Bain Capital sells 9.5% stake in ITP Aero to Indra

August 10, 2023
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.

The Cuatrecasas advisory team was led by Javier Villasante and Soraya Sáenz de Santamaría, and was formed by lawyers Miguel Ángel Castaño, Elena García Martín and Javier Rovira, who collaborated with Jaime Sepúlveda, Javier Calvin and Daniel del Pozo.
August 10, 2023