With discretion and without making too much noise, Closa Capital has become a consultancy specializing in unraveling the problems of family businesses: from buying and selling operations to partner exits or succession conflicts. “We have never actively sought anyone out. Entrepreneurs come to us out of necessity, even large law firms refer difficult conflicts to us,” says Josep Maria Romances, founder and president.
With over 30 years of experience backing them, Closa was founded in Barcelona in 1987 with the purpose of advising mergers and acquisitions operations. It wasn’t until 2015 that they entered the field of special or crisis situations. “We saw there was demand, and now the business world knows us for it,” says the entrepreneur, who employs a staff of around twenty workers.
Born in 1987, the company has surpassed 800 advisory operations in Spain and abroad.
The business, he assures, is “very profitable,” having billed 6.1 million euros last year, a figure expected to remain stable this year. “We’ll continue discreetly doing what we’ve always done,” indicates Romances, who works alongside other partners in the team, such as Ernest Quingles, John-Oliver Breckoff, or Jorge Lluch.
Only 30% of their activity takes place in Catalonia, while 70% is distributed across the rest of Spain and in multiple countries abroad, in Europe, Asia, and America. The firm diversifies its activity in sectors such as industry, health, technology, logistics, or alternative investments. Although in recent years they have focused on “special situations,” their activity in company mergers and acquisitions remains dynamic. “We have just surpassed 800 M&A operations since we were founded in 1987,” Romances celebrates.
In parallel, the owners of Closa control an investment company endowed with funds of around 70 million euros. The capital comes from their own contributions and from foreign investors. Romances explains that the company invests wherever Closa sees interesting opportunities, in companies with a gross profit (ebitda) exceeding 2 million euros and that need the presence of an accompanying partner. In total, this company has closed 25 operations, five of which are in companies they still participate in. Romances details that the latest investment has been in a real estate company, and he also highlights their past participation in supermarket and courier companies.
Article written by Blanca Gispert and published by La Vanguardia: Closa Capital, asesores con discreción
