Big Spanish Integrator Trison’s Financial Backers Looking To Cash Out
April 29, 2022 by Dave Haynes
Sixteen:Nine’s German language partner Invidis is reporting this morning that the big European digital signage and pro AV integrator Trison is up for sale, having appointed a financial advisor to guide a hoped-for transaction.
The For Sale sign for the Spanish firm was triggered by Madrid-based financial investor Portobello Capital looking to cash out after five years, having acquired roughly 70% of Trison’s shares back in 2017. Invidis reports that Canadian investment group Canaccord Genuity has been engaged as the financial advisor for the sale.
The money people are hoping for a €200 million valuation for the company, which was founded in La Coruna (northwest Spain) in 1999. In 2021, Trison’s sales were around €60 million, with an EBITDA of €14-€15 million.
The company counts the Inditex Group (which is fast fashion giant Zara), Fnac, Starbucks, C&A and Porsche among its most important customers. It employs 250 people, including those absorbed in recent years through the Portobello-funded acquisition of integrators TMM in France and Beaver in the UK, as well as the Spanish digital agency Necsum.
This is the second big EU integrator to go through a sale in the past year, reports Invidis. Last fall, the Nordics region integrator Zeta Display went private in an investment by British financial investor Hanover, for a company valuation of almost €100 million.
Given that Trison is in Spain and has offices in Barcelona, I suspect there will be a few meetings planned for a couple of weeks from now during ISE. I can’t speak much to the financials, but there are some very sharp people in that collection of companies and some fabulous reference projects on both the build and creative sides. And while Trison is seemingly most active in Spain, the company has offices and/or people in 14 cities globally, including Seoul, Tokyo and Shanghai.