Keys to accessing European projects funding
Keys to accessing European projects funding Marta MartínSettings The Horizon Europe programme is the European Union’s Research and Innovation (R&I) Framework for the period 2021–2027,
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Our Due Diligence report for Suma Capital shows the current situation and the path that Berria Bike S.L. will now have to follow with Suma Capital to improve its positioning in sustainability.
Suma Capital enters the bicycle industry with Berria Bikes, a company from Castilla-La Mancha founded in 2012 by former Spanish-Swiss professional cyclists David and José Vitoria. Through the mid-sized venture fund SC Growth II, the Barcelona-based private equity firm has taken a 49% stake in Berria in a combined buyout and capital increase deal that has been closed for approximately €15 million.
Following the agreement with Suma, Berria will create a six-member board of directors, 50/50 between the Vitoria brothers and the management company, which frames this operation as part of its commitment to sustainable investments. According to Manuel Cebrián, partner of the firm, Suma Capital will provide the company with “human and material resources to maintain healthy growth both organically and through acquisitions and by implementing the best financial, organisational and environmental practices”.
Omega Financial Partners and Gómez-Acebo y Pombo have advised Berria on the transaction, while Suma Capital has been advised by KPMG, PwC Strategy, Euro-Funding and Bufete Castilla Abogados.
Keys to accessing European projects funding Marta MartínSettings The Horizon Europe programme is the European Union’s Research and Innovation (R&I) Framework for the period 2021–2027,
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