Information on the Target

Igneo, a leading sustainable engineering firm in Spain, has successfully acquired 100% of the capital of the environmental consultancy firm Emberiza. This acquisition marks a significant step for Igneo as it aims to enhance its service portfolio and establish itself as a frontrunner in environmental consultancy within the industry. The integration of Igneo and Emberiza results in a combined entity with revenues exceeding 15 million euros, supported by a team of over 400 professionals operating across Spain, Brazil, and Panama.

Emberiza specializes in the processing and approval of renewable energy projects, including wind, photovoltaic, ammonia, and green hydrogen energy. Their expertise encompasses the entire project lifecycle, from preliminary evaluations to decommissioning, including environmental approval processes, construction, and operational management.

Industry Overview in Spain

The environmental consultancy sector in Spain has been experiencing significant growth, driven by increasing regulatory requirements and the country's commitment to sustainable development. As industries pivot towards greener practices, the demand for consultancy services that can navigate these regulatory landscapes is on the rise. Spain’s renewable energy sector, particularly, is poised for expansion due to government initiatives aimed at promoting sustainable energy solutions.

With a strong infrastructure for renewable energy, including solar and wind resources, Spain is actively pursuing a transition towards an environmentally sustainable economy. This shift is supported by European Union policies that encourage investment in green technologies and infrastructure, making it a thriving hub for consultancies focused on environmental solutions.

Moreover, the global focus on climate change is pushing companies to adopt greener operational frameworks, creating opportunities for consultancies providing technical and regulatory guidance. The integration of firms like Emberiza into larger entities like Igneo is part of a broader strategy to leverage collective expertise in addressing environmental challenges.

This dynamic landscape presents ample opportunities for growth within the sector, where established players are consolidating their market positions to better serve the burgeoning needs of various industries looking to comply with environmental standards and expectations.

The Rationale Behind the Deal

The acquisition of Emberiza aligns strategically with Igneo's growth plan initiated post its acquisition by the sustainable investment fund Mago Equity less than a year ago. This particular deal is the first in a series of planned transactions aimed at positioning Igneo as a leader in energy transition engineering services in both Spain and Portugal while facilitating an expansion into Latin America through both organic growth and acquisitions.

Jaime Prado, General Director of Igneo, emphasized that acquiring Emberiza significantly bolsters their capabilities and expertise in environmental services, integrating one of the foremost players in the sector into their operations.

Information about the Investor

Mago Equity is recognized as a pioneering investor in the field of sustainable finance. It is the first

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