Artá has bought the 60% of telecommunications engineering company Satlink, after having sold last week the 26% it held in Flex. The rest of the capital will remain in the hands of Faustino Velasco, chairman and founding partner of the company. Faustino will continue to lead the management of Satlink in this new stage, after more than 25 years of "successful trajectory" in the sector.
This purchase, the amount of which has not been disclosed, will help to Satlink to raise liquidity to continue its international growth process. In 2006 it opened its first office in the Seychelles, in 2008 it made the leap to Latin America, starting with Ecuador, and later it entered the Asian market.
Satlink, which dates back to 1992, is a Spanish engineering company specialised in the development of technological solutions for sustainable fisheries and improved fisheries management. It also offers a wide range of satellite products and solutions for the maritime industry. These products include telecommunications for the fleet and personnel on board, location systems, electronic reporting and video-surveillance from land to improve the control and traceability of fishing and the transport of goods by sea.
In the last four years it has doubled its turnover to €50m in 2016, while gross operating profit (ebitda) amounted to €10m.
Much of its growth is due to the opening of international markets, in 2015 Satlink exported 72% of its turnover.
Artá capital is a development capital management company, founded by Corporación Financiera Alba (March Group)Its fund, Artá Capital II, which is already in the closing phase, has closed 3 operations so far this year. The first was the acquisition of the Portuguese gas distributor Gascan. Shortly after, it entered Alvinesa, a company specialising in the treatment of by-products generated by the wine industry (mainly pressed grapes and lees), and recently sold its stake in Flex. With this operation Artá obtained capital gains of €40.7M.
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