Aureos Invests in Costa Rica

Private equity shop Aureos Capital has acquired a 48% stake in a Costa Rica’s Adalta, a manufacturer of house and car cleaning products and insecticides. The deal is part of a management buyout. Partner Jose Ulate tells LatinFinance that Adalta is a new company emerging from the management buyout of the commercial division of Corporacion CEK, a manufacturing and retail company. He adds that Aureos invested $450,000 and the management of the unit invested the remainder, which he does not disclose. He also says the deal was financed with equity from Aureos’ Emerge fund, which originally had a $21m warchest and is 40% invested. Aureos Capital specializes in providing expansion and buyout capital to unlisted midcap businesses across Asia, Africa and LatAm. It has over $1.2bn in assets under management worldwide.