On January 27th, an investment agreement was signed between HD Correduría de Seguros and PHI Industrial, in which the fund became partner of HD in order to continue its expansion and consolidation in the Spanish market.
The PHI Industrial fund, owner of the porcelain firm Lladró, has taken another step in its international growth with the purchase of 100% of PPC Insulators, world leader in ceramic insulators for the energy infrastructure industry, so far owned by the European Triton Partners fund. The firm has had EY and Tribeca Abogados as advisors to the operation. Although the amount has not been revealed, according to the Economist, it is a significant investment for the fund, whose equity (capital) tickets per operation amount to up to 15 million euros.
Madrid, 8th of July 2021
The Spanish Private Equity fund PHI Industrial has finalised the acquisition of Lapp Insulators, a ceramic insulator company headquartered in Germany, a carve-out from the German multinational Pfisterer. Details of the transaction have not been disclosed.
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