The Alicante-based real estate management company Mediterráneo Administración de Fincas, a national leader in its sector, changes ownership. And this time, everything points to a permanent, long-term growth plan. As the company has announced in a statement, the Spanish fund Corpfin Capital, which specialises in investing in medium-sized companies, has taken a majority stake in Mediterráneo, which since 2018 has belonged to the Benidorm firm Skyline Ventures.

Corpfin Capital, which is also part of the shareholding of another Alicante family business, Grupo Marjal (in this case, only in its division of tourist resorts, Alannia, of which it has owned 50% since 2018), has taken a majority stake in Mediterráneo, but it will keep the management team that has led its growth in the last decade, with its CEO Carlos Felipe at the helm. The intention of the Spanish fund, which finances immediately profitable operations, is to promote the expansion of Mediterráneo both organically and through acquisitions.

In this sense, the company from Alicante is a leader in an otherwise highly fragmented sector, so that Corpfin’s roadmap involves ‘fattening up’ its new investee with an acquisition plan for smaller firms that allow it to gain territorial presence (Mediterraneo is well established, especially in the Valencian Community, Murcia, Andalusia, Castilla-La Mancha, and Madrid) and market share. The current CEO of Mediterráneo will maintain his minority shareholding in the group and will continue to lead the company that he has run for more than a decade together with the rest of his team.

The operation, announced by Corpfin, has been advised by Pérez-Llorca, EY, and Garrigues, according to a statement released this Thursday by El Economista. The amount of the transaction has not been revealed, but it must be taken into account that the extinct Caja de Ahorros del Mediterráneo (CAM), founder of the company, sold it to Next Capital for 6 million euros after the intervention of the Bank of Spain, and that the Alicante investment fund recovered the investment by selling it in 2018 to Skyline Ventures, according to sources close to the operation at that time. Mediterráneo’s market value could easily double those numbers right now.

Mediterráneo, which over time has expanded its services and is now a global provider for communities of property owners, was born as such in the 1960s, created by the Caja Alicante. It currently has 27 offices spread across different parts of the country and provides service to a client portfolio made up of more than 5,000 communities.