COFIDES and the Basque Finance Institute (IVF) are supporting the international growth of NBI Bearings Europe through a joint financing transaction under which each institution will provide €1 million. In the case of COFIDES, the financing is structured through the FIEX fund and its own resources, further strengthening the company’s industrial footprint in India.
This transaction is part of the collaboration agreement between COFIDES, the Basque Finance Institute (IVF), Elkargi, and Basque Trade & Investment of the Basque Government, aimed at supporting the internationalisation of Basque companies through the promotion and coordination of financial instruments and support services to facilitate their expansion abroad.
Through this transaction, NBI Bearings, the Basque company specialised in the manufacture of precision bearings and metal components, will complete its new production plant equipped with state-of-the-art industrial technology after acquiring the remaining 35% stake from its former Indian partner, thereby reaching 100% ownership of the company’s capital and completing the investment project in full as sole shareholder.
The project will consolidate NBI Bearings’ industrial presence in one of the world’s highest-growth markets, a strategic step in its global expansion and production diversification strategy. It is also expected to have a positive impact on the creation of skilled jobs in both countries and on increasing Spanish exports to its Indian subsidiary.
NBI Bearings currently employs nearly 350 people and operates in Spain, India, and Romania, with a commercial presence across Europe, Asia, and the Americas. COFIDES has supported NBI Bearings’ international expansion in India and Romania since 2019.
Miguel Ángel Ladero, Corporate Director of COFIDES’ Investment Department, highlighted the institution’s long-standing relationship with NBI Bearings, noting that COFIDES has supported the company in several strategic projects over the years and remains committed to contributing to its growth and consolidation in international markets. He also underlined the collaboration between COFIDES and IVF in supporting Spanish industrial companies with a strong international vocation.
Javier Raya, Chief Financial Officer of NBI Bearings, stated that the transaction represents a decisive step in the company’s international growth strategy by strengthening its industrial capabilities in a key market such as India and advancing towards a model of greater autonomy and operational control. He also emphasized the importance of the support provided over the years by institutions such as COFIDES and the Basque Finance Institute through financial solutions tailored to the company’s expansion needs, highlighting the value of public-private collaboration in fostering industrial development and internationalisation.
For his part, Aritz Beistegui, Head of Investments at the Basque Finance Institute, stressed that the transaction reflects the institution’s commitment to supporting industrial companies in their international growth processes by facilitating access to financing and promoting collaboration between public and private stakeholders. He reaffirmed IVF’s commitment to supporting the internationalisation of the Basque business ecosystem through tailored financial instruments.
About COFIDES
COFIDES is a state-owned company that manages public financial funds, as well as its own resources and those of third-party institutions, with various objectives: promoting the internationalisation of the Spanish economy, attracting foreign investment into strategic sectors in Spain, fostering impact economy initiatives, and contributing to the development of the countries in which it invests. Its shareholders include the Spanish State as majority shareholder, alongside Banco Santander, BBVA, Banco Sabadell, and CAF – Development Bank of Latin America.
About NBI Bearings
NBI Bearings Europe is a Spanish industrial company of Basque origin, founded in 2002 and specialised in the design, manufacture, and commercialisation of precision bearings and high-value-added metal components. The company provides solutions for demanding sectors such as industrial machinery, energy, lifting systems, electrical equipment, automotive, aerospace, and others. NBI combines in-house engineering, manufacturing capabilities, and an international commercial network, allowing it to adapt to the specific technical needs of each client. In recent years, the company has pursued a clear strategy of internationalisation and industrial integration, expanding its production capacity and strengthening its presence in strategic markets such as India.
About the Basque Finance Institute
The Basque Finance Institute (IVF), attached to the Department of Finance and Treasury of the Basque Government, acts as an instrument of the Basque Autonomous Community’s financial and public credit policy. Established in 2008, IVF aims to serve as a public financing entity supporting economic and social development policies, business participation, and the dynamisation of the Basque financial and investment ecosystem.
About Basque Trade & Investment
Basque Trade & Investment is the internationalisation agency of the Basque Government, integrated within the SPRI Group, with the mission of boosting the global presence of Basque companies. It provides support services to facilitate access to international markets, including strategic advisory, international expansion support, and business opportunity connections through its network of overseas offices. It also contributes to attracting foreign investment into the Basque Country and works alongside other stakeholders to strengthen the competitiveness and international positioning of Basque businesses
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