GED

GED is an independent private equity group founded in 1996, operating primarily in the Iberian Peninsula and South-Eastern Europe. With a focus on the middle market, GED manages over €300 million across several private equity vehicles, engaging in both private equity and private equity-real estate sectors. The firm seeks to maximize portfolio value through a buy-and-build strategy, targeting medium-sized companies in Romania, Bulgaria, Spain, and Portugal that have the potential to become regional leaders. GED also pursues opportunistic real estate investments in South-Eastern Europe, emphasizing sectors such as communication, transport, energy, and mobility. The firm has established a strong track record in these regions, supported by offices in Madrid, Seville, Bucharest, Sofia, and Oporto. Additionally, GED manages specialized funds that target specific sectors, including healthcare technology, renewable energy, and consumer products, investing in companies with defined financial profiles.

Rafael Lopez Armenta

Partner

Jorge Juliani Aznar

Partner

Josep Bono

Associate

Enrique Centelles Echeverria

Chairman

David Velazquez Gomez

Partner

Javier Gonzalez

Operating Partner

Maria Torrecillas Gonzalez

Investment Director

Félix Guerrero

Founding member and Vice Chairman

Víctor Macías Hernández

Partner

María Jesús San Pablo

Partner

Joaquim Lopes

Managing Partner

Nuria Oses Mugica

Partner

Victoriano de Navarrete

Managing Partner

Enrique Satrústegui

Managing Partner, Private Equity

Rafael Trebolle

Partner

Juan Puertas Vázquez

Partner, Finance Director and Investor Relations

30 past transactions

Galgus

Seed Round in 2022
Galgus is a company highly specialized in research and development of wireless optimization software to reduce interference and improve throughput especially in environments with high density of users (IoT included) and WiFi networks. Our WiFi optimization software is called Cognitive Hotspot Technology (CHT) and converts regular WiFi routers in cognitive intelligent WiFi routers that can cooperate with neighboring routers to jointly optimize WiFi performance in real-time applying machine learning and distributed intelligence techniques. As a result, performance of WiFi networks can be increase by up to 5 times, while also reducing interference levels and power consumption by 40%. Our company has a team of 34 people, 27 of which are telecom engineers and 3 PhDs in telecommunications. We have self-funded our growth, growing from 2 founders to a team of 34 people in than 4 years, with an accumulated revenue of 2.4M€ (approx. 2.63 MUSD). CHT is a proven technology in vertical markets such as commercial aviation, hotels, convention centers, museums, cruise ships, buses, etc. The next big vertical market is the residential market.

TroopTravel S.L.

Series A in 2021
TroopTravel S.L. is a travel agency founded in 2017 and located in Villanueva del Pardillo, Spain. The company specializes in optimizing meetings and events for large organizations, utilizing Big Data analytics to make informed decisions on logistics. By analyzing factors such as cost, carbon footprint, safety, visa requirements, and VAT reclaim, TroopTravel assists clients in planning efficient gatherings, often resulting in substantial savings of approximately 40%. The agency primarily serves Fortune 500 companies, providing them with a data-driven approach to enhance their event planning processes.

Kushki

Series B in 2021
Kushki is a payment platform specifically designed for the Latin American market, enabling seamless integration and local pricing strategies. Founded in New York City in 2016 by entrepreneurs Aron Schwarzkopf and Sebastian Castro, Kushki connects various payment methods across the region, including credit and debit cards, bank transfers, and cash networks, utilizing over 300,000 physical payment points. The platform offers a comprehensive suite of solutions for e-commerce, mobile commerce, and physical retail, featuring services such as a payment box, recurring payments, smart links, and tokenization. By standardizing the fragmented payment landscape, Kushki enhances operational efficiency, reduces costs, and provides businesses with greater control and transparency in managing their digital payment processes. The company operates in multiple countries, including Brazil, Chile, Colombia, Ecuador, Mexico, Peru, the USA, and Canada.

Kushki

Series B in 2021
Kushki is a payment platform specifically designed for the Latin American market, enabling seamless integration and local pricing strategies. Founded in New York City in 2016 by entrepreneurs Aron Schwarzkopf and Sebastian Castro, Kushki connects various payment methods across the region, including credit and debit cards, bank transfers, and cash networks, utilizing over 300,000 physical payment points. The platform offers a comprehensive suite of solutions for e-commerce, mobile commerce, and physical retail, featuring services such as a payment box, recurring payments, smart links, and tokenization. By standardizing the fragmented payment landscape, Kushki enhances operational efficiency, reduces costs, and provides businesses with greater control and transparency in managing their digital payment processes. The company operates in multiple countries, including Brazil, Chile, Colombia, Ecuador, Mexico, Peru, the USA, and Canada.

Comess Group

Acquisition in 2020
Comess Group is a restaurant chain operator that offers varied catering options to clients. Excellence and good governance, sustainability, profitability, job creation, quality and innovation, internationalization and satisfaction of customers, employees, and franchisees are the company's main values. The company is organized with experience in the sector and with international presence. The company was founded on 1988 and is headquartered in Madrid, Spain.

Pulso

Acquisition in 2020
Grupo Pulso's mission is to bring scientific evidence and knowledge to clinical practice through ongoing medical training and the digital transformation of health processes. We understand health from a global perspective, 360º, where knowledge and technology are at the service of an efficient system that empowers professionals and citizens with greater self-knowledge of their health.

Méderic Ediciones

Acquisition in 2020
Mederic Editions is a publishing company in the field of general health, young and dynamic, with a clear projection of future betting on new techno logías y methodologies, which has professionals passionate about their work, specialized in the field of health. Our range of services is transformed into products for the dissemination of medical knowledge useful for a wide range of clients in the health environment, both public and private: Professional Associations, Scientific Societies, Patient Associations, Health Departments, Pharmaceutical Industry, and companies or health institutions.

Viguera Ediciones

Acquisition in 2020
Viguera Ediciones is specialised in on-line neurology masters for doctors "B2C".

Grupo OM

Acquisition in 2019
In Grupo OM our specialty is to provide Solutions for Merchandising, Equipment and Visual Communication. OM Group we are dedicated to visual communication in retail. We offer innovative solutions to develop each project from beginning to its implementation at the point of sale, offering a solution for every client.

Aircraft Interior Refurbishment España

Acquisition in 2019
Aircraft Interior Refurbishment España specializes in the maintenance, repair and overhaul of aircraft cabin interiors.

Habock Aviation

Acquisition in 2018
Habock Aviation Group is to provide our customers with the best possible service, guaranteeing the highest standards of safety, quality and commitment in the execution of operations, both nationally and internationally. Innovation, training, permanent improvement and respect for the environment are key factors on which the company bases its strategy of growth and consolidation of activity.

Vitro Group

Acquisition in 2017
Vitro Group is a manufacturer of equipment, reagents and software for in-vitro diagnostics.

Gestion Tributaria Territorial

Acquisition in 2017
Gestion Tributaria Territorial specializes in tax management and information services for government units. The company offers a range of services, including tax collection, inspection, and the management of traffic sanctions. It focuses on collaborating with public administrations to modernize and optimize tax and revenue management processes. Additionally, Gestion Tributaria Territorial provides tax advising, consulting, and training, along with the design and management of information systems. Through these services, the company aims to enhance the efficiency and effectiveness of tax administration for independent entities and government bodies.

Cubers Premium

Acquisition in 2017
Cubers Premium manufactures and markets Cubers ice cubes, the most comfortable and economical alternative for the hotel and catering industry.

Araven

Acquisition in 2017
Araven S.L. designs, manufactures, and sells household and foodservice products, as well as retail equipment. The company offers household products, including kitchenware, storage, and cleaning products; foodservice products, such as preservation, handling, service and display, transportation, and cleaning products; and retail equipment, which comprise shopping cart loops, wheeled baskets, hand baskets, accessories, deli baskets, and fresh food equipment. It sells its products through a network of agents and dealers in Spain and internationally. Araven S.L. was founded in 1976 and is based in Zaragoza, Spain with branch offices in Mexico and the United States.

Discefa, S.L.

Acquisition in 2016
Discefa, S.L. is a prominent company based in A Coruna, Spain, specializing in the processing and distribution of high-quality frozen octopus. Founded in 1982, it has established itself as the largest player in its sector. As of 2015, Discefa reported a turnover of €62.3 million and an EBITDA of €14 million, reflecting its strong financial performance. The company focuses on delivering premium products to meet the demands of its customers in the seafood market.

FASE

Acquisition in 2011
FASE – Estudos e Projectos S.A. is a company founded in 1979 and geared to offering a complete engineering and architecture service. The suitable combination of technical expertise, methodology and experience enables FASE to ensure the satisfaction of its customers needs, helping them to achieve the benefits arising from the the support given by one of the largest national engineering companies. A main contributory reason for this is that the company has private shareholders and it is not connected with any builders, installers and suppliers of goods and equipment. The services provided cover the different stages of the project development, namely Consultancy and Assistance to the Owner, the elaboration of a wide range of Studies and Projects, as well as all the activities associated with Project Management.

Megafood SA

Private Equity Round in 2011
Megafood S.A. operates a Burger King Franchisee restaurant in Southern Spain. The company was founded in 2002 and is based in San Sebastian de los Reyes, Spain. As of July 2, 2018, Megafood S.A. operates as a subsidiary of Restaurant Brands International Inc.

Continental Hotels

Private Equity Round in 2011
S.C. Continental Hotels S.A. operates a network of hotels across key Romanian cities, including Bucharest, Sibiu, Cluj-Napoca, Tîrgu-Mureș, and Constanța. Established in 1991 and headquartered in Bucharest, the company provides a range of accommodations, from rooms to suites, complemented by amenities such as restaurants, bars, and facilities for private and corporate events. Continental Hotels aims to deliver high-quality lodging and services in an elegant atmosphere, catering to diverse customer needs, whether for leisure or business purposes. With a focus on comfort and style, the hotel chain blends tradition with modernity to ensure a pleasant experience for all guests.

TEB Energy Business

Acquisition in 2010
TEB Energy Business is a distributor and servicer of gas engines in Romania.The company's offerings include consultancy for the implementation of cogeneration projects, delivery of gaseous fuel engines, supplies for cogeneration engines and preventive and corrective maintenance, enabling clients to get access to energy efficiency solutions.

Bio Oils

Private Equity Round in 2010
Bio-Oils is a company that was created in 2005 and is mainly engaged in the production of biodiesel. It owns a Plant in Huelva, Andalusia, which is one of the most efficient in Spain, benefiting from a strategic location, with pipeline connections to vessels, trains and tankers loading docks.

Paravion

Acquisition in 2010
Paravion started as the online agency spinoff of a local Romanian travel agency.

Infopress Group

Acquisition in 2010
Infopress Group S.A. is a printing company based in Odorheiu Secuiesc, Romania, specializing in high-volume publications and commercial products. Established in 1990, the company offers a comprehensive range of services, including pre-press, printing, finishing, and integrated mailing. It focuses on publication printing for color magazines and commercial printing for various industries, such as retail, furniture, and telecommunications. Infopress also provides printing for catalogs, advertising materials, and specialized products like personalized and shrink-wrapped items. The company serves a diverse clientele across Romania and several European countries, including Germany, the Netherlands, Belgium, France, Ukraine, Bulgaria, Serbia, and Hungary. Infopress Group has achieved a prominent position in the market by investing in advanced technologies.

Total Eurobusiness

Acquisition in 2009
Total Eurobusiness is a cogeneration company. TEB is focused on complete cogeneration projects, from energy audit to wholesale of cogeneration machinery and equipment.

Diamedix IMPEX

Acquisition in 2009
S.C. Diamedix IMPEX S.A. distributes medical devices for in-vitro diagnosis and dental equipments. The company services Romania's private laboratories, hospital laboratories, blood banks, and veterinary laboratories. S.C. Diamedix IMPEX S.A. was founded in 1996 and is based in Bucharest, Romania.

Happy Tour

Acquisition in 2007
Happy Tour is a company dedicated to business and leisure travelers. The agency has its own network of associated agencies, which are developed at national and international level. Currently, the Happy Tour agency has a network of 64 affiliates and 84 outlets in 50 cities in Romania, Bulgaria and Moldova, and since 2015 Happy Tour has offices in Turkey.

Cellulem Block

Acquisition in 2007
Cellulem Block is a provider a wide and diverse range of beauty and health services.

Fama

Acquisition in 2007
FAMA produces and distributes under its own label and also distributes international Premium brand products. The company is located in the Varna region.

Corporacion Dermoestetica

Acquisition in 2005
Corporación Dermoestética, S.A. provides medical aesthetic and cosmetic surgery services in Spain and Portugal. The company was founded in 1979 and is based in Valencia, Spain. As per the transaction announced on July 21, 2015, Corporación Dermoestética, S.A. operates as a subsidiary of Cosmewax S.A.