epsa It wants to continue growing in Spain. French consultancy firm set its sights on FI GroupIt is a consulting firm that specializes in advising companies on tax breaks for R&D investments and receiving public subsidies. According to sources consulted by ‘elEconomista.es’, the foreign company signed an exclusivity agreement to negotiate the purchase of a majority stake. The Spanish company had previously received interest from the French manager PAI Partners and the British bridge point And Gümüşağaç.
The French company, which has more than 1,700 employees, a presence in 35 countries and a sales volume of 700 million euros, is therefore looking for ways to expand its size in Spain. In the same year, it signed the acquisition of Innova Experts, a company specializing in innovation management and access to financing sources (among others, European recovery funds).. Epsa did not respond to elEconomista.es’ request for comment. FI Group declined to comment.
Epsa has already begun due diligence duties to analyze FI Group’s figures, distancing itself from other interested parties in the process. The Spanish company had attracted interest from Silvertree, PAI Partners and Bridgepoint in recent months, but Bridgepoint left the process months ago. The process is coordinated by investment bank Arcanowhich started preparations for the acquisition in 2023.
The company owns Maria Corominas As CEO, he has a turnover of just over 100 million euros and a gross operating result (EBITDA) of between 16 and 20 million euros. In an optimistic scenario and given the current valuation multiples for this type of company, it may be possible for the company to be traded for around €200 million..
Although the company’s presence extends to more than 20 countries, The majority of FI Group’s business is located in Spain, where it has six different headquarters, as well as in France, Portugal and Brazil.. According to the latest accounts available in the parent company’s Commercial Register, more than 91.38% of the company’s business and 1,392 employees are based in these four locations; this represents 90% of the total by the end of 2022.
The capital of the FI Group is in the hands of its two founders. Xavier Cazabon And Frederic Boute. Although the sale of shares represents a change of control in the company by the majority, it is possible for both directors to reinvest and remain on the management team, as is usual in such transactions.
Important breakthrough in Spain
The potential acquisition of FI Group by Epsa would mean a giant step forward in the national market. He arrived in the country in 2016 and his goal so far was to achieve a turnover of ten million euros by 2025. To achieve this, the company is committed to “growth in access to finance and strategic management of the innovation sector.”
