22/11/2024

Henko invests in Balflex to support future growth

  • Balflex is a global manufacturer of high-pressure hydraulic components, with sales in over 35 countries and distribution operations in six key markets
  • Henko aims to support Balflex in its next phase of development, strengthening its global presence
  • Balflex recently inaugurated a new manufacturing facility in Portugal, the only hydraulic hoses plant in Iberia

Porto (Portugal), November 22nd, 2024. – Henko Partners, an Iberian private equity firm, has acquired a majority stake in Balflex, a leading manufacturer of hydraulic components. The acquisition will support the company’s ongoing international expansion, drive further product innovation and strengthen the company’s manufacturing footprint.

Founded in 1963 by Mr. Basilio Alves, Balflex has grown to become a relevant player in the hydraulics industry, providing a comprehensive range of products to serve both the hydraulics aftermarket and OEMs. Headquartered in Porto, Balflex operates in over 35 countries and has established distribution centers in 6 major markets: Portugal, the United States, Germany, Brazil, Chile and Peru. The United States is currently the company’s fastest-growing market, consolidating its global expansion efforts.

Balflex is running two manufacturing facilities, in Curitiba, Brazil, and the recently inaugurated production plant in Pindelo, Portugal, dedicated to the production of hydraulic components. Both facilities reflect Balflex’s commitment to optimizing production efficiency and delivering high-quality products to its global clients.

Mr. Carlos Alves, Mr. Francisco Alves and Mr. David Coelho, the current shareholders of Balflex, will remain invested in the company and continue to support its growth. Additionally, the company has recently incorporated Mr. Toni Figueiredo as the new Chief Executive Officer. Mr. Figueiredo brings a wealth of experience in the hydraulics sector, having held senior leadership positions in global companies in the hydraulics industry.

Mr. Carlos Alves, Mr. Francisco Alves and Mr. David Coelho, existing shareholders of Balflex, commented: “This partnership with Henko will enable Balflex to continue its trajectory of growth, particularly by expanding into new regions and optimizing our operations. We are excited about the potential this collaboration brings to our team, our customers, and our company’s future.”

Mr. Lars Becker, partner at Henko Partners, said: “Balflex has demonstrated remarkable growth in recent years. We are thrilled to partner with the company and support its growth ambitions. Balflex is a unique company with a strong heritage, and we are looking forward to build on this solid foundation”

The transaction has been advised by Clearwater International and Miranda & Associados, as financial and legal advisors to the shareholders of Balflex, and PwC and Bird&Bird, as financial and legal advisors to Henko.

About Balflex:

Balflex is an international manufacturer of high-pressure hydraulic components. Established in 1963 in Porto, Portugal, the company serves over 35 countries, with production facilities in Portugal and Brazil, and distribution operations in the US, Brazil, Portugal, Germany, Chile and Peru. Balflex is committed to delivering high-quality products for the aftermarket and OEM sectors, with a focus on innovation, operational excellence, and customer satisfaction.

For more information, visit www.balflex.com.

About Henko Partners:

Henko Partners is an independent private equity investor focused on supporting outstanding Spanish and Portuguese mid-cap companies in markets with long-term growth trends. The firm partners with strong entrepreneurs and management teams to develop successful businesses and actively engages with its portfolio companies to execute long-term growth plans. As entrepreneurs for entrepreneurs, Henko aims to support companies in accelerating growth and transforming them into more resilient and sustainable businesses. Henko is a responsible investor committed to strict environmental, social, and good governance principles. We aim to contribute to the long-term success of our investors and to a sustainable society.

For more information, visit www.henkopartners.com.


See press notes

Press coverage


Share:

Atrás

· Private equity experience across Spain, Portugal, UK and Germany.

 

· Previously partner at Sherpa Capital, Spanish Private Equity with > €350m of assets under management (2020) focused on SMEs in Spain and Portugal.

 

· Partner at DPE Deutsche Private Equity, private equity fund targeting SMEs with €1.2bn of assets under management (2017).

 

· Morgan Stanley Capital Partners.

 

· MPA Harvard University, BSc from LSE London School of Economics.

Lars Becker

Partner

· Former EY Strategy and Transactions Analyst, providing corporate finance solutions in strategic advisory, valuation, m&a, financial restructuring and due diligence.

 

· Previous experience at UBS and Deutsche Bank.

 

· Master in Finance from IE Business School.

 

· Double degree in Business Administration and Actuarial Science from URJC.

Daniel Largo
Analyst

· Previously Investment Associate at Sherpa Capital.

 

· Previous experience at BBVA and Amazon.

 

· Master's Degree in Industrial Engineering from ICAI (Universidad Pontificia Comillas)

Pablo Fernández
Associate

· Extensive experience in finance and management control.

 

· Previous experience as CFO and Client Operations Director at Jones Lang Lasalle, Bouygues and Carrefour, proven ability to implement action plans and process reengineering to improve the company performances.

 

· Degree in Business Administration from Universidad Autónoma de Madrid and MBA by IE.

Vanesa Valentín
CFO

· João has a strong background in M&A advisory services in the Portuguese and Spanish markets.

 

· João started his career at KPMG Portugal providing corporate finance and M&A advisory services and he has also worked at Alantra´s Credit Portfolio Advisory division. 


· João has a MSc in Management and Finance from Cass Business School and a BSc in Business Administration from Católica Lisbon School of Business and Economics.

João Oliveira
Associate

· Extensive private equity experience.

 

· Previously Investment Executive at Sherpa Capital.

 

· Previous experience at Ferrovial and Clearwater.

 

· Business Administration and Management Degree from Universidad de Navarra.

Íñigo Urbón

Director

· Extensive private equity experience.

 

· Previously Investment Associate at Sherpa Capital.

 

· Previous experience at H.I.G. Capital and McKinsey & Company.

 

· Business Administration Degree and MSc in Finance from ESADE Business School.

Jules de Meeûs
Associate

· Extensive private equity experience.

 

· Previously Investment Executive at Sherpa Capital.

 

· Previous experience as an Assistant Manager at Deloitte Corporate Finance, participating in M&A transactions, debt raising and restructuring transactions; and Garrigues, leading Spanish law firm.

 

· Double degree in Law and Business Management (taught in English) from Universidad Pablo de Olavide.

Ricardo Mellado
Vice President