Cross-border industrial coatings · ES → US strategic

Ibérica Partners ran the sell-side on a Spain-based specialty coatings carve-out with three plants in Bilbao, Mexico and Brazil. The owners wanted a strategic acquirer with the global distribution to absorb the IP-defensible technology stack.

The Dealflou workflow handled the targeted auction end-to-end · 14 vetted strategics were invited; 12 signed NDAs in the platform; the data room served 147 documents under per-viewer watermark across the 16-week window.

The AI diligence pass flagged a customer-concentration risk (top-3 at 68% of revenue) and an un-provisioned MXN 48-82M Mexican tax dispute that the buyers raised in Round 2. Both were addressed in CIM v4; the eventual buyer underwrote with comfort.

The cross-check finding against the Intelligence comparables dataset showed the asking 11.0× sat at the 91st percentile. The advisor team used the band visualisation to defend the premium on EBITDA-margin + IP differentiation; the buyer agreed at the ask.