Crescent Hill Capital buys 49% of Tecnoquark Trust S.A

The team combines individuals with extensive investment banking experience, gained across a wide range of sectors and transaction types
By: Rafael Pinedo
MADRID - June 28, 2019 - PRLog -- Crescent Hill Capital Corp, the United States Capital Investment Fund specializing in companies in crisis, has purchased 49.99% of Tecnoquark Trust, parent company of the components manufacturer for the automotive and aeronautics sector based in Manresa (Bages).
The American company is interested, especially in enhancing the growth of activity by French subsidiaries of Technoquark Trust France, where the related business aviation industry has great weight. In parallel, Tecnoquark Trust SA Espana has transferred 100% of the automotive business to the founders of the Catalan company, Carlos Soler and Vicenç Mauri.
The operation has been structured in two parts. The first focuses on the acquisition by Crescent of 2.66 million shares in Soler and the company Suncat 2007, controlled by Mauri. The total value of the transaction, including the debt of Tecnoquark Trust and Tecnoquark France, amounts to a total of 6.2 million euros. In the board of directors of Technoquark Trust SA, Rafael A Pinedo has been appointed as Crescent representative.
The second part focuses on the sale of two subsidiaries, Tecnoquark Tooling and Tecnoquark Aero, which entered into a pre-contest last February. Soler and Mauri buy them 50% in an operation valued at five million (including debt),
The purpose of Crescent Hill in the short term is to undertake an accelerated process of reconversion of the Tecnoquark Trust SA project and close the 2018 audit, present a strategic plan for 2019 and return to normal trading in the coming weeks.
Tags:Aerospace Defense Airbus
Location:Madrid - Madrid - Spain
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