Suma Capital receives ACG Award for the sale of its investee Turris
Suma Capital, a leading multi-asset firm in sustainability funds, has been honored at the ACG Awards 2022 in the Mid-Market category for the sale of the majority stake in Turris to Realza Capital.
Suma received the award on July 5, 2023 at a ceremony held at the ESADE Forum in Barcelona and organized by ACG Barcelona, a reference association for professionals and entrepreneurs in the corporate finance sector. These awards recognize the best Mid-Market and Large Volume Corporate Transactions carried out in Catalonia in 2022.
Enrique Tombas, founding partner and president of the firm, accepted the award on behalf of the entire Suma Capital team. “To receive this recognition from such an important association for our sector as ACG is a source of pride for our firm. The fact of being recognized for the sale of our investee Turris, strengthens our commitment to profitability for our investors, passing the baton to another reference fund in Spain to help realize the growth plans of Turris”.
For the selection criteria, the jury took into account the following milestones: the management team, backed by Suma Capital, has doubled the number of stores and has developed and promoted online sales through its own e-commerce channel. In addition, the company has continued to develop a socially responsible strategy, which has also been reflected in a substantial increase in turnover, enabling exceptional returns for the fund.
Suma sold its stake, but its successor fund, SC Growth Fund II, reinvested in the shareholding along with Realza Capital, which took a majority stake to support its expansion; the founder and current chairman, Xavier Barriga, and Manel Sellarés continue to be key partners and hold a position on the board of directors. The project continues to be led by Patxi Fernández, the current CEO.
Suma Capital has proven to have fulfilled its objective of supporting the company’s expansion plan by remaining faithful to its purpose of dignifying the artisan bakery trade and bringing the best product to the maximum number of consumers.