DMR Consulting. For additional information, visit the website www.apax.com

For further information, please contact:
Clare Sillars Juliana Wheeler
Tel: +44 20 7872 6476 Tel: +44 20 7872 6350
Email: Clare.Sillars@Apax.com Email: Juliana.Wheeler@Apax.com