Financing the growth of a company with benefits. The destination of the funds can be directed to the acquisition of fixed assets, increase in working capital for the development of new products and access new markets. They are investments with higher volume and less uncertainty about the existence of historical data.
The firm relieves part of the current shareholders. It is common in family businesses and in situations of succession. It also occurs in some asset sales opportunities or branches of non-strategic activity of very large companies, where its operators or others seeking external financial support in provate equity within a demerger and subsequent independent development.
Acquisition of companies in which a substantial part of the price of the transaction is financed with borrowings, partly secured by the assets of the acquired company themselves, and the other with capital contributed by investors of the deal, who become owners. In these transactions it is usual that the target company has a consistent, stable and enough highcash flow to cope with the payment of interests and repayment of the principal debt.
Investment in companies in difficulty for a long period of time and needed and financial resources to implement major changes needed to survive. Operational restructuring typically involves covering all aspects of the business (facilities, personnel, products, …)
Private Equity investment is directed to already established companies or in a growth stage.
It can be divided into:
- Growth capital
- Replacement
- Leveraged buyouts (LBO)
- Capital restructuring or turnaround
Formas de desinversión
Cuando las empresas han madurado y consolidado el Plan de Negocio previsto, la entidad inversora desinvierte. Las principales estrategias de salida de una inversión de capital privado son:
- Venta a un inversor estratégico: Compañías industriales nacionales o internacionales que identifican estas oportunidades de adquisición, que probablemente no hubieran tenido en cuenta antes por su escasa dimensión inicial.
- OPV (Oferta pública de venta) de las acciones de la compañía en mercados organizados, que igualmente requieren de una dimensión muy superior para tener éxito.
- Recompra de acciones por parte de la empresa o antiguos accionistas.
- Venta a otra entidad de capital privado, generalmente de mayor tamaño.
La inversión de capital privado puede realizarse en cualquier etapa de la vida de una empresa. Partiendo de esta particularidad se establecen los dos términos fundamentales que hacen referencia al sector: Venture Capital y Private Equity, ambas tienen elementos comunes entre sí, tales como la participación de un inversor profesional y la aportación de capital y gestión en compañías que no cotizan en bolsa pero también presentan unas características propias.