European mezzanine house Intermediate Capital Group (ICG) has opened a permanent office in Madrid. The Madrid office has a broad sector focus and is able to do mezzanine transactions from €10m up to €400m. In a landmark transaction last year ICG invested €75m in the Spanish company Codere, as part of Codere’s financial restructuring and expansion plan. This was the largest mezzanine financing ever in the Spanish market.
The Madrid office is operated by a local team of three people and is strengthened by its close proximity to London, where the 40-strong executive team will be available to Spanish clients.
Jose María Vegas Cordobés is the investment director heading the Madrid office; Elena Gimeno de Esteban is investment manager and Adriana Marily González is office manager.
José María Vegas Cordobés, ICG investment director, said: “Having operated so successfully in the Spanish market in 2003, we are delighted to open a permanent office in Madrid. It is our view that involving ICG directly at a preliminary stage of a transaction can bring greater flexibility and strength to private equity transactions, refinancings and restructurings. We aim to establish ourselves as the mezzanine supplier of choice for private equity houses and corporates in the Iberian region.”
Intermediate Capital Group Madrid can be found at Paseo de la Castellana, 51 – 3ª Planta 28046, Madrid.