PRINT THIS PAGE CVC sells Spanish vehicle inspection firm Grupo Itevelesa 25/11/2004. Source: AltAssets. 
 CVC has exited its 1999 investment in Spanish vehicle inspection business Grupo Itevelesa with a secondary sale to Apax Partners and Vista Capital. Financial terms were not disclosed but sources described the transaction as marking a 'successful' investment for CVC.
Grupo Itevelesa was established in 1982 and its business is the technical inspection of vehicles and industrial testing and certification.
Nicolás Bonilla, head of Apax Partners Spain, said, 'Itevelesa is our fourth investment in Spain in 2004, and demonstrates our high level of activity in the Spanish private equity market.'
The sale represents CVC's eighth exit of the year. The group is expected to begin raising a new pan-European buy-out fund next year. Recent weeks have seen reports of CVC working on bids for listed Swiss firm Forbo and for Merseyside Docks.
There have also been reports this week that CVC is involved in a €800m bid for the confectionary arm of the Dutch group CSM but no official comment has yet been made by the buy-out firm. CSM put the business up for sale in August.
Apax is in the process of raising an E4bn fund for buy-out and late stage venture investing.
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