Núter (formerly known as Saprogal), a La Coruna, Spain-based animal feed and nutrition company, has received an equity investment of undisclosed amount from H.I.G. Europe and H.I.G.-Bayside Capital.
Other investors include Spanish private equity firm Mercapital, Grupo Leche Pascual, and Núter’s management team.
The new equity will allow the compny to bolster its balance sheet and to diversify its product range and strengthen its market position in the Iberian market.
Núter currently employs over 500 people and produces over 1 million tonnes of animal feed annually from its 11 manufacturing plants located in Spain and Portugal. The company sells its products to over 40,000 farmers both directly and via 1,500 exclusive distributors.
Núter was formed in 2007 following the merger of Saprogal S.A.U. and Piensos Pascual S.A.U.