MA-TA-ASSOCIATES

TA Associates, a leading global growth private equity firm, today announced that it has completed a majority investment in Masquepet S.L. (“Kiwoko”). Corpfin Capital Fund III (“Corpfin Capital”) and Prince Capital Partners, S.C.R., S.A. (“Prince Capital”) have exited their investment in Kiwoko, selling their 89.4% stake to TA Associates and the founders of Kiwoko. Financial terms of the transaction were not disclosed.

Founded in 2007 by Álvaro Gutiérrez, Javier Osa and Emilio Goyanes, and headquartered in Madrid, Kiwoko is the largest chain of pet care specialty retail stores in Spain. Over the last nine years, and with the financial support of Corpfin Capital and Prince Capital, the founders have grown Kiwoko to become Iberia’s sector leader with approximately 90 stores in Spain and Portugal.

Prince Capital and the founders provided Kiwoko with seed capital to start the business and, in February 2012, invited Corpfin Capital to provide the growth capital required to continue to grow the company. Since then, Kiwoko has successfully implemented an ambitious expansion plan that has resulted in the opening of 43 new stores and 40 vet clinics, the acquisition and integration of several smaller chains, including Mr. Guau and Zona Mascota, and the development of a full online business. During this period, Kiwoko generated approximately 700 new jobs and achieved more than 3,000 animal adoptions.

With TA Associates’ support, Kiwoko will seek to capitalize on significant growth opportunities in the Iberian pet care market.

“Kiwoko’s impressive expansion and notable business momentum is a perfect fit for TA’s growth-focused consumer investment strategy,” said Patrick Sader, a Director at TA Associates who will join Kiwoko’s Board of Directors. “We are delighted to partner with Álvaro and Javi to support Kiwoko in its next stage of organic and acquisitive growth.” Christopher Parkin, a Managing Director at TA Associates, will also join Kiwoko’s Board of Directors.

"It has been a privilege for Corpfin Capital to have the opportunity to partner with Prince Capital to support such an extraordinary team of entrepreneurs as Kiwoko’s founders,” said Álvaro Olivares, the Partner at Corpfin Capital responsible for Kiwoko. “TA Associates’ involvement will help Kiwoko rapidly develop to its full potential.”

"We are pleased to have supported Kiwoko through its start-up stage and to have partnered with Corpfin Capital to develop the company into an industry leader led by a talented, engaged management team,” said Jesús Torres, CEO of Prince Capital. “Kiwoko is exemplary of the opportunity for growth and investment in the Spanish retail sector, and we believe TA Associates’ guidance will further the company’s ability to compete with the large European market players.”

"We are very grateful to Corpfin and Prince for their trust and support during the last eight years, and are confident that TA’s support will allow us to expand Kiwoko’s leadership position, helping Spanish and Portuguese pet owners improve the lives of their pets,” said Javier Osa and Álvaro Gutiérrez, co-founders of Kiwoko.

Latham & Watkins served as legal counsel to TA Associates. Alemany, Escalona & De Fuentes served as legal advisor to Corpfin Capital and Prince Capital.

About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 460 companies around the world and has raised $24 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the business services, consumer, financial services, healthcare and technology industries. More information about TA Associates can be found at www.ta.com .

About Corpfin Capital
Corpfin Capital is the longest established independent private equity firm in the Spanish market with more than 25 years of experience. Since its founding, Corpfin Capital has successfully managed c. €700 million with an investment strategy focused on the local and international expansion of Spanish SMEs across a wide variety of sectors. Corpfin Capital is currently investing Corpfin Capital Fund IV, from which it has already completed various acquisitions such as: Logiters (number two contract logistics company in Spain), El Fornet (fast growing regional coffee and bakery chain), Preving Group (build-up in employee health and safety compliance services), Secna (global producer of natural colorants for the food industry), and Arenal (fast growing hygiene, beauty and health specialty retailer).

About Prince Capital Partners
Prince Capital Partners is the first and only private venture capital company in Asturias. It was established in February 2008 with the vocation of making the necessary financial resources available to Spanish companies so that they can make the most of their potential for growth and expansion, prioritizing companies that are undergoing a process of business consolidation. Currently, Prince Capital is a shareholder in Azvase (a company offering services for the elderly), Coonic (the communication agencies and marketing online group), and Huni Hotel School (educational project focused on tourism). Prince is managed by Torsa Capital, SGEIC SA, an entity that has begun the fundraising of a new private equity fund and expects to have it operational by the end of the year.

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Contact:

TA Associates
Marcia O’Carroll, 617-574-6796
mocarroll@ta.com
or
BackBay Communications
Stephen Fishleigh, +44-203-475-7552
stephen.fishleigh@backbaycommunications.com
or
Philip Nunes, 617-391-0792
phil.nunes@backbaycommunications.com