AUCTUS enters the market for industrial cooling systems and flue gas treatment
AUCTUS invests in SPIG and GMAB
THE TransaCtion
Funds advised by AUCTUS Capital Partners AG announce the successful acquisition of SPIG S.p.A. and GMAB, leading companies in the fields of industrial cooling and flue gas treatment.
Headquartered in Paruzzaro, Novara, Italy, SPIG has established itself as a world leader in developing efficient industrial cooling systems. With over 80% of its revenue generated outside Europe, the company is well-positioned to respond to the growing demand for energy-efficient solutions. Götaverken Miljö (“GMAB”), headquartered in Gothenburg, Sweden, specializes in innovative technologies for flue gas treatment in industrial and energy applications, initially selling in Northern Europe and subsequently expanding its operations in the rest of the continent.
Solutions engineered and installed by SPIG and GMAB, are required both in renewable and thermal power production systems, including hydrogen production, as well as in industrial production plants, including steel and metal, pulp and paper and large data centers.
With a cumulative turnover of around 100 million euro, the company currently operates in more than 80 countries worldwide and employs more than 200 people.
The acquisition of SPIG-GMAB is AUCTUS’ 33rd transaction in Italy since 2007 and brings the total number of Italian platform companies in our portfolio to 6.
AUCTUS StrategY
Within the constantly evolving power generation and industrial production sectors, AUCTUS sees great potential in companies promoting innovative solutions that enhance energy efficiency while minimizing environmental impact.
The cooling systems market, which includes both wet and dry cooling technologies, is projected to experience steady growth driven by the rising demand for efficient heat dispersion in power generation and industrial processes. Concurrently, the flue gas treatment industry is rising, pushed by increasing regulatory pressures for emissions control, fostering an expanding market for the development of innovative technologies. AUCTUS recognizes the potential for growth of two high-quality, specialized global players within this space, enhancing service offerings and operational efficiencies while capturing synergies across the globe.
“The need for clean and environmentally friendly industrial production makes SPIG and GMAB international champions and partners of absolute importance in power & industrial applications. Thanks to this market trend and the skills of the management team, we are convinced that this investment will be yet another success story for AUCTUS.”
Dr. Nicolas Himmelmann, Managing Partner at AUCTUS
“With offices in Italy, Germany, Sweden, Brazil, China, Korea, United Arab Emirates and Saudi Arabia, the Group composed of SPIG and GMAB is a small multinational with high technological and engineering content, representing yet another case of Italian excellence, also thanks to the strategic leadership of an outstanding management team.”
Marco Bortot, Head of AUCTUS Italy
“We are thrilled with the outcome of the transaction, which will allow our group to continue to invest and achieve our growth targets by supporting our customers with increasingly efficient and eco-sustainable plants” commented managers Alberto Galantini and Costante Alverà, CEO and CFO of the group, respectively, who coinvested alongside AUCTUS.
What we are looking for
The group will focus mainly on organic growth, but we are open to evaluating acquisitions if we identify the right companies. Our goal is to strengthen the group with:
- high-quality manufacturers of components for industrial cooling and flue gas treatment systems with a specific technical know-how
- Specialized players that possess unique know-how in engineering innovative and efficient cooling and flue gas treatment
We look forward to discussing further details with you.
Your personal contacts
About Auctus
With over 420 investments in the last 23 years, AUCTUS is the most active investment company for European SMEs. Our investments focus on majority shareholdings in companies with annual sales of between EUR 10 million and EUR 150 million.
AUCTUS stands for sustainable organic growth, but also inorganic growth through acquisitions. We achieve this in a trusting partnership together with the management of our companies. We specialize in building successful medium-sized groups of companies - we make market leaders. The more than 35 experienced AUCTUS investment experts currently manage 50 platform investments from various sectors of the economy. The platform holdings, with a total of over 200 individual companies, generate annual sales of € 3 billion. Sales and earnings have been growing at >10% per year for years.
Our successful work is regularly rewarded with prestigious awards and top international rankings.
