Baker Tilly advises Nadal Badal SA, an electrical locks and closures company, on the sale to CDVI Group

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Integral service around a transaction
BY : Paul von KesselJuly Fri, 2022

In June 2022, the acquisition of lock products manufacturer Nadal Badal by security company CDVI Group closed. Baker Tilly Corporate Finance has advised Nadal Badal in this transaction.

Vendor: Nadal Badal SA 

Based in Barcelona (Catalonia), Nadal Badal  has been offering solutions to the locksmith, hardware and access control world for more than 70 years.

"NADAL BADAL was founded in 1950 as a family business, and has remained so until today, growing to more than 50 employees and exporting to more than 40 countries. We are very happy to join the CDVI Group family and are excited to see where this journey together takes us."

Joan Nadal

The JIS lock manufacturer has grown over the years to become a world leader in electric locks and electric strikes.

Investor: CDVI Group

The CDVI Group is one of the world leaders in the access control and electric lock market. It has innovative access control and electronic locking system solutions, with a product portfolio ranging from biometric systems and online access control to keypads, stand-alone systems, door automation and electromagnetic locking devices.

With this acquisition, CDVI Group integrates the experience and know-how of NADAL BADAL and will be able to offer a wider range of products:

"Thanks to the well-deserved recognition of NADAL BADAL in the security industry for the quality and catalog of its electric locks and electric strikes, CDVI Group will be able to offer solutions to a wider variety of customers for very different projects." 

Yoram Benhammou, CEO, CDVI Group


Baker Tilly has advised the owners of Nadal Badal SA de in negotiations with the CDVI Group team. Alex Wendt, a partner specializing in the sector, led the team. Baker Tilly Corporate Finance has a team specialised in Tech M&A and has consistently ranked in the top 10 of the global mid-market for small and medium-sized companies. "This transaction is a great opportunity for Nadal Badal to be part of a group like CDVI and thus further enhance growth in Spain," said Alex Wendt.

Baker Tilly International's corporate finance services include advising on cross-border transactions for clients doing business in multiple locations. Baker Tilly's network spans 145 territories, with 38,000 people working in more than 746 offices.

Baker Tilly International is an international business professional services network specialising in advisory, consulting, auditing, tax and legal, accounting, labour and management services for SMEs and multinational companies. 

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