Istria Capital

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• Acacia Capital — Search fund · Backed by Istria Capital

  Search fund vehicle. Led by Gonzalo Mallo. Acquired Let's Health in 2025. Source: https://searchfundsnews.com/acacia-capital-completed-the-acquisition-of-lets-health/

  • Acquired Let's Health in 2025 (Healthcare marketing), Spain. Healthcare marketing and communication agency for pharma (founded 2007) Backed by Alza Capital, Beka Finance, Cabiedes Inversiones, Enrique Locutura, Istria Capital, JB46, Jan Woitschatzke, Jürgen Rilling, León Bartolomé, Luis Camilleri. Source: https://searchfundsnews.com/acacia-capital-completed-the-acquisition-of-lets-health/
• Amboro Capital — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired Edgar Hausmann (Aerospace distribution (tools and consumables)) in Germany, announced Fri May 29 2026 00:00:00 GMT+0000 (Coordinated Universal Time).

  • Acquired Edgar Hausmann in 2026 for Not disclosed (Aerospace distribution (tools and consumables)), Germany. Acquired by Amboro Capital. Backed by Ambit Partners, Istria Capital, JB46 Partners, Innesto Partners, Heritage Holding, Legacy Partners, The Cromwell Harbor Partnership, Thomas Bühler, Gernot Eisinger, Martin Frischknecht, Till Bossert, Alexander Kirn, Finn Wulf, James Turner. Source: https://searchfundsnews.com/amboro-capital-acquires-german-distributor-edgar-hausmann/
• ASPEON Partners — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired AlpinEnergie (B2B energy brokerage and solar) in Austria, announced 2025-10-14.

  • Acquired AlpinEnergie in 2025 for a total EV slightly above 5x 2024A EBITDA (B2B energy brokerage and solar), Austria. Acquired by ASPEON Partners (Anton Stockert-Seilern and Stephan Poell). Backed by Forti Search Fund Partners, Istria Capital, Moonbase Capital. Source: https://searchfundsnews.com/aspeon-partners-acquires-leading-austrian-b2b-energy-brokerage-alpinenergie/
• Asta Capital — Search fund · Backed by Istria Capital

  Search fund vehicle. Led by Miguel Arias; Lorenzo Dávila. Acquired Grupo Logiscenter in 2019. Source: https://searchfundsnews.com/the-entry-of-levata-into-grupo-logiscenter-marks-one-of-the-most-successful-exits-in-spain/

  • Acquired Grupo Logiscenter in 2019 (B2B e-commerce / AIDC), Spain. Madrid B2B e-commerce distributor of AIDC/barcode/RFID equipment; EUR11.5M revenue, EUR1.8M EBITDA (2018) Backed by Antonio Beltrán, Atiud Capital Center, Cabiedes Inversiones, Fernando Herrero, Istria Capital, JB46, Luis Camilleri. Source: https://searchfundsnews.com/the-entry-of-levata-into-grupo-logiscenter-marks-one-of-the-most-successful-exits-in-spain/
• Atlas Partners — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired Stilef (Corrugated cardboard packaging) in Italy, announced 2025-10-02.

  • Acquired Stilef in 2025 for turnover of EUR15M in 2024 with a 20% EBITDA (Corrugated cardboard packaging), Italy. Acquired by Atlas Partners (Giacomo Maria Garbarino and Stefano Carpano). Backed by Alexander Kirn, Istria Capital, Juergen Rilling, Legacy Partners, Loris Lanzelloti, Marc Bartomeus, Novidam, Paolo Guida, Valmaris Private Investors, Vonzeo Capital. Source: https://searchfundsnews.com/atlas-partners-acquires-an-italian-cardboard-packaging-company/
• Axias Partners — Search fund · Backed by Istria Capital

  Search fund vehicle. Led by Marc Desmond; Carlos Oehling. Acquired Amix (Amix Levante) in 2023. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/

  • Acquired Amix (Amix Levante) in 2023 (Healthcare / nutrition), Spain. Sports-nutrition products company Backed by Beka Alpha Search Funds, Istria Capital. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/
  • Acquired Amix Levante in 2023 (Sports nutrition distribution), Spain. Distributor of the Amix sports-nutrition brand (supplements for athletes and sports clubs), Valencia region Backed by Promax Capital Investments, JB46, Istria Capital, ALZA Capital Partners, Atiud Capital Center, Beka Alpha Search Funds, Moonbase Capital. Registry (empresia.es/empresa/amix-levante/) shows Axias Search Partners SL as sole shareholder from 14 Sep 2023. Source: https://www.promaxcapitalinvestments.com/search-funds-variable
• Ayete Partners — Search fund · Backed by Istria Capital

  Search fund vehicle. Led by Álvaro Benito; Jaime Villanueva. Acquired Ciboulette & Domenico in 2026. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/

  • Acquired Ciboulette & Domenico in 2026 (Catering), Spain. Premium wedding/social (Ciboulette) and corporate (Domenico) catering group Backed by Alza Capital Partners, Aurica Capital, Dellin Investments, Ethos Partners, Evolutiq, Istria Capital, JB46, Vonzeo, Marc Bartomeus. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/
• Ayete Partners (Ayete Catering Group) — Search fund · Backed by Istria Capital

  Search fund vehicle. Led by Jaime Villanueva; Alvaro Benito. Acquired Ciboulette and Domenico in 2026. Source: https://aradacp.com/

  • Acquired Ciboulette and Domenico in 2026 (Catering / food services), Spain. Madrid premium catering group: Ciboulette (weddings/social events) and Domenico (corporate catering) Backed by Arada Capital Partners, Istria Capital, Promax Capital Investments. Arada lists 'Ayete Catering Group ... Acquired in 2026'; Istria lists Villanueva & Benito as CEOs of Ciboulette & Domenico; Promax lists Ayete Partners (2024) with the same searchers. Source: https://aradacp.com/
• Baluarte Capital — Search fund · Backed by Istria Capital

  Search fund vehicle. Led by Lorenzo Zavala; Luis de los Santos. Acquired CTAIMA in 2020. Source: https://searchfundsnews.com/investors-in-baluarte-capital-achieved-one-of-their-most-successful-returns-by-exiting-ctaima/

  • Acquired CTAIMA in 2020 (Compliance SaaS), Spain. Tarragona cloud software for contractor compliance / supply-chain risk management; ~EUR8M revenue at acquisition Backed by ALZA Capital Partners, Alza Capital Partners, Istria Capital, JB46, Kinderhook Partners, Promax Capital Investments, Relay Investments, Saltoun Capital Partners, WSC & Company. Source: https://searchfundsnews.com/investors-in-baluarte-capital-achieved-one-of-their-most-successful-returns-by-exiting-ctaima/
• Cedo Capital — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired Rolfroz (Vegetable and fruit processing) in Poland, announced 2025-09-30.

  • Acquired Rolfroz in 2025 (Vegetable and fruit processing), Poland. Acquired by Cedo Capital (Monika Wincel). Backed by Ambit Partners, Cerralvo Capital, Evolutiq, Innesto Partners, Istria Capital, Search Fund Pioneers, TTCER Partners. Source: https://searchfundsnews.com/cedo-capital-acquires-polish-rolfroz-in-one-of-the-largest-sf-transactions-in-europe/
• Cneo Partners — Search fund · Backed by Istria Capital

  Search fund vehicle. Led by José María Jover Santillana; Ignacio Jarava. Acquired Ingeniería y Prevención de Riesgos in 2026. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/

  • Acquired Ingeniería y Prevención de Riesgos in 2026 (Safety consulting), Spain. Construction-sector safety coordination and risk-prevention specialist (since 1996) Backed by Relay Investments, Istria Capital, Vonzeo Capital, Ethos Partners, Evolutiq, Beka Alpha Partners, Alfonso Blohm, Felipe Corcuera, Joachim de Belgique, Tobias Raeber, Bruno Lea. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/
  • Acquired IMASP (Occupational health & safety services), Spain. Spanish provider of regulatory/mandatory occupational health-and-safety services (imasp.es) Backed by Istria Capital, Relay Investments, Innesto Partners. JOIN ROW: Istria lists Jose Maria Jover & Ignacio Jarava as CEOs of IMASP; Relay and Innesto list CNEO Partners (Spain, founded Feb 2024) with the same two searchers. Acquisition year not stated on fetched pages (fund launched Feb 2024, so 2025-2026). Source: https://istriacapital.com/entrepreneurs/
• Fitex Capital — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired Napolillo Industry (Industrial laundry services) in Italy, announced 2025-02-11.

  • Acquired Napolillo Industry in 2025 (Industrial laundry services), Italy. Acquired by Fitex Capital (Daniele Schiavello and Giulio Marini). Backed by Agirax, Cerralvo Capital, Forti Search Fund Partners, Gernot Eisinger, Innesto Partners, Istria Capital, Jan Woitschaetzke, JB46, Juergen Rilling, Kinderhook Partners, Search Fund Capital, SFClub, Vito Giurazza. Source: https://searchfundsnews.com/italian-fitex-capital-acquires-the-industrial-laundry-napolillo-industry/
• Iberica Investment Partners — Investor · Backed by Istria Capital
  • Acquired Carpro Systems in 2020 (Mobility software), Spain. Car-rental / mobility management SaaS (later merged into Emotion Mobility) Backed by Relay Investments, Thomas Buehler, Gernot Eisinger, Istria Capital, Atiud, Edge Partners, AIJ Global. Source: https://searchfundsnews.com/new-spanish-exit-emotion-mobility-secures-strategic-growth-investment-from-psg/
  • Acquired Jimpisoft in 2020 (Mobility software), Portugal. Portuguese mobility/rental software (Rentway); merged with Carpro into Emotion Mobility, Lisbon Backed by Relay Investments, Thomas Buehler, Gernot Eisinger, Istria Capital, Atiud, Edge Partners, AIJ Global. Source: https://searchfundsnews.com/new-spanish-exit-emotion-mobility-secures-strategic-growth-investment-from-psg/
• Inderwies Unternehmensnachfolge — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired Apoplex Medical Technologies GmbH (MedTech SaaS) in Germany, announced 2025-05-20.

  • Acquired Apoplex Medical Technologies GmbH in 2025 for $19.1M (MedTech SaaS), Germany. Acquired by Inderwies Unternehmensnachfolge. Backed by Alexander Kirn, Alza Capital Partners, Ambit Partners, Istria Capital, Juergen Rilling, Nico Gormsen, Relay Investments, Simon Webster, Thomas Buehler, William Thorndike. Source: https://searchfundsnews.com/third-german-sf-acquisition-in-2025-underscores-continued-focus-on-software/
• Istria Capital — Investor, Madrid, Spain

  Search fund investor (Category B) · Madrid, Spain · 43 total acquisitions (6 international); shifted focus from LATAM to Europe in 2023, Software/Services.

• Konkordia Unternehmensnachfolge — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired KKD GmbH (Fleet management and vehicle services) in Germany, announced Wed Aug 27 2025 00:00:00 GMT+0000 (Coordinated Universal Time).

  • Acquired KKD GmbH in 2025 for Target revenue exceeds €20M; deal price not disclosed (Fleet management and vehicle services), Germany. Acquired by Konkordia Unternehmensnachfolge. Backed by Istria Capital, Alza Capital Partners, Lineage, Forti Search Fund Partners. Source: https://searchfundsnews.com/konkordia-takes-over-german-kkd-gmbh/
• Lacus Legacy — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired Pharmacom Handels GmbH and Binder Pharmaservices GmbH (Pharmaceutical distribution and data services) in Austria, announced 2025-09-02.

  • Acquired Pharmacom Handels GmbH and Binder Pharmaservices GmbH in 2025 (Pharmaceutical distribution and data services), Austria. Acquired by Lacus Legacy. Backed by Alza Capital Partners, Ambit Partners, The Cromwell Harbor, Evolutiq, Istria Capital, JB46, Lineage, RP Global, Scipio Swanlaab, TTCER Partners. Source: https://searchfundsnews.com/lacus-legacy-closed-one-of-the-largest-sf-acquisitions-in-europe/
• Lemuy Group — Search fund · Backed by Istria Capital
  • Acquired Demarka S.A. in 2021 (Distribution), Chile. Lemuy Group acquired 80% of Demarka, an industrial labelling and office supplies company.
• Libertum Capital — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired Grupo Security (Master Security 3000, Gestion y Control de Lorca, Gestion de Seguridad y Control, Ponce y Moya Servicios) (Security and video surveillance services) in Spain, announced 2026-03-20.

  • Acquired Grupo Security (Master Security 3000, Gestion y Control de Lorca, Gestion de Seguridad y Control, Ponce y Moya Servicios) in 2026 (Security and video surveillance services), Spain. Acquired by Libertum Capital (Juan Bolivar and Jorge Gimenez-Arribas). Backed by Alza Capital Partners, Atiud, Beka Finance, Cerralvo Capital, Enrique Locutura, Istria Capital, Jose Antonio Larraz, Lukas Matzinger, ONEtoONE Asset Management, Tres Coronas, Vonzeo Capital, William Thorndike. Source: https://searchfundsnews.com/libertum-capital-acquires-spanish-grupo-security/
  • Acquired Grupo Security in 2026 for Enterprise value estimated at approximately €10M (Security and video surveillance systems), Spain. Acquired by Libertum Capital (Juan Bolívar and Jorge Giménez-Arribas). Backed by Cerralvo Capital, Alza Capital Partners, Vonzeo Capital, BekaFinance, Istria Capital, ONEtoONE Asset Management, Atiud, Tres Coronas, Enrique Locutura, Jose Antonio Larraz, Will Thorndike, Lukas Matzinger. Source: https://searchfundsnews.com/libertum-capital-acquires-spanish-grupo-security/
• Nobis Capital — Search fund · Backed by Istria Capital

  Search fund vehicle. Led by Arturo Álvarez-Marcello Casado; Ignacio Ortiz Figueroa. Acquired Leaseir Medical Light in 2023. Source: https://moonbasecapital.com/from-search-to-acquisition-how-nobis-capital-secured-leaseir-and-began-a-new-chapter/

  • Acquired Leaseir Medical Light in 2023 (Medical devices), Spain. Gijón designer/manufacturer of laser hair-removal medical devices Backed by Moonbase Capital, Istria Capital, Relay Investments. Source: https://moonbasecapital.com/from-search-to-acquisition-how-nobis-capital-secured-leaseir-and-began-a-new-chapter/
  • Acquired Leaseir in 2023 (Medical devices), Spain. Gijon-based designer and manufacturer of high-power diode laser hair-removal devices for aesthetic and medical use; sold to Mesia 523 Asset Management SL in Dec 2025 per registry (empresia.es/empresa/leaseir-technologies/) Backed by Moonbase Capital, JB46, Relay Investments, Istria Capital, Promax Capital Investments. Source: https://moonbasecapital.com/from-search-to-acquisition-how-nobis-capital-secured-leaseir-and-began-a-new-chapter/
• Quo Inversión — Search fund · Backed by Istria Capital

  Search fund vehicle. Led by Narcís Feliu de la Peña; Ariadna Cañellas. Acquired Hermex Ibérica in 2025. Source: https://searchfundsnews.com/duo-sf-quo-inversion-acquires-a-spanish-sme-in-the-school-furniture-and-equipment-sector/

  • Acquired Hermex Ibérica in 2025 (School furniture), Spain. Catalan school furniture and educational equipment maker/distributor; EUR11.5M revenue, EUR1.4M EBITDA (2023) Backed by Alza Capital Partners, Cerralvo Capital, Going Investment, Istria Capital, JB46, Turtle Capital, Vonzeo Capital, Gernot Eisinger, Thomas Büehler, Luis Camilleri, Marc Bartomeus, José María Clotet. Source: https://searchfundsnews.com/duo-sf-quo-inversion-acquires-a-spanish-sme-in-the-school-furniture-and-equipment-sector/
• RNP Growth — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired Duco Travel Summit (Luxury travel events and experiences) in Italy, announced Thu Aug 27 2026 00:00:00 GMT+0000 (Coordinated Universal Time).

  • Acquired Duco Travel Summit in 2026 for Not disclosed (Luxury travel events and experiences), Italy. Acquired by RNP Growth. Backed by Istria Capital, Inseta Partners, Cerralvo Capital, The Cromwell Harbor Partnership, Martell Capital Partners, Celium, Spectra Investments, Jurgen Rilling. Source: https://searchfundsnews.com/rnp-growth-acquires-italian-duco-travel-summit/
• Sachem Partners — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired Lanaccess in 2018. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/

  • Acquired Lanaccess Telecom in 2018 (Security technology), Spain. Video-surveillance and AI video-security solutions for critical-infrastructure clients, 25+ years Backed by Istria Capital, MAYRIT Capital Partners, Bietou Capital, Blake Winchell, JB46, Scott Asen, Antonio Carranceja, Kinderhook Partners, Leon Bartolome, Vonzeo Capital. Registry shows Malinau Investments SL as sole shareholder of Lanaccess from 29 Jan 2019 with Di Cecco and Guillem as directors; sachempartners.com names them as Sachem's managing partners and lists the partner-investors. JB46/Relay give acquisition year 2018. Vonzeo link from existing mind map. Source: https://www.empresia.es/empresa/lanaccess-telecom/
  • Acquired Lanaccess in 2018 (Security software), Spain. Video surveillance software solutions Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/
• Taurus Capital — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired Bike Ocasión in 2022. Source: https://searchfundsnews.com/2nd-exit-in-spain-in-2024-seaya-andromeda-acquires-70-stake-in-bike-ocasion/

  • Acquired Bike Ocasión in 2022 (Circular-economy retail), Spain. Omnichannel refurbished-bicycle retailer, Spain's market leader Backed by Istria Capital, Cerralvo Capital, Liberty Search Ventures, Alza Capital Partners, Afinum, JB46, Vonzeo Capital, Luis Camilleri, Fernando Herrero, Paz Ambrosy. Source: https://searchfundsnews.com/2nd-exit-in-spain-in-2024-seaya-andromeda-acquires-70-stake-in-bike-ocasion/
• Terra Firma Capital — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired Termotur and Airnou (Grup Nextclima) (HVAC (heating, ventilation, air conditioning) services) in Spain, announced Thu Sep 18 2025 00:00:00 GMT+0000 (Coordinated Universal Time).

  • Acquired Termotur and Airnou (Grup Nextclima) in 2025 (HVAC (heating, ventilation, air conditioning) services), Spain. Acquired by Marc Giné (Terra Firma Capital). Backed by Istria Capital, ONEtoONE Asset Management, Ethos Partners (now Orca Equity Partners), Beka Finance, Cabiedes Inversiones, Luis Camilleri, Secways, Turtle Capital, Xavier Pladellorens. Source: https://searchfundsnews.com/spanish-searcher-buys-2-companies-in-the-hvac-sector/
• Tilden Capital — Search fund · Backed by Istria Capital

  Search fund vehicle. Acquired Grupo Espiral MS in 2021. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/

  • Acquired Grupo Espiral MS (Proactivanet / Prosafety) in 2021 (Software), Spain. Asturias software group: ProactivaNet IT asset/service management and Prosafety EHSQ software Backed by Istria Capital, JB46, Relay Investments, ALZA Capital Partners. Proactivanet: 'In 2021, Tilden Investments, headed by its new CEO Alvaro de Rivera, made an important investment'. Registry (empresia.es/empresa/espiral-microsistemas/) shows Tilden Investments SL as sole shareholder. Source: https://www.proactivanet.com/en/about-us/
  • Acquired Grupo Espiral MS in 2021 (Software), Spain. Software company Backed by Relay Investments. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/
• Transición — Search fund · Backed by Istria Capital

  Search fund vehicle. Led by David Jacq. Acquired Mapex in 2018. Source: https://searchfundsnews.com/mapex-enters-a-new-phase-of-growth-following-its-integration-into-the-proalpha-group/

  • Acquired Mapex in 2018 (Industrial software), Spain. Barcelona MES (manufacturing execution systems) software provider; EUR5.7M revenue 2018 Backed by ALZA Capital Partners, Alza Capital Partners, Bill Egan, Cabiedes Capital, Istria Capital, León Bartolomé, Relay Investments, WSC & Company. Source: https://searchfundsnews.com/mapex-enters-a-new-phase-of-growth-following-its-integration-into-the-proalpha-group/
• Versa Capital — Search fund · Backed by Istria Capital

  Search fund vehicle. Led by Maxime Weissend. Acquired TodoExtintor and Seguretat SM Alcarràs in 2023. Source: https://searchfundsnews.com/versa-capital-completes-its-search-process-with-the-acquisition-of-todoextintor-and-seguretat-sm-alcarras/

  • Acquired TodoExtintor and Seguretat SM Alcarràs in 2023 (Fire safety), Spain. Fire-equipment manufacturer (EUR8M sales) and gas-extinguishing services firm (EUR1.5M) Backed by ALZA Capital Partners, Alza Capital Partners, Cabiesa Capital, Ethos Search Capital, Istria Capital, Novidam, Sentinel, Tres Coronas Capital. Source: https://searchfundsnews.com/versa-capital-completes-its-search-process-with-the-acquisition-of-todoextintor-and-seguretat-sm-alcarras/
• Vesta Capital Partners — Search fund · Backed by Istria Capital

  Search fund vehicle. Led by Carlos Fernández. Acquired Salvavidas Cardio (Anek S3) in 2021. Source: https://searchfundsnews.com/another-exit-in-spain-salvavidas-cardio-acquired-by-safe-life/

  • Acquired Salvavidas Cardio (Anek S3) in 2021 (Healthcare), Spain. AED / cardio-protection-as-a-service and training; EUR5-6M revenue Backed by ALZA Capital Partners, Alza Capital Partners, Cabiedes Capital, Istria Capital, JB46, Juergen Rilling, Pacific Lake Partners, Relay Investments. Source: https://searchfundsnews.com/another-exit-in-spain-salvavidas-cardio-acquired-by-safe-life/