Alantra has acted as Joint Bookrunner for the successful Initial Public Offering (“IPO”) of TSK, a leading engineering and contracting group serving the infrastructure needs of the energy transition, electrification, digitalization, and industrial sectors.
TSK operates across Energy Transition and Digitalization, and Handling & Mining, with a track record of approximately 350 complex engineering projects delivered over the past 15 years. The Offering comprised €150mn, increasing to €172.5mn if the over-allotment option is fully exercised, and attracted strong institutional demand, including from cornerstone investors, reflecting investor confidence in TSK’s business model and exposure to structural growth end-markets such as combined cycle gas turbines, electrical infrastructure, and data centers.
Alantra worked closely with TSK and the other advisors throughout the IPO process, including investor engagement, work with cornerstone investors, and bookbuilding. The transaction also reflected Alantra’s ability to coordinate its ECM, sales, research, and trading capabilities across geographies, with close collaboration from the firm’s Italian team to broaden investor outreach and add depth to the order book.
André Pereira-Ambrosio, Partner and Head of ECM Iberia at Alantra, said: “It has been a pleasure to support TSK on this important milestone. The transaction reflects the quality of TSK’s business, investor demand for companies exposed to infrastructure, energy transition, and digitalization trends, and the continued momentum of ECM activity in Iberia. We are pleased to have supported the Offering through our work with cornerstone investors throughout the process and by working with our Italian team to enhance the order book. We are grateful to TSK and its management team for the trust placed in Alantra.”
This transaction adds to Alantra’s recent ECM track record in Iberia, following mandates as Co-Lead Manager for the IPO of Cirsa on the Madrid Stock Exchange, Co-Lead Manager on Blackstone’s c.3.6% stake sale in Cirsa through an accelerated bookbuild, Co-Lead Manager on Merlin Properties’ €768mn capital increase to support its data center expansion strategy, and Co-Lead Manager for the IPO of HBX Group on the Madrid Stock Exchange.
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