ALTIOS Group set up an office in Madrid 5 years ago and has witnessed Spain’s potential for external growth. The new acquisition will reinforce ALTIOS Group activities in the country.
Despite the Covid-19 crisis, the Spanish economy has shown significant improvement since the beginning of the year, with steady growth forecast for the next 3 years. The provisions set up by the country have led the IMF and the World Bank to estimate an increase in growth of 5.7% for 2021. This increase positions Spain for the second strongest growth among European countries in the year.
Spain is naturally one of the top destinations for European companies. It is the 13th largest economy in the world in terms of GDP, and has strong connections and specific trade agreements with Latin Americas countries.
Given the importance of Spain for foreign companies and its potentials, ALTIOS decided to acquire the consulting company NAEVA BUSINESS to reinforce its position in Spain with:
- The integration of a company specialized in market development in Spain for foreign companies: business development, domiciliation, recruitment, payroll services, management of subsidiaries, external growth
- About thirty active customers from all sectors of activity: aerospace, automotive, railways, food processing, medical, e-commerce, consumption goods
- Foreign investors from all countries: France, Germany, Canada, USA, China, South Korea
The combination of expertise areas and means of intervention promises ALTIOS’ current and future clients a seamless support capacity and market knowledge.
