Amper nears €40M defence acquisition to hit inorganic growth target
What's the deal? Spanish technology group Amper has agreed to acquire an undisclosed Spanish company that specialises in protection systems for civil and military critical infrastructure. The deal carries a fixed price of €40 million, with another €5 million tied to performance targets, and will be made alongside a co-investor.
What's the endgame? The target is Spanish, holds its own technology, and deepens Amper's push into defence and security. Chief executive officer Enrique López said the operation "is already closed" on these terms and will go to the board in October before a formal announcement.
Why now? Amper flagged the deal at its June shareholder meeting, when it described an acquisition valued between €40 million and €45 million involving a co-investor. It said then that it aimed to take 80% to 90% of the company, with roughly half the cost funded by Amper and half by the partner.
What's the context? The purchase is smaller than Amper's acquisition of TeltronicDealroom has a profile for this one. Try Dealroom →, which has a fixed price of €155 million. In that deal, NazcaDealroom has a profile for this one. Try Dealroom → enters Amper's capital with a 7.75% stake via new shares issued at €5.75 each.
Analysts at Banco SabadellDealroom has a profile for this one. Try Dealroom → said the news "is not new," as the company had already signalled the operation in June, and noted there is not yet enough information to assess terms. They estimate the roughly €40 million to €45 million deal equals close to 9% of Amper's market capitalisation.
If Amper covers about half the outlay and the co-investor the rest, its net financial debt would rise around 15%, though leverage would stay below three times, according to Sabadell.
The signal: The deal advances the growth plan Amper set out at its April Capital Markets Day, which targets acquisitions adding about €200 million in sales and €40 million in EBITDA by 2028, focused on defence and security. Sabadell said this operation would complete that inorganic growth goal. Amper's 2026-2028 plan aims for €820 million in revenue, €130 million in EBITDA, and an order book rising from €695 million to €1.3 billion.
Read more: bolsamania.com
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