Verescence explores sale of Spanish glass insulator unit

Verescence, a French leader in luxury perfume and cosmetic glass packaging, is exploring the sale of its glass insulator division for high-voltage power lines. The division operates through the Spanish company La Granja Insulators, based in Real Sitio de San Ildefonso.

Verescence has appointed investment bank Lincoln International as financial advisor for the sale. Although the process is in its early stages, the move has reportedly attracted interest from private equity funds in Spain. Investors are drawn to the sector due to the increasing demand for electrical grid investments driven by electric vehicles, heat pumps, and data centers.

La Granja Insulators is the second-largest company in its field in Europe, reporting annual turnover exceeding €50 million and an EBITDA of approximately €20 million. The company is currently finalizing an expansion plan that may include constructing a new plant to double production capacity, a project that would likely require significant capital from a new owner.