N+1 Mercapital secures stake in Salto

The deal saw the Dinamia fund, which is managed by N+1 Mercapital, picking up a 5.5% stake in the company, and investing €8.7m.

Following the transaction, N+1 Mercapital will support Salto's continued international expansion into new geographical markets. 

The deal follows the Spanish buyout house's recent revelation that its CEO Javier Loizaga had resigned. The firm is also currently raising a new fund, which is targeting €1bn.

Company
Established in 1999, Salto manufactures access control products with a particular focus on electronic locks. The company has developed a range of virtual network security systems, enabling users on and offline control. Typical customers include airports, hospitals, banks, universities and hotels.

The company's key markets are Europe and the US, with exports accounting for more than 90% of sales in 2012, and are expected to account for 95% in 2013.

Salto employs 290 people, with more than half of its staff based outside of Spain. It operates from its head office in Oiartzun, which also looks after management, R&D and marketing functions.

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• Topics
• Southern Europe
• Industrials
• Buyouts
• Mercapital
• Spain