IMAP Albia Capital advises CAF in its stake-acquisition on ORBITAL Sistemas Aeroespaciales, S.L.


IMAP Albia Capital has advised CAF (Construcción y Auxiliar de Ferrocarriles, S.A.) in its acquisition of a stake in the Navarre company, ORBITAL Sistemas Aeroespaciales, S.L.

By acquiring a stake in ORBITAL, the Guipuzcoa-based multinational enters the aeroespace niche in the critical systems engineering sector, complementing its previous activity in the railway sector.


CAF is a global leader in the railway industry, offering one of the most comprehensive array of products in railway related markets, such as rolling stock, components, infrastructure, signaling and services (maintenance, refurbishing and financial services).

The Company employs more than 8.000 people around the world, having achieved a total turnover of 1.477 M€ in 2017 and is listed in the Spanish Stock Exchange, where its market cap is currently around 1,4 B€.


Orbital is a Company based in Pamplona that delivers to its clients different services in critical systems engineering in the areas of aircraft, aerospace and railway industries.

The Company total turnover was over 5 M€ in 2017 and employs circa 100 people in its premises in Pamplona, Madrid and Ulm (Germany).

IMAP Albia Capital

IMAP Albia Capital ( is a firm focused on M&A activity, being part, as an exclusive member in Spain, of the IMAP global network. IMAP is a global organization currently established in 35 different countries and that has closed, on average in the last 10 years, 220 transactions annually.



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