Livingstone’s Industrial team has advised Andamios In, S.A. (”In Sistemas”) in the capital increase of the business that was backed by Baring Private Equity Partners in Spain (”Baring”).
In Sistemas is a Spanish distributor of scaffolding systems. Among its services, the company offers scaffolding rental and erection, as well as formwork services for walls and slabs, falsework, stabilizers, building shoring, site execution, etc. In Sistemas’ sales reached 27 million euros in 2007.
Baring provides permanent resources to non-listed Spanish companies in order to finance and contribute to their expansion, shareholder restructuring or management buy-out processes.
In Sistemas’ strategy is to double its sales within 3 years by subcontracting services in China and buying 3 or 4 Spanish scaffolding companies. Baring entered In Sistemas’ capital, adding 8 million euros to help it achieve its objectives.
