Morales & Besa advised a subsidiary of the Accel KKR group in the acquisition of a majority stake in Endalia, S.L., a Spanish HR management company

January 14, 2021

Morales & Besa advised Foragola, S.L., a subsidiary of the Accel KKR group in the acquisition of a majority stake in Endalia, S.L., a Spanish HR management company. This is the first investment made by the Accel KKR group in Spain.

The operation consisted of the sale of social rights, together with a series of other agreements, such as a shareholder’s agreement, employment contract and a Rollover structure in the purchasing company. Additionally, the financing for the acquisition was provided by Banco Santander, S.A.

It is relevant to note that this transaction was led, from the legal perspective, by Morales & Besa, in its first foray as legal advisor in a transaction that did not include Chilean factors, but in which it made use of its experience in cross-border M&A transactions and on the usual standards and conditions of the Accel KKR group in Latin America.

The team that participated in this operation was led by partner Michel Diban with associates Sebastián Nieme and Ignacio Vargas.