An infrastructure fund managed by DIF Capital Partners has acquired a vehicle inspection services firm from funds managed by Hayfin Capital Management.

The DIF Infrastructure VI fund has agreed to buy Spanish technical inspection services company Grupo Itevelesa for an undisclosed sum.

Founded in 1982 and headquartered in Madrid, Itevelesa operates 72 fixed locations and 20 mobile units across 11 autonomous communities. Hayfin has been the company’s majority shareholder since 2015.

Jesús García Gil, CEO of Grupo Itevelesa, said: “DIF is the ideal partner to support the company’s growth and diversification business strategy; this transaction ensures that we can continue delivering the highest possible safety and quality service to our customers under the highest ESG standards.

“Hayfin has been a highly supportive shareholder to us over the past six years and we’d like to thank them for their confidence and contribution to the business’ growth.”

Gijs Voskuyl, partner and head of Investments for DIF Infrastructure VI at DIF Capital Partners, said: “Itevelesa is largely long-term concession based and provides an essential service across Spain through its extensive network of vehicle inspection service stations and industrial inspection offices.

“It therefore aligns closely with our core strategy of making stable and long-term equity investments in best-in-class operational infrastructure assets with a strong market position and predictable cash flows. We are looking forward to working closely with the Itevelesa team to continue to deliver a high-quality service to its customers.”

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