Madrid, October 29, 2019.- COFIDES, the Spanish Development Finance Institution, will support the SEG Ingeniería company in the acquisition of Grupo Peyco's main companies in Latin America, located in Argentina, Bolivia, Chile, Colombia, Costa Rica, Nicaragua, Paraguay and Peru.

COFIDES will make a coinvestment loan of Euros 1 million (75% from FONPYME and 25% from COFIDES itself). Total investment in this project is Euros 6 milllion.

Grupo Peyco has wide international experience and its activity complements that of SEG Ingeniería, which provides engineering and consulting services for  transport infrastructure. With the acquisition of these affiliates, SEG Ingeniería intends to reinforce its international activity.

COFIDES Chairman and CEO José Luis Curbelo indicates that "COFIDES wants to support SMEs in the engineering sector so that they can grow abroad and, at the same time, contribute to the the strengthening of infrastructure, as well as to environmental and social sustainability."

SEG Ingeniería Chairman Ángel García-Cordero Celis underlined the importance of COFIDES support for this project, which allows SEG to acquire greater size and presence in 14 countries.

This project contributes to the attainment of Sustainable Development Goals (SDG) 9 (Industry, Innovation and Infrastructure),  since the company  is developing numerous infrastructure projects, new as well as improved. In this way, it contributes to increased productivity of the economy of a country. The project also responds to Goal 6 (Clean Water and Water Treatment) and Goal 8 (Decent Work and Economic Growth).

COFIDES and FONPYME have collaborated before with the internationalisation of SEG Ingeniería, through different coinvestment loans for the deployment of the company in Colombia, Panama, Mexico and Ecuador.

Sondeos, Estructuras y Geotecnica S.L. -SEG Ingeniería- was founded in 1969 in Valencia (Spain). With this acquisition, the Group can count on more than 350 employees and develop its activity in the sectors of consulting, engineering, achitecture and public works by designing and developing infrastructure, conducting topographic studies and projects related to the planning of construction. The Group is present in Spain, Colombia, Ecuador, Mexico, Panama, Brazil, Peru, Argentina, Chile, Paraguay, Bolivia, Nicaragua, Costa Rica and Algiers.

COFIDES is a public-private company which has been offering financial support to Spanish companies investing abroad since 1988. It is accredited with the EU to manage Community budgets, allowing it to structure transactions with a high impact on development. It is also accredited with the UN’s Green Climate Fund and can structure operations on climate change mitigation and adaptation with the GCF. It is the exclusive manager of FIEX and FONPYME funds on behalf of the Secretariat of State for Trade attached to the Ministry of Industry, Trade and Tourism and supports AECID in managing FONPRODE funds. Shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.