Indra and the North American fund Bain Capital reach an agreement to acquire a 9,5% stake in ITP Aero

For a value of 175 million euros

Indra and ITP Aero have also reached a framework agreement that establishes the bases for a
strategic technological collaboration with the objective of enhancing its value, taking advantage of synergies and promoting
the joint development of systems and technologies.

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Indra and the North American background Bain Capital have agreed to take a 9,5 percent stake in ITP Aero, a world leading company in aeronautical and industrial engines, with a value of 175 million euros. Indra and ITP Aero have also reached a framework agreement that establishes the bases for a strategic technological collaboration with the aim of enhancing its value, taking advantage of synergies and promoting the joint development of systems and technologies, including developments resulting from cooperation. In the FCAS, the program future European air combat system, of which Indra is the national industrial leader.

With this acquisition, Indra will enjoy the usual rights for a minority stake of this size, including representation on the Board of Directors.

“The entry into the capital of ITP Aero has a clear industrial vocation and represents a new step in Indra's new growth strategy to become the great driving company in the Defense in Spain, in order to guarantee the strategic autonomy and technological sovereignty of our country. This operation also gives both Indra and ITP Aero greater strength, expands their technological capabilities and their opportunities to compete with large companies in the aerospace and defense markets,” he underlines. Marc Murtra, president of Indra.

In turn, the CEO of Indra, José Vicente de los Mozos, highlights that “this operation reinforces our position as a prime contractor in the Defense and Security sector, with a key role as coordinator of many of the Spanish and European Defense programs. We are going to continue promoting collaboration and cooperation with other companies, as we have already done with ITP Aero, Navantia or Tecnobit, to build a strong industrial ecosystem that can assume the relevant role that corresponds to our country in Europe and on a global scale.”

Ivano Sessa, head of Bain Capital, declared “we welcome Indra as a shareholder of ITP Aero. Since our acquisition, ITP Aero has had a successful journey of growth and Capabilities and we believe that this event marks uAn important strategic milestone for ITP Aero. "We believe that Indra's support, together with the IVF, will further strengthen ITP Aero's position as a leading player in the global A&D panorama."

To Carlos Arzola, General Director of ITP Aero “With the addition of Indra to the shareholding and the framework agreement for technological collaboration, ITP Aero continues its growth path, driven by the recovery of civil aviation – air transport has almost completely recovered from the consequences of the Covid-19 pandemic and airlines are announcing large orders to increase and renew their fleets – as well as strong demand in the defense business.”