Kartesia and GTO Partners invest in Smarttech

Kartesia, the European specialist provider of financing solutions for small and mid-sized companies, is pleased to announce that is has partnered with mid-market private equity firm GTO Partners (“GTO”) to acquire Iberian software business Smarttech Industry Solutions (“Smart” or “the Company”). Kartesia has also provided a debt financing package alongside its equity investment.

Headquartered in San Sebastian (Basque Country, Spain) and historically part of the wider group Ibermatica, Smart is a leading provider of software solutions to support the transition of industrial customers into Industry 4.0. The Company has a track record of consistent profitable growth serving a loyal and diversified client base in resilient end-sectors, led by a long-standing and experienced management team. New ownership will provide Smarttech with the strategic and financial resources to accelerate its growth and product offering, capitalising on its existing value proposition.

GTO Partners are a UK-based European mid-market B2B software and services private equity firm, with a focus on backing B2B technology leaders. With an operator-led value creation approach, GTO seek to partner with management teams to provide support and resources to unlock the next phase of growth.

The capital was deployed from Kartesia’s Credit Opportunities (“KCO”) strategy. The deal team at Kartesia included Guillermo Ferré, Davide Maggioni, Ana García Vivancos and María Blanquet.

Guillermo Ferré, Head of Spain & Italy at Kartesia, commented: “Smarttech’s current market positioning, well-regarded product offering and growth potential make it the ideal asset to invest in. We look forward to working closely with GTO and the management team to deliver continued growth and profitability for Smarttech moving forwards.”