GED was distinguished with the Private Equity Award in Spain 2021, in the middle-market category, for its sales operation of GTT (Territorial Tax Management), in its 14th Edition. The awards are organized by ASCRI (Association of Private Equity and Venture Capital in Spain), Deloitte and IESE Business School.
GED invested in GTT in June 2017 through the Private Equity Fund GED V Spain and sold it in August 2020, in full pandemic, to the company of private equity from UK Anacap, achieving a 3x return on investment and an IRR of 39.4%, after increasing its EBITDA by more than 50 % in this period.
The 3 key factors for this operation:
- Conception of a new approach and strategic positioning of GTT: transition from a services company to a technology company, which meant a robust organic growth, a consequence of the number of tenders won, the greater weight of cloud and greater access to smaller customers who were not traditionally covered;
- Growth via acquisitions in Spain, which allowed entry into strategic communities, such as the Basque Country;
- Internationalization of the activity, through the acquisition of a company in the Dominican Republic and strategic agreements in several Latin American countries.