Luceiro Capital is an independent private equity investment firm specializing in high potential SMEs.
Through the closed investment vehicle Luceiro Capital Partners I, we work with capital from institutional investors, including investment funds, family offices and private investors, with a global reach and united with the objective of acquiring majority stakes in private companies located in Spain, Portugal & the UK; to subsequently become involved in the active management of the company and the creation of long-term value.
We differentiate ourselves from other investment models by offering business owners a flexible capital and expertise solution that allows them to make an orderly transition of their business while maintaining their legacy and values. We offer the current owner the ability to generate a tangible return for their efforts over time through a liquidity-generating sale, with the peace of mind of a continuity plan, and always with a fast and discreet decision making process.
From our offices in A Coruña (Galicia, Spain) and London (UK) we analyse investments with flexibility of geography and sector. We look for quality companies, with proven business models and sustainable competitive advantages; in industries with favourable dynamics. We do not invest in companies that require deep restructuring or sectors that are highly dependent on regulation.
We provide flexible capital and expertise to family-owned companies and institutional shareholders looking for a partner to help them provide continuity to their project and ensure a successful transition to a new stage of growth.
We bring operational, financial and strategic value to our partners. Our team and our capacity to act make us different.
Luceiro Capital offers business owners & entrepreneurs a different alternative to traditional buyout solutions, designed to offer flexibility to the entrepreneur in the next stage of his career:
- Competitive valuation of your business.
- Flexible solution to buy 100% of the company or keep part of the current shareholding.
- Possibility for the entrepreneur to continue working alongside the new team with capital and resources to see their business grow and achieve new goals.
- Commitment to all the people who work in the company, customers, suppliers and other stakeholders.
- Excellent reputation of the investment team accumulated after years of business management and deep knowledge of the investment world.
- Multidisciplinary team with specialisations in different areas.
- Confidentiality and agility throughout the process.
- Understanding of the challenges of the family and the entrepreneur.
Focused on long-term value creation.
- Companies with a history of good management and a well-defined strategy.
- Ability to invest with a long-term horizon.
- Generation of capital for business expansion through a committed institutional shareholding.
High-quality companies in sectors with favourable dynamics
- Proven business models with sustainable competitive advantages.
- Preference for sectors with structural and stable growth.
- Cash generative companies, with attractive ROIC and growth prospects.
Investment flexibility
- Ability to invest in the range of €5-30m (focus on €10-25m transactions).
- Capital solution tailored to the entrepreneur and the company's objectives.
- No preference as to sector.
A solid management team, committed to the entrepreneur.
- Businesses with strong management teams.
- Partners with the business owner, with 100% aligned objectives.
- Focus on engaged employees and customer satisfaction
Financial characteristics of the company:
- EBITDA between 1 and 5 M€
- Significant profit margin (>10% EBITDA margin)
- Track record of growth and cash generation
- Good quality productive assets and moderate debt levels.
Operational characteristics of the company:
- Competitive advantages that cannot be replicated
- Recurring revenues
- Fragmented customer base, with low turnover
- Non-cyclical and growing industry
- Low regulatory impact
We create new opportunities for our investors.
We open new paths for business owners.
Always with a rigorous approach.
Transparency, confidentiality, and expertise in the investment process.
Our experience managing corporate transactions allows us to carry out a solid, predictable and efficient process that facilitates the entrepreneur's decisions, with well-defined steps and timelines.
The valuation and negotiation process can take 4 to 6 months. After an initial conversation to get to know the entrepreneur as a person and to present the company to us, we will move on to valuing the company with the appropriate professional advice, always in a simple manner and without interrupting the company's operations. At all times we will manage the process in a transparent manner, adapting to the objectives of the business owner, and building a solution that generates value for everyone.
- Initial Conversation
Presentation of Luceiro Capital's business and project. Identification of interests. Design of an agile and dynamic work proposal
Signing of the
Non Disclosure Agreement
(NDA) - Preliminary assessment Gathering of the most relevant information on the company's strategy and finances. Understanding of the company's vision for the future, shared between the entrepreneur and Luceiro Capital. Signing of a Letter of Intent to open the Due Diligence (LOI - "Letter of Intent")
- Due Diligence Complete business information gathering. Independent financial and legal evaluation. Presentation of binding offer and resolution of doubts.
- Closing the transaction Signing of the agreement, execution of the payment of the purchase in the agreed form and start of the transition process to the next stage of the company.
- Duration 4 to 6 months
Luceiro Capital's partners have more than 10 years of local and international experience in management and investments and are backed by a group of professional investors.
As Managing Partner of Luceiro Capital, Ivan Varela Rozados brings his experience managing investments and advising on corporate transactions, having spent the early part of his career working in investment banking in London for MUFG and Nomura; as well as for the investment firm PIMCO. Together with him, Efren Lopez Ferreiro is a partner of the project and Strategy and Operations Advisor, where he brings his experience as a strategic consultant at Accenture and Oliver Wyman, with extensive international experience advising large companies on improving their processes and operations. Together they have more than 15 years of experience in finance, consulting and business management, and have worked in Spain, Portugal, UK, USA, Middle East and Latin America.
The Luceiro Capital team is backed by a group of more than 20 investors who will contribute their experience to the project and to the board of directors of the invested company. The investment team has first class experience, with businessmen and executives who have held senior positions in leading companies and financial firms such as McKinsey & Company, Santander, BBVA, Repsol, Gas Natural, Inversis, JP Morgan Chase, Barclays, Bank of America or Advent International, among others.
Iván Varela Rozados
Managing Partner
Ivan Varela Rozados
Managing Partner
Ivan is the founder and Managing Partner of Luceiro Capital, a project motivated by his personal experience growing up in a family of entrepreneurs.
Ivan has over 7 years of investment experience. He has held various positions in the UK and the US, working as an investment professional at US investment manager PIMCO, as an associate in the global markets area of investment bank MUFG, and previously, earlier in his career, as an analyst in the financial institutions team for Southern Europe at Nomura International.
MBA from LBS and Columbia Business School (Chazen Programme). Industrial Engineer from the Polytechnic University of Madrid, and Master in Information Systems from Cranfield University. Postgraduate Fellow and member of the Board of Directors for the Association of Fellows of the Barrié Foundation.
Efrén López Ferreiro
Partner and Strategy & Operations Advisor
Efrén López Ferreiro
Partner and Strategy & Operations Advisor
Efrén is Partner and Strategy & Operations Advisor at Luceiro Capital.
He has more than 6 years of experience in strategic consulting where he has developed a solid expertise in operations management, cost optimisation and organisational restructuring of large companies. In recent years, he has worked for large multinationals in Europe, the Middle East and the United States. Much of this work has been developed in the Spanish industry, specifically in the manufacturing and retail (including e-commerce) sectors.
Since 2018, he has been part of the consulting team at Accenture Strategy. From 2014 to 2018, he was part of the consulting team at Oliver Wyman. He has also worked as a contractor for Gellify, a company that combines the provision of strategic consulting services with support services for start-ups, to connect them with traditional companies and foster their growth.
MBA from INSEAD and The Wharton School of the University of Pennsylvania (exchange programme). Aeronautical Engineer from the Polytechnic University of Madrid. School of University Leadership from the Francisco de Vitoria University.
Isaac Miguez Armada
Partner and Principal Investments Advisor
Isaac Miguez Armada
Partner and Principal Investments Advisor.
Isaac is Partner and Principal Investments Advisor at Luceiro Capital.
He has over 9 years of experience in Alternative Investments, having served in various roles in global investment firms such as Private Equity fund 3i and hedge fund Autonomy Capital.
He has also worked in the Investment Banking divisions of HSBC and Crédit Agricole. During this time, Isaac has executed and managed more than 25 investments in various regions and sectors with a total estimated value of more than 1.2 billion euros. His experience has allowed him to develop a wide range of skills in investment analysis, deal execution- M&A, restructuring and portfolio management.
CFA Charterholder, graduated in Business Administration and Law from the Universidad Pontificia de Comillas (ICADE E-3).
The key to our capabilities lies in the teamwork that allows us to make better decisions and seek better investment solutions for the entrepreneur.
Luceiro Capital has the financial and operational backing of a local and international network of investors with relevant experience in the areas of management and investment in companies.
Our investor group has completed more than 150 transactions, investing more than 3.2 billion euros in capital, and has managed more than 50 companies. They are committed to supporting partners throughout the entire process, both during the investment discussions and during the management of the company.
Values and reputation are our main assets.
We invest and work alongside entrepreneurs through responsible leadership. Our vision is to create better companies, returns for our investors and value for society.
Honesty
Continuity
Effort
Vision
We are a responsible investor. Our valuation criteria takes into account how to improve our impact on the three ESG metrics: Environmental, Social, and Corporate Governance.
Contact
If you are the owner of a company, an intermediary or would like to know more about Luceiro Capital, please do not hesitate to contact us.
We will be happy to assist you, with the utmost confidentiality and discretion.