IMAP Albia Capital advises Vitrinor in the sale of its subsidiaries Vitrispan and Revesconsult to Gemba Private Equity

IMAP Albia Capital has been advising Vitrinor, the kitchenware manufacturing group operating under the Magefesa brand name, in the sale of its Vitrispan and Revesconsult to Gemba Private Equity, a fund specializing in investing in industrial SMEs.

Through this acquisition, Gemba hopes to provide the company with the resources it requires to fund its ambitious international expansion plan, thereby generating value for all stakeholders in the company (employees, banks, suppliers, and customers).

‘We are delighted to have reached an acquisition agreement with Vitrinor and with the rest of the Vitrispan and Revesconsult shareholders. We have great expectations for this project. Our aim is to consolidate the group as a benchmark supplier in the manufacture and installation of vitrified enamelled steel panels, both nationally and internationally’, said David Gonzalvo, Head of Investments at Gemba.


The companies, with their headquarters in Guriezo (Cantabria) and Pinto (Madrid), were hitherto owned by Vitrinor, the kitchenware manufacturing group operating under the Magefesa brand name.

Vitrispan and Revesconsult are benchmark names when it comes to the design, manufacturing, and assembly of solutions involving vitrified enamelled steel panels (in which sector it is one of the 3 main producers in Europe), as well as other panelling in a number of sectors.

The versatility of vitrified enamelled steel panels allows solutions to be developed in fields as diverse as construction, industry, consumer goods, and hospitals.

About IMAP Albia Capital’s advice, in the words of Fernando Garay, CEO of Vitrinor: “Psychology”. That is the term I would highlight above their great professionalism, knowledge and proven experience in these kind of transactions.

Psychology led to many aspects, firstly by being very close to the concerns and objectives of human nature that we wanted to achieve with the transaction, looking for a partner that raised a future project which was one of our main concerns, secondly by having enough temperance in this long process, mediating between the parties and thirdly, often acting as psychologists to give us the necessary support and encouragement in these processes hard to carry without losing focus on our core business.

It has undoubtedly been a pleasure to count on their participation and enormously enriching at a professional level for those of us who have been involved from the beginning in the whole operation.”


Gemba Private Equity is a fund specializing in the acquisition, management, and sale of industrial and service-sector companies in Spain. The company operates in the small & medium-sized enterprises arena (with turnover of up to €30m), and performs complete (100%) acquisitions, while also directly performing the management of their subsidiaries. Gemba invests in all activity sectors (except for real estate and financial), and focusses mainly on businesses with succession problems, or those with non-strategic assets, or those wishing to divest themselves of subsidiaries.

In the case of VITRISPAN and REVESCONSULT, the work carried out by VITRINOR and the potential for the product in the international market have been taken into account.


IMAP Albia Capital is a firm specializing in M&A  It is the only Spanish member of the IMAP organization, with a presence in over 40 countries. It is one of the top 10 independent consultants in the Spanish market, , likewise the number one independent consultant. At a global level, IMAP concluded 297 transactions in 2021.

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