Técnicas Reunidas has sold 100% of Ibérica del Espacio, S.A. (IberEspacio), a company specialised in thermal control products and engineering solutions for space, to Arquimea for €19 million, a figure that includes the assumption of debt by the buyer. IberEspacio is a company that specialises in the development of products dedicated to thermal control, as well as the manufacture of engineering solutions for space.
In the words of Miguel Paradinas, CEO of Técnicas Reunidas and Chairman of IberEspacio, “We believe that Técnicas Reunidas has completed its stage in IberEspacio by taking it to its current size and we are sure that, with the entry of Arquimea, IberEspacio will have new opportunities for growth. On the other hand, at Técnicas Reunidas we are focusing on our main activities to continue to consolidate our position as leaders in engineering and construction in the energy sector and to respond to the current challenge of contributing to the energy transition and decarbonisation at a global level.”
Diego Fernández Infante, Chairman of Arquimea, stated that “The acquisition of IberEspacio allows Arquimea to complete our capabilities and product range and positions us among the leading companies in the space sector globally, capable of serving the growing market demand driven by New Space, new international agencies and the increase in the number of scientific and commercial space missions.”
Técnicas Reunidas remained the sole shareholder of IberEspacio during the divestment process of Empresarios Agrupados by Técnicas Reunidas and its partners Naturgy and Iberdrola in 2019.
Over the past three years, Técnicas Reunidas has led IberEspacio to profit generation.
The sale of this company culminates the divestment plan of assets not related to the main activity of the Técnicas Reunidas group and the capital gains obtained and the funds generated from this operation will contribute to the development of the energy transition and decarbonisation strategy.
Bird & Bird advised Técnicas Reunidas with a team formed by partner Hermenegildo Altozano, counsel Juan de Navasqüés and associate Carlos Angulo.