Grupo Castilla acquires the SWRH business unit of TSICO

Logo - Carlos Castilla Ingenieros SA (Grupo Castilla)

Clearwater Advisor

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.