The technology consultancy Seidor "has suspended" the search for a minority financial partner to accelerate growth and reach a business of 1,000 million euros in 2025, as confirmed this Wednesday by the CEO of the Catalan family company, Josep Benito.
"The company has the balance sheet and the necessary financial resources to address short and medium-term growth alone and meet the objectives set out in the 2020-2025 expansion plan," said Benito. The executive specified that the entry of a minority partner "is not ruled out, but it is not a priority right now", although during last year it was negotiated with some investor. However, if in the next three years, "we detect opportunities to buy companies where one of the partners can accompany us in growth through a stake in Seidor, we will analyze it," he assured.
The consultancy's expansion remains focused on consolidation and entry into new markets and on the acquisition of companies in the United States, Southern European countries, and Asia. Proof of this are the acquisitions made in the first quarter of this year with the incorporation of Impala Network Solutions and the French WorkWell, reinforcing its national and international presence. Generally, through purchase agreements, Seidor obtains a majority stake.
The group's consolidated business last year amounted to 606 million euros, with a growth of 29.5% compared to 2020. Of the total, 67% comes from Spain, where turnover increased from 302 million to 405 million, with an annual improvement of 34%. "National growth has been driven by the incorporation of new clients in the central area, especially large business corporations and administrations," Benito specified during the presentation of the 2021 annual results.
The CEO of Seidor considered these results "very satisfactory" and highlighted that the company has been growing at double digits for ten years, with the exception of 2020. Benito assured that in 2022 it will continue on the same positive path as last year, because demand continues to grow everywhere as the pandemic has accelerated businesses' needs to invest and bet on technology.
By geographical areas, the weight of the business in the American continent also stands out, where it obtains 27% of its revenues ---basically South America---, while the areas of the rest of Europe, Asia, and Africa each contribute 2%.
The consultancy invests in the training of its workforce of more than 6,000 people to retain talentWith a presence in 40 countries through 80 offices ---20 of them in Spain---, the staff went from 5,416 to 6,157 professionals, 14% more, with 68% of that growth being organic and the rest through acquisitions made. In this regard, the company highlights its effort to retain talent, which is why annual investments in training are significant: in 2021, it allocated 700,000 euros to the training of 400 professionals. After the acquisitions made this year, the workforce currently reached 6,500 employees.
In 2021, with the aim of continuing to boost its service offering and geographical expansion, Seidor acquired the firms NTS, Metrocis, and Sycnet, as well as the Spanish companies Avanti21 and Valnera, to strengthen its presence in Asturias and Cantabria.
Regarding technology providers, the consultancy has reached agreements and strengthened its relationship with Salesforce, Google, AWS, Cisco, Lenovo, and HPE, among others, and has reinforced its alliances with SAP, Microsoft, IBM, and Adobe.
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