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MERCAPITAL ACQUIRES 25% OF CLECE AND PERMIRA STAYS OUT.
The private equity firm Mercapital has taken a 25% stake in Clece, a subsidiary of cleaning, maintenance and gardening services of ACS.
The deal was designed and agreed for private equity firm Permira and Mercapital would take 100% of Clece for an amount of €608 million, but finally Permira’s entry has not gone ahead. The deal has been blocked by several months for the difficulty in raising banking funds to complement the equity contribution (see news).
Clece covers the whole country with a workforce of about 50,000 employees. In 2010 achieved a turnover amounting to €1,051.15 million, a 3.1% increase over the previous year and accounting for 7% of the total turnover of ACS in 2010.