Sistemas Técnicos
de Encofrados (STEN)
- New investment
- Location: Spain
- Sector: Construction
- www.sten.es
First investment
3i invested £78m in September 2006 to support the growth of STEN's business through domestic and international expansion.
Nature of business
A leading provider of formwork and scaffolding systems for sale or rental to construction works in Spain, Portugal and Poland.
| Results to 31 December | 2005 (audited) €m |
|---|---|
| Sales | 128.3 |
| EBITDA | 52.7 |
| Net assets | 69.0 |
Current trading
Following a 23.5% rise in revenue in 2006, the outlook for 2007 is favourable with further growth in revenue and EBITDA anticipated as a consequence of STEN's competitive positioning.
Developments since 3i invested
A strengthened sales force, combined with international expansion, have placed STEN in a strong position. 3i has worked with management to introduce management information systems and further professionalise the company.
| 3i Group plc’s investment as at 31 March |
2007 £m |
2006 £m |
|---|---|---|
| Cost | ||
| Equity and loan | 78 | n/a |
| Directors’ valuation | ||
| Equity and loan | 78 | n/a |
| Equity interest | 29% | n/a |
| Income in the year | 0 | n/a |