Apollo buys 49% of Primafrio

Apollo buys 49% of Primafrio

The infrastructure division of the Apollo fund has bought 49% of the Spanish logistics company Primafrio.

This investment will serve to "accelerate the company's strategic growth plans, including investment in its infrastructure network and further international expansion," they point out from the fund. Primafrio operates 45 logistics centers in more than 25 European countries.

The founders of the company, the president, Juan Conesa, and the CEO, José Esteban Conesa, will continue to be majority shareholders and will continue to lead the course of the company.

The transaction is subject to certain regulatory approvals and is expected to close in mid-2022. Evercore and Linklaters advised Primafrio, while Ashurst and Paul, Weiss, Rifkind, Wharton & Garrison acted as advisers to Apollo.

Dylan Foo, Co-Head of Infrastructure at Apollo, explains that "in making this investment, we were attracted by Primafrio's scale, resilience and operational excellence, as well as its strong commitments to sustainability and the energy transition in the energy sector. transportation and logistics, which are key priorities for Apollo.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!