Industry: Underground Containers for Urban Solid Waste
Investment Date: 2007
Exit Date: 2019
Exit Type: Buy-back
Sotkon resulted from the buyout of 2 companies, one in Portugal and other in Spain, creating the Iberian market leader in the production, assembling and installation of underground containers for solid urban waste. In 2019, Sotkon was present in circa 30 countries through subsidiaries, as for example in Portugal, Spain, France and Turkey, and through a wide network of distributers at a worldwide level, having reached a turnover of Eur 10 Mn in 2018.
Inter-Risco’s strategy resided in the integration of two market-leading companies to create a world leader in a market segment that, despite small, presented a sustainable growth, and support international roll-out of an innovative and proven product.
However, Sotkon was particularly impacted by the financial crisis felt in the Iberian market (2008-2013) after which passed through a restructuring period, with a new management team, which allowed to achieve a performance more aligned with the historical one, notwithstanding still below the initial business plan.
Considering the abovementioned evolution, Fundo Caravela sold its stake in Sotkon to the other shareholder in July 2019.