SEIDOR incorporates Carlyle into its capital to become a global Top Player

Barcelona, August 20, 2024 – SEIDOR, a technology services and solutions consultancy, has brought Carlyle, one of the largest global investment firms, into its shareholder base with the aim of positioning the company as a leading global technology consultancy.

With this transaction, SEIDOR strengthens its capital structure, with Carlyle Europe Technology Partners ("CETP") becoming the majority shareholder at 60%, while the current partners retain 40%. Advising on this transaction were firms including BCG (Boston Consulting Group), Busquet Economistas-Auditores, Cuatrecasas, JP Morgan, KPMG, Linklaters, and Renta4Sigrun.

As is customary in these types of transactions, the agreement is subject to ratification pending the necessary approvals and authorizations, including from the Spanish National Commission on Markets and Competition (CNMC, by its Spanish acronym), which is expected to occur by the end of the current fiscal year.

Josep Benito, formerly CEO of SEIDOR, assumes the role of Executive Chairman to continue leading the company's growth alongside the current management team. Additionally, the technology consultancy will maintain its headquarters in Vic (Barcelona).

Founded in 1982 by brothers Santiago and Andreu Benito, SEIDOR has sustained double-digit growth over the past fifteen years. Specifically, in 2023, SEIDOR achieved revenues of 894 million euros, a 19% increase from the previous year. Furthermore, it anticipates surpassing 1,000 million euros in 2024.

With this transaction, SEIDOR gains additional capabilities to execute its growth and consolidation plan in international markets, and potentially pursue an Initial Public Offering (IPO) in the medium term.

Market consolidation and diversified portfolio

This is a strategic move to accelerate SEIDOR's growth plan, focusing on Spain, its current main operational hub, as well as the USA and Western European countries such as Italy, France, Germany, the United Kingdom, and Ireland, as well as the Nordic countries. On the other hand, the company will continue to consolidate its position in the remaining 45 countries where it currently operates, including LATAM, the Middle East, and Africa.

Additionally, the technology consultancy will continue with its diversification and reinforcement of key solutions such as Artificial Intelligence (AI), Customer Experience, Cloud, Cybersecurity, and ERP, aiming to offer a comprehensive portfolio based on strategic partnerships with global industry giants like SAP, Salesforce, Microsoft, IBM, Google, and AWS, as well as developing proprietary products.

With the momentum in these markets and products, SEIDOR solidifies its position as a leading technology consultancy for the corporate, private, and public sectors.

Talent and sustainability as strategic pillars

Another strategic priority for SEIDOR is to continue investing in its more than 9,000 professionals, reinforcing its commitment to internal talent development and attracting new skilled professionals.

Talent development, along with initiatives aimed at bridging the digital divide among disadvantaged groups, promoting diversity, developing solutions with positive human impact, and environmental conservation, form the basis of the company's commitment to sustainability, embedded in its purpose of 'humanizing the world through technology.'

Global benchmark in innovation and IT

According to Josep Benito, SEIDOR's new Executive Chairman, "Carlyle's investment in SEIDOR underscores market confidence in our strategy. Carlyle brings not only financial capacity to accelerate our growth but also the experience and best practices in business management that have led other major companies to success in various markets where SEIDOR aims to be a significant player in the medium term."

Benito emphasizes, "This transaction represents a tremendous opportunity for the entire company, our clients, suppliers, and collaborators, as well as for the professional development of our teams." He further states, "This move is a major step towards establishing ourselves as a global technology company of reference and a key player in positioning Spain as a global driver of innovation through information technologies."

Fernando Chueca, Partner at CETP's advisory team, noted, "This transaction presents a significant opportunity to support a Spanish leader in digital transformation and be part of a financially robust and profitable company that is highly competitive and well-positioned in markets like Spain, with strong growth prospects in North America and major European economies."

In addition, Fernando Chueca added, "we view this business venture as a major stride towards developing a global technology champion, competing in the world's highest-value markets, and offering current and potential shareholders an attractive and reliable investment focus."

Recent corporate operations

In recent years, SEIDOR has pursued a series of corporate operations to enhance its international presence and complement its portfolio. In Spain, notable acquisitions include Gesein, a Madrid-based technology firm with a strong footprint in national public sector digitalization, and Opentrends, specializing in cloud application development for large enterprises.

Furthermore, in Italy, SEIDOR acquired companies like HT High Technology, focused on SAP solutions, GunPowder in Salesforce, and ECA Consult, among others. In France, it acquired WorkWell, and in Ireland and the UK, Teamsoft.

Moreover, in the USA, the company has strengthened its strategy by bolstering its executive team and forming alliances with key players in the North American market.