3i, the listed UK buyout group, has made its largest minority investment to date, as it continues to move away from the smaller end of the market where it made its name.

3i's growth capital division, which takes minority stakes in businesses it then helps to build, has invested just over €100m ($127m) to buy a 30% stake in Spanish company Sistemas Tecnicosde Encofrados, which makes an alternative to traditional scaffolding.