Clearwater International has advised the shareholders of Grupo Castilla on the acquisition of the HR software business unit of TSICO.
Grupo Castilla is a Spanish software developer specialised in human resources management. The group reached a turnover of €11 million and an EBITDA of €2.3 million in 2014.
TSICO is a Spanish software developer. The business group has approximately 70 clients, including T-System, Grupo Moventia, Panrico-Donuts, Ferroli, Atlantis, Haribo and Levis. It has a workforce of over 300 employees.
With the integration of TSICO, Grupo Castilla reinforces its business and its position in the Spanish market.