Glasgow based IQA receives Spanish investment

Friday 15th June 2012

IQA offers Spanish company Elecnor a stake in order to provide impetus for its growth plans

IQA Operations Group Ltd, a company based in Paisley (Glasgow), has agreed to an investment by Spanish multinational Elecnor, which has taken a majority holding of 55% of the company’s share capital. IQA’s main aim in going ahead with this transaction is to obtain greater financial strength to support its current strategy for growth.

IQA is active in the electrical infrastructure sector, in particular the development of electrical installations and substation maintenance for Scottish Power (SP). From now on, following Elecnor’s acquisition of a stake in its share capital, IQA will have more resources to drive forward its strategic plan, which is focused on achieving rapid growth. Elecnor will also bring more than 50 years’ experience to the company, along with its extensive knowledge of distribution and transmission, its highly qualified workforce and its advanced equipment.

For Elecnor, taking a stake in IQA represents a significant boost for the development of its business in Europe. In addition to the United Kingdom, the Spanish multinational already has a presence in a number of markets across the continent, including France, Italy, Belgium and Germany, where it is currently developing projects. This acquisition will also lead to the extension of its activities relating to electricity infrastructure, a sector in which it has already gained a great deal of experience in Spain and Latin America, especially Brazil.

http://www.iqagroup.co.uk/

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