Garrigues on the acquisition of Istobal
Herrecha Inversiones has acquired 22% of the valencian group, Istobal. It specialises in the manufacture of washing equipment for trains, trams, metros, coaches, trucks, tractors and cars.
During 2021, it grew by 13.4% and has recovered pre-pandemic turnover levels. Its EBITDA increased by 61.2% compared to the previous year.
Istobal has valued the entry of Herrecha Inversiones as a partner of the company as it intends to boost the development of new products and services.
More than 75% of Istobal’s equipment production is aimed at export markets, so Herrecha’s entry aims to contribute to the company’s growth in a period in which it is accelerating its international expansion and the digitalisation of its processes.
The team from Garrigues advising Istobal was formed by the partner, Luis Sebastiá and the Senior Associate, Fernando Navarro.