CS Corporate Advisors ha acted as sole advisor to the management team of Venca on the acquition of the company through an MBO from Grupo 3SI.

Spanish online fashion e-retailer Venca has announced that the management team, led by CEO Jordi Gonzales, has acquired the company from 3Suisses International. The management buyout transaction comes a year and a half after previous owners put Venca on the market. The operation closed on 17 January, so Venca is now owned by Digital Lola, the company formed by the current management team.

In addition to Jordi Gonzales, the new company is being led by financial and HR director Paz Usandizaga, ICT director Jordi Badia and operations manager Joan Alemany.

CEO Jordi Gonzales said the operation is a “magnificent opportunity to build an independent project that is strong and has great potential for the future.”

“This will allow us to accelerate the digital development and the internationalization of the business, two fundamental axes that will help us position Venca as one of the top five fashion companies in its segment,” he added.

Venca is one of Spain’s most successful e-commerce fashion companies, offering apparel, accessories and footwear for men, women and children, as well as home accessories. It was owned by Groupe 3SI since 1988. Its financial situation is “stable and strong” after ending 2016 with sales of 53 million euros ($56 million). Revenue has been consistently growing for the past three years, rising from 49 million euros in 2015 to 50 million euros in 2015. Last year saw sales increase by 6% to 53 million euros. The new ownership plans to position Venca as a relevant 100% Spanish brand, and as a leading company in the Spanish fashion scene and e-commerce sector. “After working several years on the repositioning and transformation of Venca, the company is prepared to be an important player in online fashion both inside and outside Spain,” commented Gonzales.

Venca’s website has more than 2 million visitors a month, and accounts for 50% of the company’s revenue. The brand has a presence in Spain, France, Belgium, Portugal and Russia, among others.