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Redegal is preparing to make the leap to BME to grow with purchases

The software and digital marketing company is looking for a large minority shareholder and a core of equity investors.

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Redegal is preparing to make the leap to BME to grow with purchases

The software and digital marketing company is looking for a large minority shareholder and a core of equity investors.

Redegal is about to make the leap to the market for growing companies. The Ourense-based company dedicated to software development and digital marketing has assured its organic growth, but for its development with acquisitions it needs more financial muscle, which it hopes to find with its listing on BME Growth between the end of this year or the beginning of next.

The company that emerged 18 years ago as a software developer at the hands of its founder, Jorge Vázquez González, sheltered by the School of Computer Engineering of the Galician city, has been delving into digital marketing and digital transformation services for companies among which today are groups such as Bodegas Torres, Inditex, Primor or Abanca. "Redegal is one of the few in Spain that, in addition to digital marketing, we are solutions developers," highlights the company's CEO and owner of 50% of the capital that he distributes with another partner.

The company will shortly open a round of financing to increase capital with a dual objective: attracting many small shareholders and a small group of property investors. "We are not looking for a lot of financial capital, but also to improve corporate governance, attract and retain talent and be able to access larger accounts," says Jorge Vázquez.

Redegal, which last year had a turnover of 7.1 million euros (5.9 million in Spain), has already discounted part of the cost of its IPO last year, for which it has hired VGM Advasory as a registered advisor. Its 15% EBITDA margin has also risen to double digits over the year 2020. "Organic growth is assured; we want to grow inorganically because we see opportunities above all in data analysis, something that obsesses us, and some technologies," he explains.

The intention of the CEO is to remain in the capital with a relevant proportion for at least six years and "of the three or four equity investors -Spanish and American- that we hope to incorporate, we trust that they will not be in a hurry to sell and will provide synergies", he details. .

The foreign market, to which Redegal entered eleven years ago, is another of the pillars of the plan to continue growing at a rate of between 15% and 20% per year. "The team has grown by 40% in the last year and we are already 150. Around 70%-75% of the people work outside Galicia and we exceed the sector average in gender equality, with 38% women", he highlights. .

With headquarters in Ourense, which it will maintain in this city, the company also has offices in A Coruña, Madrid, Mexico and London. This last market was approached before Brexit "as a springboard for Europe and because it is the natural landing port for American companies". Jorge Vázquez points out that "we will not grow in offices, but rather in personnel associated with those we already have."

Regarding the composition of its income, the management committee's plan is to maintain the balance between software development sales and digital marketing at 52% and 48%.

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