Artá Capital buys 60% stake in Satlink

The deal saw the company’s founder Faustino Velasco retain the remaining 40% stake.

The company will use the capital injection to expand its business internationally. The firm opened an office in the Seychelles in 2006 and subsequently in Ecuador, with the aim of boosting its presence in Latin America.

The deal is the third acquisition for the GP’s second vehicle, following the purchase of Portuguese gas provider Gascan for €70m from Explorer Investment and wine derivative products manufacturer Alvinesa. The fund has a €350-400m target.

Company
Established in 1992 and headquartered in Madrid, Satlink develops software and hardware for maritime communications.

The company generates a turnover of €50m and €10m of EBITDA, according to press reports.

People
Satlink – Faustino Velasco (founder).

Advisers
Equity –Dentons (legal).
Vendor – Gomez Acebo y Pombo (legal).

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