What Espiga Equity Partners does

Espiga Equity Partners S.G.E.I.C., S.A., trading as Espiga Capital, is an independent private equity firm headquartered in Madrid, Spain, founded in 1998. The firm specializes in acquiring significant equity participations in profitable Spanish small and medium-sized enterprises with established market positions, demonstrated historic profitability, and defined growth trajectories. Operating for more than 25 years, Espiga has completed 28 investments across diverse industrial sectors including flooring and surface systems (Composan), automotive components (Nagamohr), rubber gaskets and compounds (Algaher and Única), abrasives (Abrasivos Manhattan), sustainable packaging (Plastigaur), beverage dispensing equipment (Tubing Food), sports concessions (Enjoy), industrial adhesives (Ubis), laboratory consumables (Deltalab), and veterinary pharmaceuticals (Indesa/Invesa). The firm's investment situations include family-owned companies seeking liquidity or succession, non-strategic asset divestitures, management teams wanting to participate in capital, shareholder substitutions, and development capital needs.

The product offering consists of two closed-end private equity funds: the original Espiga Equity Fund (€140M, fully invested across seven portfolio companies) and Espiga Equity Fund II (€165M, currently in its investment period), together representing €300M of assets under management. Revenue is generated through management fees on assets under management plus carried interest (performance fees) earned on successful portfolio exits. Deal sourcing is conducted primarily through professional advisor, investment bank, and industry network referrals within the Spanish mid-market. Value creation is pursued through a 100-day post-investment plan, ongoing performance monitoring, and divestment preparation.

Espiga operates as a Sociedad Gestora de Entidades de Inversión Colectiva (S.G.E.I.C.) and is registered with and supervised by Spain's CNMV (Comisión Nacional del Mercado de Valores) under registration number 99. The firm is also a signatory to the United Nations Principles for Responsible Investment (UN PRI), committing to ESG integration in investment analysis, decision-making, and portfolio oversight. The management team is led by Managing Partners Carlos Prado and Juan Carvajal, with Pablo Bilbao as Partner, supported by a Director, an Associate, and an Office Manager in a lean partner-led structure based in Madrid.

Name

Espiga Equity Partners

Legal name

Espiga Equity Partners S.G.E.I.C., S.A.

Website

https://espiga.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

1–10 employees

Short description

Espiga Equity Partners is an independent Spanish private equity firm managing €300M across two funds investing in profitable SMEs with market leadership positions. Founded in 1998, it has completed 28 investments and operates under CNMV supervision.

Ownership category

akta.pro rank

Product category

Private Equity Fund Management

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282)

akta.pro primary industry

Impact / ESG Venture Capital (FSANAAAG)

akta.pro secondary industry

ESG Integration / Responsible Investment Funds (Broad ESG) (FSANAJAL)

Keywords

• Private equity investing
• SME investment management
• Buyout fund management
• Spanish private equity
• Venture capital funds

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Private Equity Fund Management: Generates revenue through management fees on assets under management and carried interest (performance fees) from successful portfolio company exits. Operates two funds: Espiga Equity Fund II with €165M and Espiga Equity Fund with €140M.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Espiga Equity Partners (Espiga Capital) is an independent private equity firm that acquires significant participations in the capital of profitable Spanish small and medium-sized companies with market leadership positions and solid management teams. The firm operates two closed-end funds — Espiga Equity Fund (€140M) and Espiga Equity Fund II (€165M) — totaling €300M in assets under management, providing capital for liquidity, succession, non-strategic asset divestment, management participation, and development capital situations.

Product overview

Espiga Capital is an independent private equity firm offering two investment funds: Espiga Equity Fund (€140m, invested in 7 companies) and Espiga Equity Fund II (€165m, currently in investment period). The firm specializes in acquiring significant participations in profitable Spanish SMEs with solid management teams, focusing on long-term value creation through its investment management services.

Differentiator

Problem solved

Functional benefit

Products and services

• Espiga Equity Fund First private equity fund managed by Espiga Capital, with €140m under management and fully invested across 7 companies in the Spanish market.
• Espiga Equity Fund II Second private equity fund managed by Espiga Capital, with €165m under management and currently in its active investment period, targeting Spanish SMEs with market leadership positions.
• Espiga Capital Investment Management Independent private equity investment management service specializing in acquiring significant participations in profitable Spanish small and medium-sized companies with market leadership, proven profitability, and sustainable growth plans.

Named customers8 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• United Nations - Principles for Responsible Investment (UN PRI)coreStrategic or Co-development PartnerEspiga Capital is an adhering member of the Principles for Responsible Investment (PRI), backed by the United Nations. The firm incorporates ESG issues into investment analysis, decision-making processes, and proprietary policies. They seek transparent disclosure of ESG issues by investee companies and promote acceptance of responsible investment principles in the sector.

Scale indicators5 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Suma Capital: Spanish PE firm with an explicit impact/ESG mandate investing in Spanish SMEs, with a comparable UN PRI-style responsible-investment positioning to Espiga's PRI signatory status.
• Corpfin Capital: Spanish mid-market PE firm (formerly known as Corpfin Capital) investing in profitable SMEs in Spain, with overlapping deal sourcing, fund size range, and value-creation approach — the closest direct peer to Espiga in Iberia.
• Artá Capital: Madrid-based Spanish mid-market PE sponsor acquiring significant stakes in profitable Spanish SMEs — directly comparable deal size, geography, and long-hold buyout strategy.
• Nazca Capital: Madrid-based independent mid-market private equity firm investing in Spanish SMEs, with a similar focus on succession, family-owned companies, and management buyouts — directly comparable strategy, geography, and ticket size to Espiga.
• Magnum Capital: Madrid-based Iberian mid-market PE firm investing across Spain and Portugal in profitable SMEs — directly comparable in fund size, holding period, and mid-market focus, with slightly broader Iberian reach.
• ProA Capital: Independent Spanish mid-market PE firm acquiring majority stakes in Spanish SMEs with strong management teams — highly comparable fund structure, geography, and investment situations (succession, MBO, development capital).
• MCH Private Equity: Spanish mid-market buyout firm managing multiple funds, focused on control investments in profitable Spanish companies — directly comparable in fund size, target segment, and partner-led model.
• MBO Ventures: Spanish mid-market firm focused on management buyouts and development capital in profitable Spanish SMEs — directly comparable on deal type, ticket size, and target entrepreneur/family-owned profile.
• Diana Capital: Spanish mid-market PE firm investing in family- and founder-led Spanish companies with growth and succession themes — directly comparable target segment, ticket size, and value-add thesis.

Regional players

• Norgestion: Iberian (Galicia-headquartered) PE firm investing in Spanish and Portuguese SMEs with a similar mid-market, control-buyout strategy — same target profile as Espiga but with a northwestern regional concentration.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/espiga-capital

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

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

M&A11 records

Investments7 records

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

Frequently asked questions about Espiga Equity Partners