El cristalero de Google y la Sagrada Familia explora la entrada de un socio en su capital

Spanish glass company Tvitec is seeking at least €80 million in new capital to finance the construction of a new factory for its floating glass panels near Ponferrada in León. The Spanish family-owned firm, specializing in transforming glass for unique projects, is looking for a financial partner to provide the required funding for the expansion project, which is currently in its initial stages.

Tvitec's founder, chairman and CEO Javier Prado will continue to hold a majority stake in the company after the new investment. The company, which was founded in 2009 and is the largest European player in its sector, generates nearly €210 million in revenue and has experienced annual growth rates of around 20% over recent years.

With an ebitda of between €50 and €60 million, Tvitec supplies glass for several high-profile projects, including Google's new headquarters in California, Barcelona's Sagrada Familia cross, and several skyscrapers in Manhattan, New York. The company is also the world leader in glass for skatepark surfaces. Tvitec operates with 400,000 square meters of facilities.

The new factory, expected to begin construction in 2027, will require an investment of €185-190 million, of which €120 million will be provided through a loan from the Ministry of Industry via Sepides. The remaining €80 million will be contributed by the new financial partner through a capital increase, also anticipated for 2027, a few months before the commencement of the works.

The establishment of the new plant is expected to double Tvitec's size within six to seven years, resulting in revenues exceeding €400 million and an ebitda of €120 million. Strategically important to the Spanish government and the Junta de Castilla y León, the new facility will also help alleviate Spain's existing deficit in glass as raw material.