Sintel wants to hire M&A advisor to prospect for potential targets in Europe, CEO says
18 JUN 2019
Sintel, a Sao Paulo, Brazil-based provider of supply chain management software (SCMS) to the automotive industry, plans to hire an M&A advisor in 2020 to lookout for acquisitions in Europe, CEO Carlos Wagner dos Santos said.
Privately-held Sintel wants to rely on M&A to accelerate its growth in Europe, where its SCMS solutions are perceived as a low-cost option for clients in automotive niche segments, Santos said. As a way to become closer to European customers, the Brazilian company opened last year a branch office in Munich, Germany, he added.
Foreign sales currently account for 12% of Sintel´s revenues, which came at BRL 40m (USD 10.3m) in 2018, the CEO said.
Sintel has the wherewithal to fund at least one acquisition in Europe and does not consider a stake sale at the present moment. The company, however, could reassess such a possibility when it consolidates its international expansion, Santos noted.
In an interview to this news service in January 2015, Santos said Sintel was seeking a stake sale to raise about BRL 20m (USD 7.7m at the time) to fund its foreign expansion.
The CEO said the company held preliminary conversations with a few M&A advisors interested in securing a sell-side mandate, but ultimately decided to explore overseas opportunities independently.
The company´s foreign growth strategy includes opening an office in China and ramping up sales to US customers that use its solutions through their Brazilian subsidiaries, Santos noted.
Sintel’s portfolio is divided into three major categories: B2B integration, logistics support and fiscal management. Its core product is a B2B integration platform that enables automotive companies to connect with clients and suppliers. It also helps customers analyze data and communicates with enterprise resource planning solutions by Germany-based SAP SE [ETR:SAP], the CEO said.
Some of its clients include the Brazilian subsidiary of German industrial group ThyssenKrupp [ETR:TKA] and Sao Paulo-based manufacturer of wheels and frames and castings for commercial vehicles and railroad freight cars Iochpe-Maxion [B3:MYPK3], Santos noted.
Sintel´s competitors include global players like France-based Axway [EPA:AXW], Canada-based OpenText [NASDAQ:OTEX] and Atlanta, Georgia-based Seeburger, he added.
The company was established in 1987 by Santos and his business partner Jose Antonio Costardi. Their respective equities in the company are private.
Privately-held Sintel wants to rely on M&A to accelerate its growth in Europe, where its SCMS solutions are perceived as a low-cost option for clients in automotive niche segments, Santos said. As a way to become closer to European customers, the Brazilian company opened last year a branch office in Munich, Germany, he added.
Foreign sales currently account for 12% of Sintel´s revenues, which came at BRL 40m (USD 10.3m) in 2018, the CEO said.
Sintel has the wherewithal to fund at least one acquisition in Europe and does not consider a stake sale at the present moment. The company, however, could reassess such a possibility when it consolidates its international expansion, Santos noted.
In an interview to this news service in January 2015, Santos said Sintel was seeking a stake sale to raise about BRL 20m (USD 7.7m at the time) to fund its foreign expansion.
The CEO said the company held preliminary conversations with a few M&A advisors interested in securing a sell-side mandate, but ultimately decided to explore overseas opportunities independently.
The company´s foreign growth strategy includes opening an office in China and ramping up sales to US customers that use its solutions through their Brazilian subsidiaries, Santos noted.
Sintel’s portfolio is divided into three major categories: B2B integration, logistics support and fiscal management. Its core product is a B2B integration platform that enables automotive companies to connect with clients and suppliers. It also helps customers analyze data and communicates with enterprise resource planning solutions by Germany-based SAP SE [ETR:SAP], the CEO said.
Some of its clients include the Brazilian subsidiary of German industrial group ThyssenKrupp [ETR:TKA] and Sao Paulo-based manufacturer of wheels and frames and castings for commercial vehicles and railroad freight cars Iochpe-Maxion [B3:MYPK3], Santos noted.
Sintel´s competitors include global players like France-based Axway [EPA:AXW], Canada-based OpenText [NASDAQ:OTEX] and Atlanta, Georgia-based Seeburger, he added.
The company was established in 1987 by Santos and his business partner Jose Antonio Costardi. Their respective equities in the company are private.