Catenon S.A. is a Spanish talent acquisition company whose competitive advantage is based on the use of advanced technologies in the development of its proprietary technology platforms. It offers a digital, global, scalable, and geographically dispersed recruitment model, supported by proprietary technology and real-time market knowledge.
Catenon was founded in 2000 with a demand-driven approach. Its platform—using proprietary software—provides a disruptive solution for more efficiently managing recruitment when there are more applicants (supply) than available qualified positions in the market (demand). Talent Hackers, on the other hand, was launched in 2020 with a supply-driven approach. Its platform—using software and data intelligence—provides a solution when there are fewer applicants (supply) than available positions in the market (demand), which is the case for technology professionals globally. In 2025, the company will take the next step with ByTask, a new way to find talent through a marketplace—based on software and data, combined with artificial intelligence and Web3 technologies—creating the first digital talent platform connecting highly qualified technology professionals with SMEs. This project arose after identifying that 85% of the FTEs in the Talent Hackers network would be willing to collaborate with SMEs in their spare time to earn extra income without leaving their main job. ByTask, like Talent Hackers, operates as a subsidiary of the Group, with its own resources and limited capital provided by the parent company.
Currently, Catenon manages approximately 1,300 new hires annually, compared to an estimated potential market of approximately 36,000, and is expected to reach 4,600 new hires annually by 2030. With an estimated EV/EBIT multiple of 8.7x for 2025 and a projected EBIT of €2.3 million, operating profit is expected to at least grow in line with the growth in new hires. As is always the case with well-managed businesses, starting from an attractive valuation, the shares will follow the performance of the company’s earnings in the medium and long term.
