Information on the Target

HTBA (HealthTech Bioactives) is a global leader in the production and commercialization of natural ingredients, including citrus flavonoids and active forms of vitamin B12. Established in Barcelona over 40 years ago, HTBA has pioneered innovative processes for creating high-quality, natural ingredients that benefit both human and animal health, maintaining a strong focus on sustainability and environmental protection throughout its supply chain.

The company operates a technologically advanced production facility in Beniel, Murcia, and has an operational subsidiary in Cincinnati, USA. Currently, HTBA serves clients in more than 60 countries, solidifying its position as a trusted provider in the health and nutrition sectors.

Industry Overview in the Target’s Specific Country

The natural ingredients market has experienced significant growth in recent years, driven by rising consumer awareness of health and wellness. In Spain, the emphasis on sustainable and natural products has spurred innovation and investment in companies like HTBA, which specialize in high-quality, bioactive compounds. The pharmaceutical and nutrition sectors, in particular, are increasingly integrating natural ingredients to enhance their product portfolios.

Furthermore, Spain's strategic location and robust industrial capabilities make it a key player in the European natural ingredients market. The influx of modern technologies into production processes has improved efficiency and quality, allowing local companies to compete on a global scale. As sustainability becomes a core component of business strategies, companies focusing on environmentally friendly production methods have a distinct advantage.

With a projected increase in demand for natural and organic products, Spanish companies like HTBA are well-positioned to capitalize on these trends and drive further growth in the health and nutrition sectors. The collaboration between government and industry to promote sustainability is also boosting innovation, resulting in enhanced product offerings and market reach.

The Rationale Behind the Deal

Miura Partners' acquisition of HTBA aligns with its strategic commitment to investing in mid-market companies that exhibit strong growth potential and innovation. The investment targets companies like HTBA that demonstrate leadership in their respective sectors and possess solid business models. With HTBA's established reputation in the natural ingredients space, Miura aims to enhance the company's operations and further solidify its market position.

This acquisition represents Miura's third investment from Miura Fund IV, which closed in 2024 with a final size of €475 million. The firm plans to implement both organic growth strategies and opportunistic acquisitions to establish HTBA as a leading platform in the natural ingredients market.

Information About the Investor

Miura Partners is a purpose-driven private equity firm with offices in Barcelona and Madrid. The firm focuses on investing in small and medium-sized family businesses and startups, providing them with attractive growth plans and a clear emphasis on sustainability and innovation. With €1.5 billion in assets under management, Miura has completed over 80 investments since its inception in 2008, valued at €4 billion.

The firm's strategy is centered on identifying and nurturing enterprises with the potential for significant growth while ensuring that these companies prioritize sustainable practices. Miura's extensive experience and network empower its portfolio companies to achieve their objectives and enhance their market presence.

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The acquisition of HTBA by Miura Partners appears to be a prudent investment, given the company's exceptional market positioning and proven track record in the natural ingredients sector. HTBA's focus on innovation and sustainability resonates well with current industry trends, which favor natural and sustainable products. As consumer demand for health-oriented solutions continues to rise, HTBA is poised for substantial growth, making it an attractive asset in Miura's portfolio.

Furthermore, Miura's approach to fostering organic and inorganic growth suggests a robust strategy aimed at enhancing HTBA's capabilities, market reach, and competitive edge. The combination of Miura's financial expertise and HTBA's established reputation in the industry can lead to substantial synergies, creating value for stakeholders.

Overall, this acquisition not only reflects Miura’s commitment to investing in companies with strong growth potential but also underscores its belief in HTBA's ability to become a leading player in the natural ingredients sector. As the global trend towards health and sustainability continues to evolve, the prospects for HTBA under Miura's stewardship appear promising.

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