Amper has signed a binding agreement with Nazca to acquire 100% of Teltronic, a Spanish company headquartered in Zaragoza and a leader in defense and security communications. The purchase price consists of a fixed amount of \u20ac155 million, implying an enterprise value of under than 9x 2025 EBITDA, which exceeded \u20ac20 million, and a maximum contingent amount of \u20ac45 million (earn-out), subject to the achievement of targets customary in this type of deal.\u00a0 Additionally, the agreement includes Amper\u2019s assumption of \u20ac25 million of Teltronic\u2019s debt. Therefore, the total value of the deal could reach \u20ac225 million.<\/p>\n
The fixed amount would be paid through a cash payment of \u20ac111 million, and the remaining \u20ac44 million would be paid through the issuance of new Amper shares, in line with Amper\u2019s inorganic growth strategy, which provides for this partial payment-in-kind model, which Nazca would subscribe to through a non-cash capital increase, and also the possibility of one or more co-investors joining the investment. These new Amper shares would represent approximately 7.75% of the Company\u2019s share capital following the non-cash capital increase and would be issued at a price of \u20ac0.23 per share. Any additional contingent price, if applicable, would be paid in cash.<\/p>\n
On the one hand, the deal is part of Amper and Nazca\u2019s strategy as key players in the Spanish defense and security industry ecosystem, which must supports to the implementation of Spain\u2019s National Defense and Security Strategy and to its strategic autonomy; and, on the other hand, as part of a long-term strategic partnership between the two companies, as demonstrated by Nazca\u2019s significant stake in Amper.<\/p>\n
Nazca, through its specialized defense fund, acquired Teltronic, a Spanish company with an industrial base in Zaragoza that had previously been owned by a Chinese corporation. One of the goals of this deal is to bring back to Spain technology and industrial capabilities considered strategic.\u00a0 Once this process is completed, and as part of the aforementioned National Strategy, the agreement with Amper enables the integration of Teltronic’s capabilities into to a Spanish company that holds a significant position as a \u201cTier 1\u201d supplier in Defense and National Security with proprietary dual-use technologies. This deal will enable Amper to establish itself as a leader in Spain in Defense and Security Communications and as a major player in Europe.<\/p>\n
The deal represents a transformational and highly complementary acquisition for Amper from a technological, industrial, and geographic perspective. It is expected to generate significant commercial, technological, and operational synergies, as well as consolidate the company\u2019s position in key markets such as Brazil and Mexico and provide access to others, including the United States and Canada.<\/p>\n
Enrique L\u00f3pez P\u00e9rez, CEO of Amper, has commented: \u201cThe acquisition of Teltronic is a transformative move for Amper, positioning us as a Tier 1 supplier in Europe for defense and security communications, and reinforcing our ambition to also become Spain\u2019s leading mid-cap company in dual-use technologies, while strengthening our strategic relationship with Nazca.\u201d<\/p>\n
For his part, Carlos Carb\u00f3,\u00a0 Executive Chairman of Nazca, has added: \u201cThe sale of Teltronic to Amper, which includes the acquisition of a significant stake in Amper, is part of our goal to contribute to the preservation and development of strategic capabilities for national defense and to strengthen the defense and security industry from our position as an investor specializing in that market.\u201d<\/p>\n
The purchase agreement is expected to be signed by June 16, 2026, subject to the fulfilment of certain regulatory conditions precedent in various jurisdictions, as well as approval by Amper\u2019s General Meeting.<\/p>\n
Amper has been advised by Bestinver Securities as financial advisor and Cuatrecasas as legal advisor. Nazca Capital has been advised by Banco Sabadell as financial advisor and Ur\u00eda Men\u00e9ndez as legal advisor.<\/p>\n","protected":false},"excerpt":{"rendered":"
Amper has signed a binding agreement with Nazca to acquire 100% of Teltronic, a Spanish company headquartered in Zaragoza and a leader in defense and security communications. The purchase price consists of a fixed amount of \u20ac155 million, implying an enterprise value of under than 9x 2025 EBITDA, which exceeded \u20ac20 million, and a maximum […]<\/p>\n","protected":false},"author":1,"featured_media":12015,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-12017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nazca-en"],"acf":[],"yoast_head":"\n