Clearwater International has advised the shareholders of multi-million IT distribution specialist GTI on the acquisition of its rival Diode.
GTI, one of Spain’s biggest IT distributors, stocks and distributes products from over 70 hardware and software vendors. The 30 year old business works with most tier-one manufacturers, as well as a range of emerging vendors. In addition to its Madrid HQ, it has offices in Sacavém in Portugal and a North African base in Casablanca.
Diode, which specialises in communications and point-of-sale (POS) technology, works with many well-known international brands, including Honeywell, Lantech and Opticon, and following the acquisition will remain an autonomous entity and brand. The firm has offices in Madrid and Barcelona, as well as a Portuguese outpost in Estoril.
Clearwater International advised GTI; the team was led by partner David Serra and director Miguel Ángel Lorenzo.