Livingstone advises Permasteelisa Group on divestiture of Spanish subsidiary to Mutares

Livingstone has advised Permasteelisa Group on the divestiture of Spanish subsidiary Permasteelisa España to Mutares SE & Co. Permasteelisa Group, an established world leader in the facade industry, including architectural envelopes.

Based in San Fernando de Henares (Madrid), Permasteelisa España operates in Spain and Portugal. The company specializes in the design, engineering, project management, manufacture, installation, and after-sales service of architectural envelopes. The team of 80 employees achieved a turnover of approximately 22m EUR (26m USD) in 2020.

Permasteelisa España has contributed significantly to the construction of notable skyscrapers in Spain, becoming one of the most recognized ‘players’ in the sector thanks to projects including Torre Caleido, Torre Espacio, Torre de Cristal, Torre Agbar, Torre Mare Nostrum, and Hotel Arts, amongst others.

Mutares is a German private equity fund whose focus is acquiring subsidiaries that are no longer a core business of larger corporations. Mutares will integrate Permasteelisa España into portfolio company Donges Group, a leading full-range supplier of bridge and steel construction and roof and façade systems in Europe, strengthening its expertise and expanding its footprint. 

Klaus Lother, CEO of the Permasteelisa Group, stated, “This operation builds on Permasreeleisa’s strategic path to continue as a leading player in the sector. We appreciate Livingstone’s professionalism throughout the process. They were excellent advocates.”

“It has been a pleasure to work with such a professional team at the Permasteelisa Group and help them focus further their global strategy. We are delighted to have participated in another international transaction and are certain the Donges Group and its financial partner Mutares is the ideal partner for them,” said Jorge Tuñí, Partner at Livingstone.