Basque family offices and UK's Inflexion take 33% of Salto Systems
What's the deal? Salto SystemsDealroom has a profile for this one. Try Dealroom →, an Oiartzun-based maker of access-control and smart identity systems, has reshuffled its shareholder base, with a group of Basque investors and London private equity firm Inflexion Private Equity PartnersDealroom has a profile for this one. Try Dealroom → acquiring 33% of the company. The deal was signed before a notary and does not involve new shares or a capital increase.
Who's buying? The new backers include Basque family offices: Key Wolf, owned by San Sebastián businessman José Poza; Asúa Inversiones, of the Álava-based Urrutia family; and Beraunberri, owned by the Getxo-based Galíndez Zubiría family. Inflexion, one of the world's larger mid-market investors, manages €20 billion in assets.
Who's out? Luxembourg's Peninsula Capital Partners and Belgium's Sofina, both investors since 2020, exited with a notable gain. Two earlier backers reinvested: AlantraDealroom has a profile for this one. Try Dealroom →, a shareholder since 2013, and French family office FloracDealroom has a profile for this one. Try Dealroom →.
What stays the same? The founding team and some historical investors retain the remaining 67%. Salto said the operation will have no impact on its operations, governance, management team, or strategic direction.
Why now? The move completes a planned handover of investors who entered in 2020 and funded the company's growth. Unusually, Salto led the search for new partners itself rather than hiring an investment bank.
Who ran it? The process was led by board member and former chief executive officer Javier Roquero — Salto's alma mater until 2024 — and president José Antonio Itarte, alongside other executives.
The signal: Salto framed the transition as one designed to preserve its "independence, stability and long-term strategic direction," pairing global investment experience with strong local roots. The structure keeps a global access and identity leader anchored in Gipuzkoa.
Read more: El Diario Vasco
