The Basque steelmaker Sidenor advances and consolidates its growth strategy after confirming the agreement to enter Talgo following the acquisition of Trilantic (the investment fund that bought Pacha and owners of Lío Ibiza) the 29.7% stake it held in the train manufacturer.
This Friday the confirmation has arrived that finally the Basque consortium headed by Sidenor and in which the Basque Government, BBK and Vital also participate, is the option chosen by the British fund to exit Talgo’s capital.
Today, Sidenor, based in the Biscay town of Basauri, is a leader in the production of special long steels, as well as an important supplier of calibration products in the European market.
The company has production centers in the Basque Country, Cantabria and Catalonia, as well as sales offices in Germany, France, Italy and the United Kingdom.
According to its Sustainability Report, Sidenor had a workforce of 1,840 people at the end of 2023 and a turnover of close to 1,000 million (938 million).
Its current president, José Antonio Jainaga, headed in 2016 an operation that returned Sidenor to the Basque capital, after having been in the hands of the Brazilian multinational Gerdau. Gerdau sold Sidenor to Clerbil SL, an investment group made up of local managers of the company and headed by the one who was its CEO -Jainaga-.
Other operations
Sidenor’s last operation before Talgo was the acquisition in December of last year of Eplus, a Catalan company specialized in industrial scrap.
Sidenor itself indicated that this acquisition of Eplus was part of its commitment to sustainable growth and the consolidation of its industrial group.
This was not Sidenor’s first acquisition in this sector, since in 2024 it had already acquired Miguel Martín, a scrap metal company based in Fuenlabrada, Madrid and, previously, in 2022 it bought Aguilar Metal Recycling-AMR, specialized in industrial scrap and located in Sagunto (Valencia).
This growth strategy has also led it to develop other operations such as the acquisition in 2022 of Mecanizados de Cremalleras de Dirección – MCD, an automotive auxiliary production company in Vitoria, Álava, as well as eight photovoltaic parks in Catalonia in 2023.
