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Voltan, an international services group focused on energy transition and renewable energies, accelerates its growth after the incorporation of Garoc, one of the Spanish leaders in the assembly, commissioning and maintenance of very high, high and medium voltage networks in Spain and Latin America.
Madrid, 1 June, 2023.
Voltan, the Spanish technical services group specialising in the energy sector, has incorporated the company 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 the fourth integration of Voltan 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 specialised 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 allow the resulting group to have a stronger presence in the energy value chain.
In parallel to the integration of Garoc, Henko Partners has incorporated Javier Gómez 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 that will help to crystallise the numerous commercial synergies between the different companies and the international expansion of the group.
To Baldomero Ruiz "We are very excited to be part of a sector consolidation project like Voltan and, at the same time, it helps us to face this new growth cycle accompanied by a very professional team and with the support of a strategic partner like 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 market position by covering the entire value chain and to increase our presence in renewable energies by benefiting from the strong expansionary cycle in which they are currently operating.
Bird & Bird and Deloitte advised Henko Partners on this transaction, while A&G and Cuatrecasas 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 electricity market and has a strong presence in Spain, Peru, Uruguay and the Dominican Republic.
About Voltan:
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 Capital Partners:
Henko Capital Partners is an independent private equity firm focused on supporting Spanish and Portuguese SMEs in markets with long-term growth trends. The strategy is to work with entrepreneurs and management teams to develop high potential businesses. In partnership with companies, the firm drives strategic initiatives and practical operational improvements. As entrepreneurs for entrepreneurs, the firm supports companies to accelerate their growth and transform themselves into more resilient and sustainable businesses. Our team has extensive investment experience and a strong track record of execution with over 30 closed transactions in business services, manufacturing, technology, telecommunications and healthcare. Henko Partners is a responsible investor committed to strict environmental, social and governance principles.
