Tessi had acquired a 100% interest in Graddo Grupo Corporativo S.L. and its subsidiaries.
Graddo, a family-owned company based in Madrid, which specialises in processing documents and means of payment, reported revenues of €15.5 million in 2013 with similar operating margins to those of Tessi documents services. The company has 616 employees.
Graddo, which was founded over 30 years ago and is recognised as one of the leading players in the Spanish BPO market, primarily in the banking sector. Graddo helps companies to outsource the management of their document and business processes, and offers paperless document services, cash receipt and means of payment management, and back-office processing to a wide range of customers.
Tessi is strengthening its Tessi documents services business and is opening up new growth opportunities via this acquisition, which will be immediately earnings enhancing. Thanks to its ability to provide services and technologies that are suited to all business sectors, the Group aims to establish itself as a leader on the Spanish market.
Graddo’s founders will remain as directors and will support the Tessi Group’s ambitious integration and development plans on the Spanish and international markets.
Graddo was advised by ONEtoONE Corporate Finance.