Nazca Capital, a private-equity firm specialised in unlisted Spanish SMEs, has acquired over 35% of the capital of 226ERS, the Alicante-based sports-nutrition manufacturer.

226ERS is a sports-nutrition brand with a focus on endurance sports and healthy eating. It is the official supplier of sporting events including the IRONMAN European Series. The company name comes from the number of kilometres that makes up an Ironman triathlon.

Nazca has made this investment through its fifth fund, Nazca V, which in 2019 raised EUR150m (US$160.8m) to invest in Spanish SMEs.

The Alcoy company closed 2022 with revenues in excess of EUR7m, having grown at an annual rate 50% in recent years.

Jesús Sánchez Bas, CEO and founder of 226ERS, and Ángel Sevillano, CMO and co-owner, will both remain majority shareholders and stay at the helm of the project.

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“The entry of Nazca is a great step for us, given that it consolidates the successful trajectory of the brand in recent years, and provides the funds and means we need to develop our ambitious strategy of national consolidation and international growth and expansion,” the 226ERS partners said.

Carlos Carbó and Celia Pérez-Beato, partners of Nazca, added: “226ERS brings together the ingredients we are looking for with our Small Cap strategy: a unique company in a high-growth niche, in which our partners share the ambition to develop a high-growth project, including international expansion, commercial channel reinforcement and strengthening of the supply chain”.

Nazca was advised by PwC and Garrigues on the transaction while 226ERS was advised by AKRE Partners and Broseta.

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