Buy-side advisory

Exclusive advisor to Indra in the acquisition of 26,34% of Tess Defence

AZ Capital has acted as sole financial advisor to Indra in the acquisition of a 26.34% stake in Tess Defence, becoming its majority shareholder with a 51.01% stake. The transaction values 100% of Tess’ equity in up to €405 MM.

Tess is a highly strategic transaction for Indra, positioning Tess as the prime contractor for for the Army’s current and future armoured vehicle programs, and further reinforcing Indra’s presence in the land defence industry. TESS will act as the prime contractor of the programs, taking responsibility for their engineering and manufacturing.

Sector: Industry