July 11, 2022 — ADELTE GROUP announced that a group of eight Spanish private industrial investors formalized the purchase from venture-capital fund Baring Equity Group of 50,5% of shares of ADELTE Group, thereby finalizing the 11 years involvement of Baring in the world leading provider of Passenger Boarding Bridges.
In 2011, ADELTE Group signed an agreement with Baring Private Equity Partners to increase ADELTE’s capital and to support its growth in the Seaport Passenger Boarding Bridge business, as well as re-launch the activity of Airport Passenger Boarding Bridges, while at the same time increasing the activity of Services business. This agreement allowed the development of airport and port activities throughout the world, expanding its presence in more than 37 countries and exporting 80% of its business through advanced engineering solutions.
Today ADELTE Group is composed of the following shareholders: The new eight private industrial investors (50%), the founding families (45%) and members of the Management Team (5%)
Josep Maria Bartomeu, president of ADELTE Group commented: “We are very grateful for the contribution and support made by Baring Private Equity during all these years; they have been a great partner by allowing us to continuously improve our management systems. This change in the shareholding entails a strong commitment to ADELTE and reinforces the company’s financial structure to undertake an ambitious and exciting business plan in the coming years. The executive team that has been doing a great job during these times of the pandemic will continue to be responsible for management of the Group. Although our current turnover continues to be affected by the pandemic, the plan is to reach pre-pandemic figures in the next three years.”.