Befesa - Newsroom

Current News

04.16.2008

Befesa and Qualitas Equity Partners close financing for integration of their aluminum recycling activities

Madrid, April 16, 2008. Befesa and Qualitas Equity Partners have signed, through their subsidiary Befesa Reciclaje de Residuos de Aluminio, a 120 million euro long-term non-recourse financing contract in order to refinance the acquisition of Alcasa (Aluminio Catalan), attend to operating cost needs and obtain funds to undertake new growth opportunities.

The financing has been obtained from a five-bank syndicate comprising Caja Madrid, BBVA, Banco Popular, Bank of Scotland, and KBC.

Befesa Reciclaje de Residuos de Aluminio, in which Befesa Medioambiente holds a sixty percent stake and the funds managed by Qualitas Equity Partners a thirty-nine percent stake, focuses on recycling wastes from the aluminum industry. It is ranked three in the European aluminum recycling market, with billing exceeding 300 million euro per year. It has four plants located in Biscay, Valladolid, Barcelona, and Krakow.

The activity conducted by Befesa, Abengoa’s environmental services subsidiary, focuses on providing environmental services for industry and construction of environmental infrastructures. It is a listed company and closed 2007 with share capitalization exceeding 550 million euro (www.befesa.com).

Qualitas Equity Partners is a venture capital fund manager whose activity focuses on buy-out transactions in companies with sales ranging from 20 to 200 million euro.