The Dutch investment fund Standard Investment has taken a stake in the capital of Gasexpress with the aim of strengthening the company’s expansion plan in Spain, according to both companies in a joint statement.
Gasexpress will keep its shareholders --José Manuel Costa, Jorge Pomar and Jose Vicente Jauzaras-- at the head of day-to-day management and with a significant stake in the capital.
The transaction includes Gasexpress’s network of own service stations, Liquids Express, the group’s fuel transport company, as well as the management and development structure in charge of driving both the own and franchised network.
The automated gas station company plans to carry out an investment plan of 40 million euros over the next three years, aimed at opening new service stations and buying and modernizing already operational facilities. With this program, the company sets itself the goal of reaching 120 stations in 2030.
At present, Gasexpress operates 57 service stations located in Comunidad Valenciana, Madrid, Aragón, Murcia, Galicia, Castilla y León and Castilla-La Mancha, and contemplates extending its presence to Baleares, País Vasco, Cantabria and Cataluña.
Likewise, the projected growth by Gasexpress contemplates the creation of 75 new jobs, which will be added to the approximately 90 current employees.
As part of the operation, Gasexpress has been advised by Banco Santander and Delta Asesores, while Standard Investment has had the advice of Uría Menéndez and PwC. The financing has been provided by Zenon.