Alicante-based company Embention Sistemas Inteligentes, a firm in the development industry of critical components and systems for drones, was founded in 2007 and, since then, has been a benchmark for its technology applied to the development of equipment for unmanned aircraft. The company closed the last fiscal year with a turnover of €3.3 million, distributed among more than 500 international clients such as Toyota and Airbus.
The company was listed on the Euronext Access Paris market. Finally, after months of negotiations, the Axon Innovation Growth IV Investment Fund, through its Spanish fund manager Axon Partners Group (Axon), has acquired a minority stake in Embention’s share capital, paying and investing in return a total of €7.5 million. In this way, Embention and Axon join forces to continue and enhance together the growth of the technology company.
The law firm Devesa & Calvo has been involved in the process of the Fund’s entry, advising Embention itself, as well as Axon’s advisors for its entry into the capital of the Alicante-based company. In addition to this intervention, the involvement of the M&A boutique Infinitto Capital, led by Pedro Pérez Navarro (CEO), was key to the transaction’s success.
The company once again entrusted the legal advice on the transaction to Devesa & Calvo’s Commercial Law and M&A department, led by partner Juan Antonio Botella Curvertoret and assisted by lawyers María Roldán Llamas and Ana Karin Mengotti Moliner, who had previously participated as legal advisors for the company to leap Euronext Access, with the professional collaboration of Fellow Funders as the company’s listing sponsor. David Benavente, founder and CEO of the Alicante-based company, expressed his gratitude to both companies for the effort and result achieved in this complex transaction: “After these 15 years in this incipient sector, we face a new exciting stage with Axon to ensure that drones populate our skies in the coming years and continue to be technological leaders in this industry with our autopilots and critical systems.”
Devesa & Calvo Abogados’ team was led by partner Juan Antonio Botella Cuvertoret, along with lawyers María Roldán Llamas and Ana Karín Mengotti Moliner.
