Nazca becomes a shareholder of the One Shot Hotels hotel chain
- Founded in 2013 by the Family of Solís Tello and Luis Felipe Mendieta, One Shot Hotels is the third largest independent hotel chain in Spain with 11 urban hotels within the Lifestyle niche
- Along with the founding shareholders, Nazca’s objective is to enhance its growth in the main cities of Spain and Portugal
- Nazca completes its sixth acquisition of Fund IV, established in 2017
Madrid, 23rd of December 2019. One Shot Hotels, the third largest independent hotel chain in the lifestyle niche in Spain, has been invested in by Nazca Capital, a company focused on investing in non-listed Spanish small and medium sized businesses. Luis Felipe Mendieta, managing director and founding partner along with the Solís family, will be supported by Nazca’s experience in organic and inorganic growth projects, to take advantage of the important opportunities existing in the tourism and urban hotel sectors in Spain.
With headquarters in Madrid and presence in the main cities of Spain, One Shot Hotels is the third largest independent hotel chain in the lifestyle niche in Spain, with sales of 17 million euros in 2019. One Shot currently has 11 hotels in emblematic buildings located in prime areas (4 in Madrid, 3 in Valencia, 2 in Seville, 1 in San Sebastián and 1 in Barcelona). In recent years, the company has recorded double digit growth, caused by the rise of the tourism sector in Spain, as well as due to the boom of urban tourism with a new lifestyle concept thanks to significant development in recent years in cities such as Madrid, Málaga, Seville, Valencia, Bilbao and San Sebastián.
In this new stage, One Shot has the double objective of doubling its network of hotels in 5 years, expanding its presence to new cities such as Seville, Málaga, Alicante, Barcelona, Bilbao, Lisbon and Porto.
The Solis Tello family comments, “We did not want just any fund to develop and grow our One Shot Hotels project; we needed one with the experience and track record of Nazca in Spanish family businesses and SMEs to dare to take this vital and necessary leap in our ambitious plan for growth in the main capitals of the Iberian Peninsula”.
Luis Felipe Mendieta, founder and managing director, states “We are facing a tremendous challenge of growth in the coming years. The incorporation of Nazca entails a stimulation of the project with the contribution of capital and experience in changing Spanish leaders in attractive market sectors. Its knowledge of the dynamics of family business is also very applicable to One Shot”.
Alvaro Mariátegui, managing director of Nazca Capital commented “One Shot Hotels is the sixth investment of Nazca Fund IV and encompasses all requirements we seek in an investment. It has a unique position in the urban sector and an excellent team, in a market with strong potential for growth where Spanish companies are a clear point of reference. We are very excited about the possibility of participating in this project, with a great team led by Felipe Mendieta, where we will contribute our 20 years of experience investing in family businesses in Spain with growth projects”.
Deloitte, Savills-Aguirre Newman, Aldaba, Debitas and Uría have advised Nazca in this operation, with PwC advising the sellers.
About Nazca
Nazca is a private equity fund manager specialised in the Spanish middle market. Nazca leads its market segment, both in volume of operations carried out and profitability obtained in its investments. Since 2001, Nazca has fully invested Funds I, II and III with sizes of 100, 150 and 230 million euros respectively, having carried out 68 transactions: 30 direct investments in companies, 18 additional acquisitions of companies from its investees and 20 divestments.
It currently simultaneously manages Nazca Fund IV with 275 million euros and Nazca Fund V with 150 million euros for investment in smaller sized SMEs, both funds mainly made up of international institutional investors. Nazca has a portfolio of 10 companies: FoodBox (Catering), Distribuciones Juan Luna (Food), Caiba (PET containers), McBath (Resin Shower Trays), Phibo (Dental Implants and Prostheses), Herbex (Fresh Aromatic Herbs), Terratest (Special foundations and tunnels), Diater (Biopharmacy), Cinelux (Cinema and Entertainment Services) and One Shot Hotels (Hotels). The companies from which Nazca has divested are: Svenson, Rodilla, Dibaq, Unipost, Vinartis, Lizarrán, El Derecho, Guzmán, Acens, Hedonai, Elogos, Fritta, Autor, IMOncology, Logifrío, Agromillora, El Granero Integral, Eurekakids, Gestair and Grupo OM.