Highgrowth Partners has sold the 32.65% stake it held in communications and networking solutions company Dimat SL. The company designs and manufactures communication and networking solutions for the international power utilities market.
Shares have been sold to institutional investors for €15.8 a share
Add-on is the first since LDC and Ares provided financing of £100m to the telecoms company in 2019
Acquisition of the fire safety systems provider is the first from the GP's €1.1bn eighth fund
Fresh capital will go towards increasing delivery speed and geographic footprint