A single owner in 63% of cases
Almost always the founder. When they decide to step back, there is often no structure ready to hold the company up without them.
Acquiring and managing companies in Spain
We buy family businesses
We buy family businesses
and carry them forward
Behind every company we buy there are decades of a family's work. That is why we come in to stay: we take control, sit on the board and manage for the next decade, not for the next sale.
€0.5-3Mof normalized EBITDA in the companies we buy
Controlwe buy 100% and join the board
3 yearsthe seller stays on after closing
Long-term holdthe company is not sold: it is bought to be kept
The firm
We buy where institutional capital doesn't look
A company with €0.5-3M of normalized EBITDA bought at four times is worth €2-12M. That bracket sits below the floor of almost every Spanish fund, and there the price is agreed in an unhurried conversation between the two parties.
4.0x
Target entry multiple on normalized EBITDA, against a 7.8x average in the Spanish mid-market. The discount reflects size, not the quality of the business.
Where to start
Two different conversations
Owners
You're considering selling your company
What we look for, how we take care of the process from the first call to closing, and what happens in your company the day after. Unhurried and in strict confidence.
For owners InvestorsYou want to invest deal by deal
We are an independent sponsor: each deal is financed separately. What investors receive, on what terms and with what dividend policy.
For investors
Why now
An entire generation of owners is reaching retirement at once
Family firms account for 92.4% of Spanish companies and 70% of private employment. Most of their owners were born between 1957 and 1977, and began retiring in 2023.
65%
of Spanish companies with 10 to 250 employees have no succession plan. Only one in three survives the generational handover: the rest are sold, broken up or closed.
Healthy, not distressed
Many are profitable, well-run companies. Their only open question is who will run them next.
Funds don't reach this size
Spanish private equity invests between €10M and €100M of enterprise value. Analyzing a small company takes them the same work as a large one, so their attention concentrates further up.
How we work
Active ownership, not a change of hands
Criteria
We know what we're looking for, and we say so from the start
Sustained profitability, a clean balance sheet, real cash generation and a business that can be understood. Being selective lets us give real time to each company.
What we look for ExecutionThe price is agreed before anyone spends a euro
We talk directly with the owners, and by the time a deal reaches investors the price is closed and the financing committed.
The process ManagementOne hundred days inside the business
Board in place, cash control and a written plan before hiring anyone. The seller stays three years to hand over clients, suppliers and know-how.
The day after
Let's talk
A first conversation commits you to nothing
We ask for no documents and treat every conversation as strictly confidential. You can write to us directly or through your advisor.
Contact us