Transactions in July benefit Guipúzcoa-based GMTK, Goialde and Azcue, and Álava-based Sagola, which together have 243 employees.
This year, the firm affiliated to the Department of Industry has invested a total amount of €14.6 million in 13 companies headquartered in the Basque Country.
Gestión de Capital Riesgo del País Vasco (SGECR), affiliated to the Department of Industry, Innovation, Trade and Tourism, has approved a €4 million investment to be made in four Basque companies. The transactions were carried out in July with the aim of contributing to these companies’ expansion and consolidation.
Capital Riesgo’s investments went to three companies in Guipúzcoa and one in Álava. The first two are Sagola S.A.U. (80 employees), specialising in the design, manufacture, and marketing of painting and coating equipment, which got €1 million, and GMTK, a machine-tool company based in Zestoa and employing 15 people, which received €1.125 million.
The third company, Goialde, which offers high-precision machining services for the machine-tool and aerospace industries, received €750,000. Also headquartered in Zestoa, this company has 38 employees. Finally, Azcue y Cía., which manufactures home and office furniture and has 110 workers, got €1 million.
These transactions add to nine other investments in Basque companies this year. Together, the thirteen transactions made by Capital Riesgo in the first seven months of 2011 total €14.6 million.
Gestión de Capital Riesgo del País Vasco SGECR, S.A. belongs to Sociedad para la Transformación Competitiva (SPRI), which is part of the Department of Industry, Innovation, Trade and Tourism of the Basque Government. SPRI manages funds to support Basque companies. Established in 1985, SGECR makes temporary minority investments in non-financial, non-listed firms. Capital Riesgo’s main shareholder is the Basque Government through SPRI, whereas the three Basque savings banks and Grupo Mondragon hold minority stakes.
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