LONDON • 11 AUGUST 2026: Walstead Group (“Walstead”), Europe’s largest commercial print business, announces the sale of a minority equity stake in its Spanish printing subsidiaries to Gold Tower Investments (“GTI”).
GTI has acquired 49% of the shares in Walstead’s Spanish subsidiaries: Rotocobrhi, S.A.U., Walstead Encuadernación y Acabados, S.L.U., and Walstead Iberia, S.L.U., which together trade as “Rotocobrhi”.
Information on Rotocobrhi
Rotocobrhi is the largest and most important player in the Iberian commercial printing market – it employs 280 staff at its 4,581m2 manufacturing and studio facility in Tres Cantos, Madrid, and generated revenue of €47.5 million in the year ended 31 December 2025. The business combines significant production capability from its 6 heatset web offset printing presses, extensive bindery, and is supported by a graphic services studio, to produce magazines, catalogues and retail advertising flyers for over 190 leading publishers and retailers in Spain and Portugal who include RBA, ¡Hola!, Condé Nast, and Lidl. Walstead acquired Rotocobrhi from Bertelsmann, the German media conglomerate, in 2015.
Information on GTI
GTI is an industrial investment vehicle focused on the Iberian Peninsula. Its approach is oriented towards the medium to long term, with a strong hands-on involvement in the management of its portfolio companies. GTI combines long-term capital with direct operational engagement, working closely with management teams to deliver efficiency, growth and sustainability.
In the printing and graphic arts sector, GTI manages a portfolio of complementary businesses: Macrolibros, a printer of books and educational content; CEYDE, direct marketing, digital and offset printing; and SyL, a printer of premium books; operating from production plants in Valladolid and Barcelona. With the incorporation of Rotocobrhi under GTI’s management, these businesses will work closely together to extract operational and commercial synergies, offering customers access to a broader range of products and a higher level of service across the full spectrum of colour print in the Iberian Peninsula. Combined, they generate approximately €67 million in revenue and employ around 550 people.
In addition to its portfolio activities, GTI also benefits from the personal experience of its principal, Manuel Torres, who served for more than six years as an independent board member of SGEL, the leading distributor of magazines and newspapers in Spain. This role provided direct exposure to the publishing and distribution value chain and strengthened GTI’s understanding of the needs and dynamics of Rotocobrhi’s core customers.
Management of Rotocobrhi
As part of the transaction, Manuel Torres is appointed Chief Executive of Rotocobrhi, succeeding Debbie Read, Group Commercial Director & CEO of Walstead UK. The Board of Directors will consist of Debbie Read, Mark Scanlon, Chairman of Walstead, Ian Southerland, CFO of Walstead, and Manuel Torres.
Mark Scanlon, Executive Chairman of Walstead, commented: “We are pleased to have GTI as our partner and fellow stakeholder in Rotocobrhi. The combination of Rotocobrhi with GTI’s complimentary printing businesses will provide an unrivalled and comprehensive range of print-related services for our customers. We are looking forward to working with Manuel and his team as Rotocobrhi moves into this next phase of its strategic journey.”
Manuel Torres, CEO of Rotocobrhi and Managing Partner of GTI, commented: “Rotocobrhi holds a unique position in the Iberian printing market – with scale, technology and market leadership that are genuinely difficult to replicate. The combination of Rotocobrhi with GTI’s existing businesses, Macrolibros, SYL, and CEYDE, creates a platform covering the full spectrum of colour print in the Iberian Peninsula, with real opportunities for operational and commercial collaboration across books,
premium editorial, commercial print, and magazines. Together, we will be strongly oriented towards our clients and the quality of service we deliver to them. We are committed to this project for the long-term and we look forward to building on what Rotocobrhi has achieved.”