Springwater acquires Indra’s Spanish digital document business

Indra and Springwater Capital, the Swiss risk capital firm specialised in acquiring small and medium-sized businesses, said they have reached an agreement through which the Swiss firm acquires Indra’s advanced digital document management business in Spain. The transaction has been closed for the amount of €17 million.

Indra sells to Springwater the four advanced digital printing centres it owned. The new company, which has been named Delion Communications following its split from the technological multinational, employs the more than 300 professionals who work at these four centres, and it expects to boost the creation of employment in Spain with the aim of consolidating itself as the undisputed leader of its sector.

“The transaction falls within the strategy Indra announced this past February, when it presented its objectives, of carrying out certain divestitures that do not affect the strategic lines of its operations, enabling a more efficient use of its balance sheet,” the Spanish corporation explained.

Springwater Capital enters Spain with this first acquisition, and unlike other foreign investors that only acquire Spanish companies with a certain international nature, it has focused on a company that centres its operations in Spain. The risk capital firm, a strong supporter of the business potential in Spain, will boost the growth of Delion with the aim of consolidating the company’s industry leadership. It will promote organic growth as well as acquisitions, and it has the necessary resources to do both.

“International investors specialised in large corporations have understood Spain’s appeal these last 12 months and they have destined a significant amount of funds towards investing primarily in listed companies. However, the sector of small and medium-sized companies, the true driver of Spain’s economy, has been forgotten. This segment is suffering from a lack of credit, but it provides tremendous opportunities,” said Martin Gruschka, a founding partner of Springwater Capital.