Livingstone wins Gold with JZI investment
Livingstone has advised Oro Direct in the sale of a majority shareholding in the company to private industrial holding group JZ International.
Created in 2006, Oro Direct is a market leader in Spain in the trading of precious metals, with revenues of nearly €1bn. Oro acquires scrap gold and silver from professional suppliers, including jewellers and pawn-shops, and sells precious metal products which carry the highest recognised global authentication. The Company’s growth has been built on its excellent customer service and compliance with the strictest of regulatory environments.
JZI is a European investment holding group focused on small to mid-size companies in the service sector across Europe. The current portfolio has over 30 investments with in excess of €2bn in revenue and more than 6,000 employees. JZI’s investment philosophy is to acquire a majority shareholding in well-managed, profitable service companies and then seek to accelerate their growth.
The partnership with JZI will provide Oro Direct with financial and corporate support to develop its business strategy both in Spain and across Europe over the next few years.
The Founder and CEO of Oro Direct said: “Neil and his team at Livingstone provided me with excellent service throughout the process. As well as identifying exactly the type of investor I needed, they managed the complex transaction extremely well.”
Neil Collen, Partner of Livingstone Madrid added: “It was a pleasure working with Oro Direct. They knew what they were seeking, and were very open to ideas and recommendations. We managed to identify various investment groups, but always felt that JZI would make an excellent partner.”