Wednesday, May 31, 2023

Multi-law firm advice on Sener’s acquisition of Quark

Quark has been advised by Arcano, KPMG and Uría y Menéndez, and Sener by Rothschild, Pérez-Llorca, PwC and FIDE Partners


The Sener Engineering and Technology group and the data centre engineering company Quark have signed a purchase agreement that will make Sener the majority shareholder of Quark. The current CEOs of Quark, Ricardo Abad and Miguel Gallego, round out the shareholder structure and will continue to lead the company.

After the acquisition, the company will continue to operate under the Quark brand, leveraging synergies with Sener in technology, operations, and innovation (in areas like mobility, energy and digital). They will also benefit from geographical synergies, thanks to the group’s global presence: Sener has offices in nearly 20 countries, which will help with the internationalization of Quark.

Quark is an engineering and architecture company specializing in data centre design, an industry with growing demand. Founded by Ricardo Abad and Miguel Gallego, the company’s current CEO, Quark, has a 14-year history and has grown exponentially in recent years. Today, it is a leader in the data centre engineering sector in southern Europe and one of the top 20 worldwide. It has built this kind of facilities for companies such as Equinix, Digital Realty, Nabiax, Cyrus One, Iron Mountain and Prime Data Centers, and for some corporate clients like Inditex and BBVA.

As for Sener, it is a private engineering and technology group founded in 1956 that is present in the aerospace, energy, mobility, marine and digital sectors. It has nearly 3,000 professionals in offices on five continents, and it provides clients with its own high-tech solutions.

With this acquisition, Sener continues to diversify further its products and services, which are client-focused and rely on its own technology. In the data centre sector, it can provide its extensive know-how to integrate complex technological systems and help channel the enormous energy needs of data processing centres.

Likewise, Sener’s global presence and its experience in project development in a large number of countries will also allow Quark to guide its clients in their global growth strategies, thus addressing its international expansion needs.

In the words of Sener CEO Jorge Sendagorta Cudós: “We are delighted with this acquisition, which gives us access to a new market. The synergies we have seen both in our corporate values and culture and in our capacities to propose effective solutions to complex challenges were crucial to the success of this operation. The boom in the data centre sector means there is a growing demand for more sophisticated engineering solutions that guarantee the reliability of these infrastructures, as well as their energy demands, in a way that is efficient and sustainable. At Sener, we have a well-established network of international offices, which, together with Quark’s know-how in the sector, will make us a very competitive player in this type of facilities worldwide.”

For Ricardo Abad and Miguel Gallego, CEOs of Quark, the integration with Sener will allow them to grow Quark’s business internationally. “Through Sener’s offices, we will be able to provide local service in key European countries such as Germany, France, Belgium, Poland and the United Kingdom, and in markets such as Canada, the USA, Australia and Mexico,” said Abad. With Gallego added: “We expect to build facilities for large companies with quality, innovative projects that improve energy efficiency. This will help us achieve our corporate goal of being carbon neutral by 2030.”

Quark has been advised by Arcano, KPMG and Uría Menéndez, and Sener by Rothschild, Pérez-Llorca, PwC and FIDE Partners. The purchase agreement is subject to a series of closing conditions, common for this type of transaction.

Uría Menéndez has advised Quark, and the team has been formed by partner Javier Ruiz-Cámara and associates Yulia Kalyuzhyna and Gabriel Rodríguez Leva.

Pérez-Llorca has advised Sener and the team was formed by partner Javier Bau and associates Tobías Kálnay and Carlos Gabaldón.

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