Platinum Equity completed the acquisition of a majority stake in Grupo Ibérica de Congelados (Iberconsa), a global provider of frozen seafood products, from Portobello Capital and affiliates of the company’s founding families. Financial terms were not disclosed. The sellers and members of the Iberconsa management team will be minority investors alongside Platinum Equity. "Iberconsa has established itself as a leader in the markets it currently serves. The company has grown substantially in recent years and can benefit from Platinum’s operational expertise to help maximize the benefits of its increased scale. We also intend to further grow the business through new acquisitions by deploying our M&A resources to help the management team expand the company’s product portfolio and geographic reach," Louis Samson, Platinum Equity Partner.