Nervión Industries adquiere el 100% del capital de Fivemasa
Nervión Group Industries, a company that provides industrial assembly, repair and maintenance services through its subsidiary company Montajes y Mantenimiento Nervión and also provides engineering, design and assembly services of large high storage capacity tanks through its subsidiary Monesa Ingeniería y Construcción, has completed the acquisition of 100% of the shares of FIVEMASA, a company engaged in the design, production and assembly of solutions intended to control air pollution in the industrial sector.
Nervión Group Industries has a total workforce of 1.300 people and expects to achieve turnover of over €100m in 2015.
Nervión Group Industries itself was purchased in July 2014 by Springwater Capital, LLC, which began a consolidation process within the Spanish sector of industrial services that continued in October 2014 with the acquisition of Daorje, a company providing industrial and waste management services.
FIVEMASA, is a company incorporated in 1980 in Bilbao and is the leader in the industrial air pollution control segment. Its customers are the main worldwide steel mill, foundry and biomass installation operators. The company currently has a workforce of 52 people in its Spanish (Valladolid and Bilbao) and Argentina sites, and expects to produce a turnover of over 10M€ in 2015.
Albia Capital Partners, a Corporate Finance advisory firm integrated in the Pandion Partners international network was the financial advisor of the sellers in this deal.