The EM&E group (Escribano Mechanical & Engineering) has increased its stake in Indra by 6.3%, to grow from 8% to 14.3% in the shareholding of the technology company specialized in defense. At current market prices, this increase is valued at around 190 million euros. With this operation, the group controlled by the Escribano brothers materializes its objective of growing Indra above 10%. As the group explains in a statement, this investment “expands its commitment to strengthening the Spanish industrial fabric and contributes to positioning Spain as a global benchmark in the defense and security sectors.”
The Spanish family company, specialized in innovation and defense and security technology, was already Indra’s first industrial partner and its second largest shareholder of the multinational, only surpassed by SEPI, so now it reinforces its position in the company chaired by Marc Murtra.
Ángel and Javier Escribano’s company specifies that, in the current geopolitical context, the EM&E group reflects with this commitment “its firm commitment to the growth and development of the technology industry and consolidates its presence in the strategic sectors of defense, aerospace and security, strengthening synergies with Indra, a key player in these areas”.
EM&E expects to earn 300 million euros this year, of which more than 60% correspond to the international market, Therefore, its greater presence in Idra allows it to increase its influence to meet the high global demand “for remote weapons stations, munition guidance systems, anti-drone solutions, robots, as well as border surveillance systems, solutions in which it is a European and international reference”.
With a order book exceeding 1,000 million eurosEM&E has recently renewed its BBB (Investment Grade) rating, a recognition that provides it with solvency to undertake corporate operations and that only 8% of the audited companies achieve. The company, founded in 1989, assures that it has based its growth on “a strategy of vertical integration of capabilities and technologies and a strong commitment to investment in R&D, which has allowed it to be at the technological forefront of the development of complex defense systems of high reliability and added value”.
Escribano has a staff of almost 1,300 professionals and emphasizes its strategic commitment “to territorial cohesion”, with centers in Madrid, Huesca, Córdoba, Asturias, Cádiz and Valencia, the Spanish defense group “consolidates the different investments it has made during this year.” Among them stands out the acquisition of new infrastructure, the creation of its new electronics subsidiary EM&E Electronics and the companies that it will integrate into it, as well as the incorporation of new strategic capabilities, such as robotics and photonics technology.
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