British investment fund BD Capital has acquired a majority stake in Netex Knowledge Factory, the Galician educational technology company, through a takeover bid to all shareholders at a price of €4.75 per share.
This transaction values Netex at more than 65 million euros and also entails a capital injection of 7.5 million euros for the company's expansion. The offer, considered amicable by both parties, represents an increase of 25% compared to last Friday's closing share price and 28% above the weighted average value of the last six months.
Netex's main shareholders, including its founders Carlos Ezquerro and José Ramón Mosteiro, have given their approval to the proposal.In addition, BD Capital has obtained ‘irrevocable commitments’ from other shareholders representing 50.5% of the company's total capital to accept the offer.
In this transaction, Netex and its reference shareholders were advised by a multidisciplinary team from Martínez-Echevarría law firm, led by partners Ramón Ruiz de la Torre Esporrín and Manuel Toledano Lanza, with the participation of lawyer Jaime Signes-Costa Smith, among others.
BD Capital was advised by an M&A team from Uría Menéndez, including Manuel Echenique Sanjurjo, Gorka Atutxa Bernaola and Alejandro Fuentes González, among others.
The transaction, in addition to strengthening Netex's position in the e-learning market, provides the company with the necessary resources for future growth and expansion, thus consolidating its leadership in the educational technology sector in Spain.