Key Takeaways
- • Aurica Search Fund I acquired an 80% majority stake in Hispania Educación y Comunicación S.L. and International Students Accommodation Valencia S.L., a Spanish-language education institution with over 20 years of operating history, through its investment vehicle Relevian.
- • Hispania demonstrates strong unit economics with gross margins exceeding 40% and a compound annual growth rate of 17% between 2018 and 2024, serving over 3,000 foreign students annually through a network of 600+ international recruitment agencies.
- • Marcos Durán led the transaction and assumes the CEO role post-acquisition, while company founders retain a minority stake and remain in management to ensure operational continuity.
- • This represents Aurica Search Fund I's fourth investment overall and first transaction completed in Spain, expanding the fund's geographic footprint and education sector exposure.
- • The deal exemplifies the search fund model in Continental Europe, where entrepreneurs raise capital to identify, acquire, and manage single private companies with institutional backing and co-investment support.
Summary
Aurica Search Fund I has completed the acquisition of an 80% controlling stake in Hispania, a Valencia-based Spanish-language education provider, through its dedicated investment vehicle Relevian. The transaction, led by entrepreneur Marcos Durán, marks the fund's inaugural investment in Spain and fourth portfolio addition overall, signaling Aurica Capital's expanding commitment to the Spanish and broader European search fund ecosystem.
Hispania operates as a prestigious academic institution serving international students seeking Spanish language education. Founded in 2002, the company has cultivated an extensive recruitment infrastructure comprising over 600 international agencies and annually enrolls more than 3,000 foreign students. The company's financial profile demonstrates attractive fundamentals: gross margins exceed 40%, and the business has achieved a 17% compound annual growth rate during the 2018–2024 period, indicating consistent revenue expansion and operational scalability.
The deal structure preserves founder involvement and institutional accountability. Marcos Durán assumes the CEO position following acquisition, while the company's founders retain their minority equity stake and maintain operational roles to ensure business continuity and protect institutional knowledge. This hybrid governance model aligns with institutional best practices in lower middle-market acquisitions and reflects the search fund methodology's emphasis on entrepreneur-led value creation with professional oversight.
Hispania joins Aurica Search Fund I's existing portfolio, which includes CSP (event security services), Alfavet (pet nutraceuticals), and SOS (software distribution). The fund's diversification across sectors—education, security, healthcare, and technology—positions it to capture structural demand across multiple markets while maintaining operational independence within each portfolio company. This transaction underscores Aurica Capital's strategic positioning within Spain's growing alternative investment landscape and its focus on operationally sophisticated, mature businesses with demonstrated growth trajectories.
Hispania operates as a prestigious academic institution serving international students seeking Spanish language education. Founded in 2002, the company has cultivated an extensive recruitment infrastructure comprising over 600 international agencies and annually enrolls more than 3,000 foreign students. The company's financial profile demonstrates attractive fundamentals: gross margins exceed 40%, and the business has achieved a 17% compound annual growth rate during the 2018–2024 period, indicating consistent revenue expansion and operational scalability.
The deal structure preserves founder involvement and institutional accountability. Marcos Durán assumes the CEO position following acquisition, while the company's founders retain their minority equity stake and maintain operational roles to ensure business continuity and protect institutional knowledge. This hybrid governance model aligns with institutional best practices in lower middle-market acquisitions and reflects the search fund methodology's emphasis on entrepreneur-led value creation with professional oversight.
Hispania joins Aurica Search Fund I's existing portfolio, which includes CSP (event security services), Alfavet (pet nutraceuticals), and SOS (software distribution). The fund's diversification across sectors—education, security, healthcare, and technology—positions it to capture structural demand across multiple markets while maintaining operational independence within each portfolio company. This transaction underscores Aurica Capital's strategic positioning within Spain's growing alternative investment landscape and its focus on operationally sophisticated, mature businesses with demonstrated growth trajectories.
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