xus in its capital with the aim of taking a new leap through acquisitions throughout the US and Europe.
The Spanish private equity manager MCH and the Mexican Nexxus Capital have contracted the services of the Spanish investment bank Alantra as financial advisor to launch the sale process of Pumping Team, one of the world’s leading providers of pumping services. concrete, according to market sources consulted by EXPANSIÓN, who specify that the operation is still in a preliminary stage.
The eventual exit of MCH and Nexxus from the ownership of Pumping Team occurs five years after the two firms invested jointly in the company with the aim of supporting the management team in its internationalization. Currently, MCH and Nexxus jointly control, with shares of around 40% each, most of the capital of the company, whose headquarters are in Mexico, while the group’s management team holds the rest of the shares.
During the investment period of MCH and Nexxus in Pumping Team, the group has carried out several relevant acquisitions, among which the purchase of the concrete pumping unit of the cement company Cemex in Mexico stands out, as well as that of other smaller operators in Spain. .
Pumping Team currently has a presence in Spain, Mexico and Portugal and has a turnover of around 65 million euros, while the group’s operating result (ebitda) is around 16 million euros. About 50% of the business comes from Spain and the rest comes from abroad.
The valuation to which MCH and Nexxus aspire during the process has not transpired, but taking into account the size of the company, it is foreseeable that it will be a transaction whose value greatly exceeds 100 million euros.
The company has a fleet of more than 550 concrete pumping units and more than 800 employees. During the pandemic, it has been able to maintain business thanks to the fact that, in the construction sector, concrete pumping is gaining more and more ground over traditionally used manual mechanisms.
According to the sources consulted, the management team of Pumping Group aspires through this operation to find a new international partner that relieves MCH and Nexxus in the shareholding and helps the company to conquer the next level through acquisitions throughout the United States. and Europe, mainly.
Pumping Team is one of the few corporate operations that are coming onto the market during the second quarter of the year, a period in which observers of the venture capital industry in Spain are seeing a certain slowdown due to the uncertainty generated as a result of the Russian invasion of Ukraine, the energy chaos and inflation, among other factors that are slowing down the economic recovery after the coronavirus pandemic.
