Kimitec, a company specialising in biotechnology applied to agriculture, is reshaping its executive leadership following the entry of DVC Partners, a pan-European investment firm that has recently renewed its focus on Spain in search of new opportunities. The Andalusian company, once considered a benchmark in the sector and even tipped as a potential Spanish “unicorn”, has announced the appointment of Pablo Montañés Abad as its new Chief Executive Officer.
The arrival of the new executive comes after judicial authorisation granted to the fund led by Ignacio Casanova to take control of the company as part of the pre-insolvency proceedings initiated due to liquidity pressures. DVC Partners had shown interest in the company months earlier, taking positions by assuming bank debt—including that of Santander—before ultimately acquiring ownership.
Following the entry of the new shareholder and the restructuring of its capital, Kimitec has begun a process of “active listening” to the market, according to the company. Montañés’ mandate “focuses on transforming the organisation towards a model where service excellence, on-time delivery and proximity to distributors are as important as product formulation itself.”
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In addition to Montañés—who joins from Defeder, a company backed by Henko Partners—Kimitec has also strengthened its management team with the appointment of Rafael Sáenz de Santa María as Chief Financial Officer (CFO). The company stated that he will “bring a strategic vision focused on efficiency, financial discipline and sustainable growth, in line with this new phase of consolidation and profitability.”
Meanwhile, Félix García, co-founder of the project and Kimitec’s largest individual shareholder prior to DVC Partners’ entry, will take on the role of Chief Innovation Officer (CIO). García retains a minority stake in the company and a seat on the board of directors.
Second acquisition
Kimitec represents DVC Partners’ second acquisition in Spain following its rebranding. The firm’s debut in the Spanish market came with the acquisition of solar tracker company Soltec, which narrowly avoided insolvency after securing new financing and a capital increase that resulted in DVC Partners acquiring an 80% stake. DVC Partners also owns the Spanish companies Travel Live (formerly Nautalia) and Nuba.
