In a strategic move for the Galician industrial sector, US investment fund TPG and Spanish firm Ithaka have completed the acquisition of Ferroatlántica, a leading company in the production of ferroalloys and hydroelectric energy. The €170 million deal includes the industrial complexes of Cee-Dumbría and the hydroelectric plants on the Xallas River, both of which are key assets for the local and national economy.
The transaction excluded the Sabón plant, which will remain under the management of Ferroglobe, Ferroatlántica’s parent company until this agreement. This transfer of assets marks a new chapter for the company, aiming to strengthen its market position with a renewed management approach and a commitment to sustainable energy.
The Cee-Dumbría complex is renowned for its production of ferroalloys, essential materials for industries such as steelmaking and automotive manufacturing. Meanwhile, the hydroelectric plants on the Xallas River represent a strategic resource for sustainable energy supply.
With this acquisition, TPG and Ithaka are not only reinforcing their presence in the European industrial market but are also positioning themselves as drivers of innovation and industrial development in Galicia. This move aligns with a global trend toward investments in sustainable and high-impact economic assets.
The deal has raised expectations regarding the company’s future, particularly in terms of technological modernization and preserving local employment—key factors for the region’s economy.
For more details, you can read the original article on La Voz de Galicia.