Aurica backs STI Norland

The GP invested via its Aurica III fund, which held a €160m final close in December 2017. The vehicle is dedicated to growth capital investments in mid-market companies with expansion and consolidation potential, generating at least 70% of their revenues from outside Spain.

It typically acquires significant minority stakes by deploying equity tickets in the €10-30m range and up to €50m when in partnership with its co-investors. Target companies are Spanish businesses with revenues in the €30-200m bracket and EBITDA of at least €5m.

The GP intends to consolidate STI Norland's position in the Spanish market, further boost its international expansion and support its growth both organically and via new acquisitions.

Company
Established in 1996, STI Norland specialises in the design and manufacturing of solar trackers for photovoltaic panels. It also provides installation, assembly and supervision services, and performs geotechnical investigations and on-site tests.

STI Norland is headquartered in Pamplona and has subsidiaries in the US, Israel, India, Brazil, Mexico, Chile and South Africa. It employs 250 staff and generates revenues of around €80m.

People
Aurica Capital – Para Raúl Rodríguez (managing director).
STI Norland – Alberto Pérez (CEO); Xabier Blanco (chair).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• Southern Europe
• Industrials
• Spain