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After several years in Colombia working in investment banking, running his own industrial business, and serving as CEO of the rapidly growing e-commerce company Linio Group and a family-owned firm, Vagn Knudsen Salazar launched KG Capital in early 2023. The search fund was created to identify a potential acquisition in Spain, with the backing of investors such as Cabiesa Capital, Moonbase Capital, Alza Capital Partners, AIJ Global, Scipio Holding Group, ONEtoONE Asset Management, Turtle Capital, among others.
Following nearly two years of search, Vagn has successfully acquired Plásticos Hernanz, a company specializing in plastic injection molding, for under €10M. The transaction was led by Beka Finance, with additional investors including Whitehole and several industrial investors from the Basque Country. The Hernanz family will retain a minority stake in the company and has facilitated part of the deal through vendor loan financing.
Founded in 1970, Plásticos Hernanz is a light manufacturing company focused on producing reusable plastic cups for the HoReCa (Hotel, Restaurant, and Catering) sector and for events. The company, which employs around 25 professionals, also manufactures plastic balls for vending machines. It has experienced significant growth in recent years, reaching a market share of over 20% in the reusable plastic cup segment in Spain. In 2023, the company reported revenues of €8.3M and an EBITDA of €3.6M.
The objective is to double sales within the next 4–5 years, driving international expansion and seeking one or two add-on acquisitions to accelerate growth.
DD: RSM / Legal: Bufete Barrilero y Asociados
