Baring Private Equity Partners backs Grupotec

The GP invested through the vehicle Baring Iberia III Fund, which holds €152m and closed in 2008.

The funding will allow the company to consolidate its plans for international expansion. Latin American and African countries in which the company is not yet present will be the immediate focus. The company will shift its focus to renewable energy and environmental projects.

The company’s existing management team, led by president Olallo Villoldo, will remain majority shareholders.

Company
Founded in 1997 and based in Valencia, Grupotec is an international engineering company. The firm provides engineering and consultancy services and turnkey solutions and has a particular focus on renewable energies and environmental projects. A large proportion of the firm’s activity occurs in the photovoltaic sector, notably in roof-mounted photovoltaic installations for industrial premises. 

In 2012, the company reported a turnover of €63.5m and employed 278 staff.

People
Carlos Fernández de Araoz is a partner at Baring and led the deal. 

Advisers
Equity - Grupo MBD (Corporate finance); Araoz y Rueda (Legal); Deloitte (Financial due diligence).
Company -  Gómez Acebo & Pombo (Legal). 

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• Topics
• Southern Europe
• Support services
• Expansion
• Spain