What MAT Holding does

MAT Holding (legal entity Mat Investment Holding S.L.) is a family-owned Spanish multinational industrial group headquartered in Parets del Vallès, Barcelona, with origins dating to 1935. The group operates two divisions: Cerestia (agriculture, ~60% of FY2025 revenue) and MatWater Division (water management, ~40% of revenue). Cerestia integrates IQV (copper-based crop protection, biorationals, animal feed additives — 3 production plants in Spain plus subsidiaries in Portugal, Italy, and Turkey), Regaber (precision irrigation pioneer since 1980), Altinco (biostimulants and biocontrol, acquired 2025), TerraNostra (farm modernization operating 19 farms across 1,000+ hectares in Extremadura), and VEGGA (a 50/50 JV digital agriculture platform with Sistemes Electrònics Progrés integrating IoT, predictive analytics, and BASF Agrigenio models). MatWater encompasses Aquestia (hydraulic valves, created 2022 from Dorot/ARI/OCV, production in Israel/USA/India), STF (water filtration in Spain/China/USA/Israel), and Hidroglobal (integrated water cycle solutions including India subsidiary). Revenue is generated primarily through B2B hardware and chemical product sales supplemented by managed farm services (TerraNostra) and a digital platform subscription model (VEGGA). Group revenue reached €429M in FY2025 (+6% YoY) with €65M EBITDA (+16%), 1,276 employees, and commercial presence in 140 countries. The strategic posture combines organic growth — 9% revenue CAGR and 17% EBITDA CAGR since 2019 — with consistent inorganic expansion (Quart de Poblet plant from Bayer 2024, Yamit and SI by STF 2024, Altinco 2025, ModpoW minority stake 2025), financial partnerships (Banco Santander for TerraNostra financing), and unified brand architecture (Cerestia 2025, Aquestia 2022). The customer base spans agricultural enterprises, water utilities, industrial facilities, and municipal water systems across EMEA, North America, and Asia-Pacific, with 70% of revenue generated outside Spain.

Name

MAT Holding

Legal name

Mat Investment Holding S.L.

Website

https://matholding.com

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

MAT Holding is a family-owned Spanish industrial group operating across agriculture and water management. Through its Cerestia and MatWater divisions, it provides crop protection, precision irrigation, biosolutions, digital farming, hydraulic valves, and water filtration to customers in 140 countries, generating €429M in FY2025 revenue.

Ownership category

akta.pro rank

Product category

Agricultural Solutions and Water Management

NAICS

Water Supply and Irrigation Systems (22131)

SIC

Farm Machinery & Equipment (3523), Sanitary Services (4950)

akta.pro primary industry

Irrigation, Fertigation & Nutrient Delivery Systems (Dosing, Injectors, Sensors) (AFAAAHAE)

akta.pro secondary industries

CEA Monitoring, Sensors & Automation Software (SCADA, IoT, Climate/Recipe Control) (AFAAAHAG), Water Treatment, Filtration & Recirculation (RO, UV, Sterilization) (AFAAAHAH), Irrigation Monitoring & Sensors (Flow/Pressure Meters, Soil Moisture, Water Quality Sensors) (AFABAHAJ), Water Treatment & Conditioning for Irrigation (Disinfectants, Biocides, Anti-Scaling) (AFABAHAB), Irrigation Automation & Controls Services (SCADA, Sensors, Telemetry) (AFACAFAI)

Keywords

• Crop protection products
• Precision irrigation systems
• Hydraulic control valves
• Agricultural biosolutions
• Digital farming platforms

Headquarters

HQ city

Barcelona

HQ country

Spain

HQ region

Europe

Offices13 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Agriculture Division (Cerestia) — Product Sales: Revenue from sale of crop protection products (IQV copper-based fungicides, biorationals), precision irrigation systems (Regaber), biosolutions (Altinco), and digital agriculture platform subscriptions (VEGGA). Represents approximately 60% of group revenue. Agriculture business grew 10% in 2025.
2. Water Division (MatWater) — Product Sales: Revenue from sale of hydraulic valves (Aquestia), water filtration systems (STF), and integrated water cycle management solutions (Hidroglobal). Applied across agricultural, industrial, and municipal sectors. Represents approximately 40% of group revenue. Water division grew 4% in 2025.
3. TerraNostra Farm Management & Modernization: Revenue from leasing farmland and transforming it using the group's technologies in irrigation, plant health, and digitalization. Sustainable transformation model targeting medium-sized farms (35–50 ha). Currently manages 19 farms in Extremadura covering more than 1,000 hectares of transformed land. Partnership with Banco Santander provides tailored financing to farmers.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

MAT Holding is a Spanish family-owned multinational industrial group that manufactures and distributes agricultural inputs and water-management hardware. Its agriculture division (Cerestia) delivers crop protection (IQV), biosolutions (Altinco), precision irrigation (Regaber), farm modernization services (TerraNostra), and the VEGGA digital farming platform. Its water division (MatWater) provides hydraulic control valves (Aquestia), water filtration systems (STF), and integrated water-cycle engineering (Hidroglobal). Offerings are sold primarily to agricultural producers and water utilities/municipalities across 18 countries with local operations and commercial reach into roughly 140 markets.

Product overview

MAT Holding operates as a multinational industrial group with two main divisions: Cerestia (agriculture) and MatWater Division (water management). Cerestia integrates five specialized companies—IQV (crop protection), Altinco (biosolutions), Regaber (precision irrigation), TerraNostra (farm modernization), and VEGGA (digital agriculture platform)—to provide comprehensive agricultural solutions. MatWater Division encompasses Aquestia (hydraulic valves/flow control), STF (water filtration), and Hidroglobal (water solutions) for treatment, filtration, conveyance, and control across agricultural, industrial, and municipal sectors. The portfolio represents a platform-plus-modules architecture where Cerestia and MatWater Division serve as umbrella divisions organizing distinct product brands, each addressing different segments of the water and agriculture value chains.

Differentiator

Problem solved

Functional benefit

Brands

• IQV: Crop protection, copper-based fungicides, biorationals, toll manufacturing, and animal feed additives. Founded 1935, operates 3 plants in Spain with subsidiaries in Portugal, Italy, and Turkey.
• Altinco
• Regaber
• TerraNostra
• VEGGA
• Aquestia
• STF
• Hidroglobal

Products and services

• IQV Crop Protection Copper-based and biorational crop protection products (fungicides and plant health solutions) developed for agricultural producers facing regulatory pressure and resistance-management needs.
• Altinco Biosolutions Biostimulant and biocontrol (biosolutions) products designed to complement or replace conventional crop protection while supporting sustainable and residue-compliant crop programs.
• Regaber Precision Irrigation Precision irrigation systems (drip, sprinkler, and automated fertigation) integrated with Agrónic controllers and IoT sensors for efficient water and nutrient delivery on commercial farms.
• TerraNostra Farm Modernization Turnkey farm modernization service (design, installation, and ongoing operation support) that upgrades agricultural operations with irrigation, automation, and digital infrastructure.
• VEGGA Digital Agriculture Platform Digital agriculture platform that connects agronomy, irrigation, and farm data (via mobile/web) to support decision-making and record-keeping for farmers and agronomists.
• Aquestia Hydraulic Valves Hydraulic control valves (families Hy-Mesh, Max, Euro, Series 20, Series 50) for pressure management and flow control in municipal and industrial water distribution networks.
• STF Water Filtration Water filtration systems (Filtros Mignon and DiscClean automatic filters) for irrigation networks, municipal water treatment, and industrial water users requiring low-maintenance filtration.
• Hidroglobal Water Cycle Solutions Integrated water-cycle engineering and management solutions (design, supply, and project execution) for utilities, irrigation districts, and industrial users across the full water cycle.

Quantifiable outcome

• Agriculture business grew 10% and water division grew 4% in 2025, with total revenue reaching €429 million and EBITDA of €65 million (up 16%).
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability3 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core and strategic.

• ModpoW AgriTechnologiescoreStrategic or Co-development Partner · 30 September 2025MatHolding incorporated ModpoW as a strategic partner in the agronomic direction of CERESTIA. The agreement includes MatHolding taking a minority stake in ModpoW. ModpoW is a precision agronomy advisory firm founded in 2010 in Barcelona, combining diagnostics, technology, and technical support for real-time adjustments based on soil, climate, and crop growth conditions. ModpoW operates across the Iberian Peninsula, France, Morocco, and the United States with 17 team members.
• Sistemes Electrònics ProgréscoreStrategic or Co-development Partner · 1 January 202150/50 joint venture between MatHolding and Sistemes Electrònics Progrés to create VEGGA digital precision agriculture platform. Progrés contributes its Agrónic proprietary irrigation controllers; MatHolding contributes agricultural market access and integration with its Cerestia division. Combined investment of €3 million since founding. Progrés, founded in 1985, specializes in irrigation automation technology.
• IRTA (Institut de Recerca i Tecnologia Agroalimentàries)strategicTechnology or IntegrationIRTA collaborated with VEGGA to develop predictive irrigation models and digital twin technology for irrigation forecasting. IRTA is a Catalan public research institute specializing in agri-food research and technology.
• BASFstrategicTechnology or IntegrationBASF's Agrigenio decision-support system integrated into VEGGA's platform for predictive pest and disease management in agriculture. VEGGA leverages BASF's digital tools for crop health monitoring and treatment recommendations.

Scale indicators15 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Netafim (Orbia): Global leader in drip and precision irrigation, owned by Orbia. Directly comparable to MatHolding's Regaber brand in precision irrigation systems for agriculture, serving the same farmer customer base with similar drip technology and increasingly digital irrigation offerings.
• Jain Irrigation Systems: Indian multinational offering precision irrigation, water management, and agri-processing solutions. Comparable to MatHolding's combination of Regaber (precision irrigation), STF (filtration), and Aquestia (valves) in the integrated water-for-agriculture stack.
• Lindsay Corporation: US-based irrigation equipment manufacturer (Zimmatic center pivots, FieldNET digital platform). Closely comparable to MatHolding's Regaber + VEGGA combination in mechanized irrigation hardware and digital farm management software.
• Valmont Industries: Global manufacturer of mechanized irrigation equipment (Valley Irrigation) and infrastructure products. Comparable to MatHolding's Regaber and Aquestia in agricultural irrigation systems and water conveyance infrastructure.

Broad incumbents

• The Toro Company: Diversified manufacturer of turf irrigation, agricultural micro-irrigation, and water management products. Comparable to MatHolding's Regaber precision irrigation line, though Toro's primary focus is professional turf and landscaping rather than broad-acre agriculture.
• Bayer Crop Science: Global crop protection, seeds, and digital agriculture (Climate FieldView) giant. Comparable to MatHolding's IQV crop protection chemistry and digital agriculture ambitions, though at vastly larger scale and broader portfolio.
• Syngenta Group: Global agribusiness leader in crop protection, seeds, and digital services (Cropwise). Comparable to MatHolding's integrated crop protection (IQV) plus digital agriculture (VEGGA) positioning, with much broader product breadth.
• BASF Agricultural Solutions: Major crop protection and digital agriculture (Xarvio) provider. Directly comparable to MatHolding's IQV chemistry franchise; notably, BASF's Agrigenio platform is integrated into VEGGA, making it both a partner and a competitor in digital agriculture.
• FMC Corporation: US-based crop protection and plant health specialist with proprietary chemistry pipeline. Comparable to MatHolding's IQV copper-based and biorational product portfolio targeting similar farmer customers globally.

Emerging players

• Mueller Water Products: North American manufacturer of water infrastructure products including valves, hydrants, and pipe fittings. Comparable to MatHolding's Aquestia hydraulic valve business serving municipal and industrial water customers, though Mueller focuses primarily on drinking water distribution rather than agricultural valves.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MAT Holding