iQ International AG (DB:IQL) signed a stock purchase agreement to acquire Tecnova S.A. for $39.4 million on December 28, 2020. As per the consideration terms, $27.4 million will be payable at the closing and $12 million will be represented by a five-year sellers' note. Upon completion, Tecnova S.A.’s entire management team will join iQ International AG. As on December 31, 2019, Tecnova S.A. generated net sales of $64 million and had an EBITDA of $8.7 million. The transaction is subject to antitrust approval and governmental approvals and is expected to complete in February 2021. Juan Manuel Marchán of Pérez Bustamante & Ponce acted as a legal advisor to IQ International AG and Pedro Manuel Pérez of Carmigniani Pérez acted as a legal advisor to Tecnova S.A. for the transaction. Versailles Group, Ltd. advised Tecnova S.A. for the transaction.