MiddleGround Capital has acquired IT8, an independent engineering services firm, to enhance its capabilities in the growing markets of automation and electric vehicle services.

Information on the Target

MiddleGround Capital has successfully acquired IT8, a prominent independent engineering services firm specializing in mechanical, electrical, programming, and construction services. Founded in 2004 and headquartered in Valencia, Spain, IT8 operates in both European and American markets, providing critical engineering expertise in line automation for the automotive and intra-logistics industries. The company's core services include the development and integration of Body in White (BIW) welding lines, catering directly to Original Equipment Manufacturers (OEMs) and collaborating with leading automation and system integration entities.

IT8 has established a notable presence across five global locations, including Spain, the United States, Mexico, Germany, and India, enabling it to serve a diverse clientele effectively. As the demand for advanced engineering services grows, particularly in the realms of e-mobility and complex automation solutions, IT8 stands out with its highly skilled team and proven track record, positioning the firm as a leader in its sector.

Industry Overview in Spain

The engineering services sector in Spain is experiencing significant transformation, driven by increasing demand for advanced automation solutions across various industries. With a market value nearing $2 billion and ongoing expansion, companies