Suma Capital, the Barcelona-based private equity firm, has sold its stake in GEC. Hedima, the consultancy specialised in corporate training and in professional coaching, has bought out 40% of the company. This follows its initial acquisition of 60% of GEC to the private equity funds managed by Suma Capital, in July 2012.
Hence, Hedina now controls 100% of GEC’s share capital.
The transaction strengthens the position of Hedima as one of the leading Spanish consulting firms, specialized in corporate training. This translates into a turnover of approximately 30 Million euros and a workforce of more than 350 professionals, complemented by 700 associated training professionals.
Hedima’s revenues were of 20 million euros pre-acquisition. GEC contributes to the transaction an additional 10 million euros of turnover.
Based in Barcelona, GEC was created originally within the Open University of Catalonia (“OUC”). It used to be jointly owned by the OUC and by La Caixa bank, until 2009. Three years ago, the university and the savings bank sold their stake in the Company to its management team, led by Francesc Fàbregas, and to the Caixa Penedés bank. In January 2010, Suma Capital bought out Caixa Penedés’ 98% stake.
Hedima Group, chaired by Javier Díez, has several offices in Spain: in Madrid, Barcelona and Valencia. Internationally, it is present in Brazil, Uruguay, Mexico, Colombia, France and the U.K. It also has developed international projects in Portugal, Switzerland, Morocco, Senegal, Argentina, Chile, the USA and Canada. The company has more than fifteen years of experience in corporate training across 27 different sectors.