Baring supports Andamios In to build a bigger future
December 2007
Baring Private Equity Partners (BPEP) has acquired a stake in Andamios In, S.A. (In Sistemas). In Sistemas is a leading provider of scaffolding systems to the Spanish construction sector. The company offers services such as formwork for walls and slabs, shoring, push-pull props, project completion, sale of material, wood production and construction for curtain walls. In Sistemas achieved €27 million revenues in 2007.BPEP Spain is a leading Spanish private equity house specialising in buy and build strategies within fragmented markets. Baring has invested €8 million to acquire its equity stake and the funds will be dedicated to achieving management strategy for In Sistemas’ objectives.
Livingstone Partners advised In Sistemas in the transaction, introduced the management team to BEPE Spain and assisted in the negotiations.
Project leader Ramiro Marquez commented, “The team at In Sistemas had indentified a clear opportunity to consolidate the fragmented Spanish market for scaffolding and related services. We are delighted to have found a partner that shared that vision in Barings.”
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