A new milestone in the growth strategy through acquisitions of the Catalan outsourcing company, CTC. The firm, one of the largest in industrial outsourcing in Spain, has completed the purchase of Barsa, a company in Murcia specialising in outsourcing services for the petrochemical industry.
The firm, whose full name is “Casetas, Alquileres y Suministros Barsa”, was until now family owned and based in Cartagena. It has 80 employees and expects to end the current year with a turnover of close to three million euros. Clients include companies such as Sabic -the former General Electric Platics- Enagas and Befesa. Barsa provides both industrial and warehouse management services.
Based in Barcelona, CTC expects to turnover 63 million euros this year, 23% more than in 2010, when it reached 51 million. The company has set itself the challenge of reaching one hundred million in revenue within two years. Its EBITDA stands at around 6% of sales.
The company has 1,500 employees, spread across Catalonia, Madrid, Basque Country, Valencia and Murcia, and serves companies such as Gas Natural Fenosa, Abertis, HP, Isdin, Seur, Hertz and Pastas Gallo.
Two years ago, CTC was acquired by Barcelona venture capital management firm Suma Capital, and the team of directors, led by Juan-Cruz Alcalde. Suma has 75%, and executives have 25%.
In September last year, CTC bought the Catalan firm OCA, which specialises in outsourcing logistics for the steel industry.
According to Suma’s sources, the new acquisition will complement the CTC business both from the sectorial perspective, incorporating the services to the petrochemical industry, and geographically, to gain market presence in Murcia.
According to Enrique Tombas, president of Suma, “the outsourcing services industry is still very fragmented in Spain and CTC is leveraging its leadership position to promote a consolidation process.” In this sense, it is exploring new opportunities for 2013, hoping, according to the executive, that “some of them may crystallise in the first quarter”.
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