Cuatrecasas has advised US fund Bain Capital
on selling Indra
a 9.5% stake in Basque aeronautical and industrial engine manufacturer ITP Aero
, in a transaction worth €175 million. In this way, Bain Capital, owner of ITP Aero, reinforces its commitment to establishing a solid defense and security industrial ecosystem in Spain.
Indra's entry into the Basque company’s shareholding incorporates a technological partnership framework that will enable ITP Aero to continue with its growth and development plans, strengthening its industrial and R+D capacity and creating important synergies in the aerospace defense sector.
The acquisition carried out by Indra gives it the power to appoint a director to the ITP board of directors. For this purpose, Marc Murtra, current chair of Indra Sistemas, has been appointed this role for a five-year statutory period.