Private Assets AG has acquired the Spanish foundry Fundiciones Garbi, S.A. to enhance its European operations and diversify its customer base.
Target Company Overview
On July 10, 2023, Private Assets AG, a Hamburg-based investment firm, signed a purchase agreement to acquire the Spanish foundry Fundiciones Garbi, S.A. The deal involves the complete takeover of the business operations and the existing workforce of approximately 80 employees.
Fundiciones Garbi, S.A. is a well-established foundry operating throughout Europe, located in Abadiño near Bilbao in Northern Spain, a key industrial hub on the Iberian Peninsula. With a production capacity of 20,000 tons per year, the company serves a diverse clientele across various critical sectors, including wind turbine manufacturing, railway vehicle construction, machine and tool manufacturing, as well as engine production.
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Industry Overview in Spain
The foundry industry in Spain has seen significant growth, particularly in response to the increasing demand for low-carbon energy solutions, such as wind power. As one of the leading countries in Eur
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Private Assets AG
invested in
Fundiciones Garbi, S.A.
in 2023
in a Buy & Build / Roll-Up deal
Disclosed details
Revenue: $168M
EBITDA: $14M