How do you assess the process of leaving BME Growth? Perhaps you were expecting a higher valuation?
At LLYC we see the path at BME Growth as a long-term path. We have had an extraordinary result in the placement of the capital increase with a demand that exceeded the offer five times.
Now we are starting to quote at a very reasonable price and every day the quote will mark different moments, sometimes higher and sometimes lower, but I hope and wish that the company has a growth in its valuation, sustainable, progressive and reasonable in line with the development of the business.
We want to double the business in the next four years, we already have a very important part of that growth guaranteed with the acquisitions that we are closing, one of them a month ago and others that we will close in the coming weeks. This gives us a very comfortable mattress to think that this ambitious challenge of doubling the business is very within reach.
What are the objectives of this operation in the short and medium term for LLYC?
We have analyzed many alternatives to accompany the growth of the company and we have thought and concluded that the market was the formula that best suited our project because it gives us a good valuation, gives us flexibility to access capital when we need it and maintains the institutional framework that a project such as ours has as professional partners, who represent 80% of the capital, and we want to continue to be a decisive force in the strategic development of the company.
Combined all these elements plus the requirement of corporate governance transparency, which we see as something that can enrich and improve us as a company. All of this made BME Growth and the market price very interesting.
What is the company’s growth strategy?
We want to grow, we want half of our growth to come from acquisitions and the other half from organic growth. We have an extraordinary track record of organic growth in the last 25 years and we want to maintain it in the next.
We want to take advantage of the company’s financial strength and our ability to raise capital to accelerate this growth and become a better, more vigorous, more profitable and competitive company in the very short-term scenario.
What are the companies that have on the radar for possible acquisitions?
We are focusing on companies with a high digital technology component. We are completing our offer with digital marketing and performance companies, such as Apache Digital, which we acquired a month ago, and we will continue in that line by adding companies that have artificial intelligence, data analytics and other exponential technologies that we can integrate into our offer of value to customers in the traditional offer, improving it, modernizing it and adapting it to the new times.
What do you consider to be the catalysts for LLYC’s actions?
LLYC is a good investment product for anyone who wants to invest in the medium term because we have a recognized track record, the company’s managers have continuity, experience and we provide the results of recent years as a background of what we are capable of doing.
We have a future project that looks towards technologies and how technology can improve each of the processes in which we intervene and, furthermore, we are in a sector, in a branch of activity, clearly in an upward trend because customers, companies and institutions are seeing and being clear that communication is an essential factor to be successful in today’s world and in the world of the future.
What has Covid-19 meant for the company?
It has been a hard and complicated year, especially on a personal and individual level, people have seen us, our families and our way of life threatened. LLYC was very prepared for an environment like this because internationalization, diversification and the use of technology had already given us the capabilities to defend ourselves in the world of the pandemic and in what comes after, which has really accelerated all these processes.
Therefore, from the business point of view, we had a year 2020 very similar to 2019, which was the best in our history, we came out strengthened in our cash and in our financial capacity and that advised us to make the movements that we have made, we bought the participation that a private equity had in our capital and we approached the future independently and with the ability to say what we thought was best for us, the professional partners, the professionals who work in the firm, the clients and also for the future investors.
Perhaps it is still a bit far … but are you considering jumping to the Continuous Market in the medium term?
Yes, really our project of quotation is of medium and long term. We are convinced that the stock market is a good development scenario for us and we are ready to accept the challenges that come our way when they arrive and we will prepare for it.