Voltan, the Spanish technical services group specializing in the energy sector, has incorporated Garoc, which will continue to be led by its management team (Baldomero Ruiz, José Antonio Caravantes and José Pablo Ruiz), thus entering the energy transmission and distribution market.
This is Voltan’s fourth integration since its creation at the end of 2021. With this latest move, Voltan, with a turnover of approximately €100 million, reaffirms its commitment to become a European benchmark specializing in technical services with a focus on energy transition and renewable energies. The services provided by Garoc strongly complement Voltan’s existing capabilities and will enable the resulting group to have a stronger presence in the energy value chain.
In parallel to the integration of Garoc, Henko Partners has brought Javier Gomez on board as CEO of the Voltan group. Javier Gómez, former CEO of Imasa Energía, has more than 30 years of experience in the energy sector and has held senior management positions in renowned companies in the sector such as TSK, Cobra, Initec Energía and Duro Felguera. His incorporation allows Voltan to have a top-level management team to help crystallize the numerous commercial synergies between the different companies and the international expansion of the group.
For Baldomero Ruiz “Becoming part of a project of sector consolidation as Voltan makes us very excited and, at the same time, helps us to face this new cycle of growth accompanied by a very professional team and with the support of a strategic partner as Henko”.
According to Javier Gómez “The acquisition of Garoc is a very important step for the Voltan group, as it allows us to strengthen our position in the market covering the entire value chain and increase our presence in renewable energies benefiting from the strong expansionary cycle in which they are in.”
Bird & Bird and Deloitte have advised Henko Partners on this transaction, while A&G and Cuatrecasas have advised the sellers of Garoc.
About Garoc:
Garoc, based in Ciudad Real, Spain, offers comprehensive solutions in engineering, civil works, assembly and maintenance of very high and high voltage lines, medium voltage and electrical substations. The company is one of the leading independent suppliers in the electrical market and has a strong presence in Spain, Peru, Uruguay and the Dominican Republic.
About Voltan Group:
Voltan, was founded in 2021 through the integration of MMYPEM and Teiga TMI, complemented in 2022 with the acquisition of Aplipem. The group offers a broad spectrum of technical services focused on the energy industry, covering all stages of the value chain and the main technical specialties. In addition to its activity in Spain, the group has subsidiaries in the UK, Germany, Israel, South Africa, Peru, Chile and Panama and is executing projects worldwide.
About Henko Partners:
Henko Partners is an independent private equity fund focused on supporting Spanish and Portuguese companies in markets with long-term growth trends. Henko Partners partners with top entrepreneurs and management teams to develop successful businesses and actively engages with portfolio companies to execute long-term growth plans. As entrepreneurs for entrepreneurs, Henko Partners aims to support companies to accelerate their growth and transform into more resilient and sustainable businesses. Our team has over 25 years of investment experience and a strong execution track record with over 30 closed transactions. Henko Partners is a responsible investor committed to strict environmental, social and governance principles. Our goal is to contribute to the long-term success of our investors and to a sustainable society.
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