Mirai opens up capital of subsidiaries Innometal and Ohmnia to public and private partners

Cuatrecasas has advised the Mirai industrial group on opening up the capital of its subsidiaries, Innometal and Ohmnia Electronics, to a combination of a public and private partners. In the context of this transaction, the Basque Government (through its Finkatuz fund), the Vital Foundation and the Carmen Lequerica family office have acquired a 49% stake in both companies.

The entry of these new shareholders reinforces Mirai’s commitment to consolidate and diversify its presence in the electromechanical sector and also ensure that its companies are firmly rooted in the Basque Country. Innometal and Ohmnia Electronics, which together have over 900 employees and a combined turnover of €180 million, have eight factories in the Basque Country and maintain a strong link with local industry, with 50% of their purchases going to suppliers in the region.

The Finkatuz fund, managed by the Basque Institute of Finance (IVF), has contributed €35 million, while the Vital Foundation and the Carmen Lequerica family—through the Irene Carmen Lequerica holding company—have invested €17.5 million each. The Vital Foundation, a shareholder of Kutxabank, has invested in Innometal and Ohmnia Electronics, in line with its commitment to Álava, a region to which both companies will transfer their headquarters and where they have a solid industrial base and 200 employees.

Benefit for the client

The opening up of Innometal’s and Ohmnia Electronics’s capital to public and private partners will enable Mirai to increase its business commitment, diversify its range of products and services, and explore new markets in the field of manufacturing equipment for industry.

“We acted as advisors, coordinating the legal documentation, in a transaction that encapsulates the essence of public-private partnerships. In this case, the private business initiative opened up the capital of two vertical subsidiaries to a combination of public and private initiatives, thus contributing to business growth, and ensuring sound, firmly rooted projects in the future,” highlighted Cuatrecasas lawyers José Ramón Berecibar and Elvira Azaola, who led this transaction with the support of Ander Portillo.