The Explorer III Fund, one of the investment vehicles managed by the Portuguese company Explorer, sold its holdings in the companies Totalmedia, Grestel and Espaço Casa, the fund manager announced in a statement. “These were among the companies with the highest return in the Explorer III Fund, which went through a very challenging economic context”, underlined the partner and president of Explorer, Elizabeth Rothfield.
The sale of those partnerships, adds Elizabeth Rothfield, “has yielded a remarkable return for investors and is testament to the resilience and potential of the three companies.”
The most recent transaction was the sale of Totalmedia, which in 2020 reached a turnover of 95 million euros, to a group of private investors, led by the current management team. Fundo III held a stake close to 100% of the share capital of this distribution and logistics company. This company was acquired by Fundo Explorer III at the end of 2010, the statement says.
Earlier, in July, Explorer III’s 70% stake in Grestel was sold, a position acquired by the management team, led by the company’s minority shareholder and CEO, Miguel Casal. The acquisition of Grestel by Fundo Explorer III was carried out at the end of 2014.
And in April of this year, Explorer got rid of the 62% it had in Espaço Casa, a retail home products company, that Fundo Explorer III had acquired in 2014.
In its statement, Explorer also informs that it made the first investment in its Fundo IV, buying 70% of the Portuguese plastic recycling company Micronipol. Fund IV was created in 2018, with 100 million euros to invest in the acquisition of shares.
Source: Expresso by expresso.pt.
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