Wednesday, September 28, 2022

Carles | Cuesta helps Urbas with its acquisition of Ingeser Group´s PUs

Carles | Cuesta Abogados has advised Urbas on its acquisition of four production units of Ingeser as part of the company´s Insolvency procedure


Urbas has informed the market that it has acquired the production unit of the Ingeser Group, a leading national and international group in engineering services.

Ingeser, a national and international reference group in engineering services,
architecture, consultancy, renewable energies and digitalisation; formed by the following companies: Servicios de Ingeniería y Gestión, S.A., Ingeser Ingeniería y Arquitectura,
S.A., Ingeser Sur Ingeniería, S.A., and Ingeser Corporación Catalunya, S.A.

The Ingeser Group, which has more than 45 years of experience, has worked on more than
3.500 projects, which have been carried out for more than 1.200 clients of world-wide reference, such as Laboratorios Abbot, Repsol, Ence, Aldeasa, Coca-Cola, Campofrío, Mercadona, L’Oreal, El Corte Inglés and Mapfre, among others.

Urbas acquires all the assets, goods, rights and elements linked to the business of the
Ingeser Group, including the more than 120 projects currently under execution -whose
€250 million, as well as the contracts signed with some of the largest companies in the agri-food, logistics, pharmaceutical, chemical, both residential and industrial.

The operation entails the continuity of the activity of the Ingeser Group, which currently
currently has four offices in Spain, located in Madrid, Barcelona, Valencia and Seville, the revitalisation of its goodwill and the maintenance of most of the jobs of the
Ingeser Group’s workforce. Precisely, the 70 professionals who make up its current multidisciplinary team, highly qualified and specialised, have represented an important value in the operation due to their great track record and experience.

Urbas will provide the Ingeser Group with a new corporate framework and the technical and financial capabilities that will be decisive for the execution of the projects currently underway and for the winning of new contracts. With this, the Ingeser Group will increase the scope in all its projects, gain exposure in Urbas’ core markets internationally and domestically, and will obtain an important growth in other target countries such as the United States Bolivia, Thailand and Kazakhstan.

Joint insolvency proceedings were filed for the four group companies on 1 July, together with 4 binding offers, one for each production unit. The court declared the Insolvency proceedings as soon as the insolvency application was submitted to it (8 July). After complying with the appropriate legal deadlines and with faithful adherence to the commitments/terms of the Guide to Good Practices by the Court and the Insolvency administration, the Court issued an Order approving the sale of the four production units only 3 weeks later (29 July). In other words, in only 21 days.

Urbas has been advised by the consulting firm McKinsey and represented in the transaction by Carles Cuesta Abogados, with a team formed by partners José Carles and Carlos Cuesta, along with associate Montse Mas. Wesolowski advised the Ingeser Group on the transaction. The Insolvency Administrator was José Maria Dutilh, managing partner of LeQuid. The procedure was managed by Magistrate Carlos Nieto Delgado, from the Barcelona Commercial Court number 16.


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