Nazca becomes a shareholder in Cinelux
Nazca Capital has made its first investment of Nazca Fund V with the acquisition of Cinelux. The current owner, David García, will continue as Managing Director and will maintain a significant shareholding in the company.
Founded in 1988, with headquarters in Madrid and 2 subsidiaries in Barcelona, Cinelux is the largest operator and point of reference in the lighting equipment hire market for television, theatre, cinema and events, with sales of 12 million euros in 2018 and a highly qualified team. In recent years, the company has registered double digit growth, due to the growing trend of outsourcing of these services, as well as the company’s capacity to offer its clients the most innovative equipment, with the largest inventory of lighting equipment of the Spanish market.
In this new stage, Nazca, along with the management team of Cinelux, has the objective of taking advantage of important opportunities for the audiovisual business in Spain thanks to growing outsourcing by television channels, technological transformations (such as replacement of traditional technology with LED) and the growing demand for theatrical content by OTT platforms. Therefore, this project will have significant investment in equipment for development of these segments, as well as the acquisition of other companies in the niches of lighting and other technical areas, with the objective of creating an audiovisual group which can provide a comprehensive service to television producers and channels.
Since 2001, Nazca has fully invested Funds I, II and III with sizes of 100, 150 and 230 million euros respectively, having carried out 65 transactions: 29 direct investments in companies, 17 additional acquisitions of companies from its investees and 19 divestments.
Cinelux is the first investment of Nazca Fund V, recently established and focused on the lower segment of the middle-market (investments of up to 15 million euros). Currently, Nazca simultaneously manages Nazca Fund IV (275 million euros) and Nazca Fund V (150 million euros), both funds mainly made up of international institutional investors.