Waterland Private Equity (“Waterland”) has reached an agreement with Indra Group for the acquisition of 100% of the business consulting division of Minsait, comprising MBC, ALG and Nae (the “Group”). The transaction marks the beginning of a new stage for the Group as an independent platform, with the ambition to accelerate its growth, further strengthen its value proposition and consolidate its position as a leading professional services firm in its key markets.
Minsait’s business consulting division brings together a global team of nearly 1,700 professionals and provides high-value-added professional services, with a particularly strong presence in Spain and Mexico. Building on its recognised market position, the company combines deep sector knowledge with strategic and operational consulting capabilities, as well as specialised expertise across areas such as business transformation, transport and infrastructure, and telecommunications. The Group is supported by a highly entrepreneurial and specialised team, with a strong culture of client proximity, technical excellence and sector expertise.
As part of the agreement, Indra Group will continue to collaborate with the Group through a preferred strategic partnership. This framework will allow both companies to continue developing joint opportunities, deliver projects for shared clients with enhanced capabilities and a strengthened service offering, while preserving the value ecosystem built between the business consulting division and Indra Group over recent years.
The partnership with Waterland will support the business consulting division in its next phase of development. Waterland will work closely with the Group’s management team to accelerate organic growth, expand the platform internationally, strengthen its capabilities in high-value business consulting services and pursue selective acquisitions to complement its existing areas of expertise and geographic presence. Future growth will be underpinned by the expertise, commitment and entrepreneurial mindset of its nearly 1,700 professionals, who will remain at the centre of the Group’s development strategy.
Following the closing of the transaction, the Group will continue to operate with full continuity across its management team, client relationships and professional teams. The parties have agreed not to disclose financial details of the transaction. The closing of the transaction is subject to customary approvals and closing conditions.
About Indra Group
Indra Group is the leading Spanish multinational and one of Europe’s leading companies in defence and advanced digitalisation. It holds leading positions in the businesses of defence, space, air traffic management, mobility and transformative technologies, through Minsait, and integrates its sovereign AI, cybersecurity and cyberdefence capabilities in IndraMind. Indra Group drives a safer and more connected future through innovative solutions, trusted relationships and the best talent. Sustainability forms part of its strategy and its culture, in order to respond to present and future social and environmental challenges. At the end of the 2025 financial year, Indra Group had revenues of EUR 5,457 million, local presence in 46 countries and commercial operations in more than 140 countries.
www.indracompany.com
cloud technology axon
JG Ingenieros and Incosa, whose majority shareholder is Waterland Priv...
