IBV GROUP LTD

What IBV GROUP LTD does

IBV GROUP LTD (legally Iberian Ventures Investments SL) is a privately held investment and roll-up platform founded in 2019 by Luis Reyes together with co-founders Alejandro Zala and Álvaro Guitard, headquartered in Barcelona with a Madrid office. The firm acquires and consolidates fragmented Spanish SMEs in regulated, recurring essential services — primarily active fire protection under the Grupo Fire platform (founded 2023) and agri-food equipment under Grupo Comavic (anchored by the 2021 acquisition of Comavic in Reus). As of late 2025, Grupo Fire had integrated approximately 35 SMEs across Catalonia, Madrid, the Valencian Community, Aragon, Andalusia, Castile and León, and the Balearic Islands, serving more than 70,000 customers and operating with ~400 professionals.

The company’s differentiation rests on a codified consolidation playbook: structured 30/60/100-day integration processes, proprietary AI/tech tools (Titan and Heat) developed by an internal function called IBV AI Labs, and standardized systems for pricing optimization, customer retention, route densification, and back-office automation that are embedded from day one of each acquisition. Capital is provided by Madaus Capital Partners (Germany) as principal investor alongside a German family office, with approximately €40M deployed to date (targeted to scale to €50M) and a stated exit return target of 2.5x–5x equity.

Revenue mechanics are predominantly managed-services recurring maintenance on regulated fire-protection contracts (Grupo Fire reported €32.3M revenue and €8M EBITDA in FY2024, with €35M projected for 2025 and €100M targeted by 2028), complemented by project-based hardware sales and farm set-up work in Grupo Comavic. Pricing and investment terms are not publicly disclosed; the firm does not sell to end customers directly but rather builds, professionalizes, and ultimately intends to exit institutional-grade middle-market platforms, with typical exit counterparties being pan-European PE funds.

Name

IBV GROUP LTD

Legal name

Iberian Ventures Investments SL

Website

https://ibvgroup.com

Company type

Private

Founded year

2019

Operating status

Operating

Short description

IBV GROUP LTD is a Barcelona-based private equity roll-up builder that consolidates fragmented Spanish SMEs in regulated essential services — primarily fire protection (Grupo Fire) and agri-food equipment (Grupo Comavic) — using operational playbooks and proprietary AI tools to scale platforms for eventual pan-European exit.

Ownership category

akta.pro rank

Product category

Private Equity / Buy-and-Build Platforms (Essential Services)

NAICS

Computer Systems Design and Related Services (54151), Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

AI Integration & Orchestration Platforms (Connectors, Workflow, iPaaS for AI) (HDAEANAI)

akta.pro secondary industries

iBPMS (Intelligent BPM Suites) & Process Automation Suites (HDAEAHAG), iPaaS (Cloud Integration Platforms) (HDAEAIAB)

Keywords

• Private equity roll-ups
• Buy-and-build strategy
• Fire protection services
• SME consolidation
• Essential services investment

Headquarters

HQ city

Barcelona

HQ country

Spain

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Platform operating revenue (fire protection services): Grupo Fire generates revenue through installation and recurring maintenance of fire protection systems (extinguishers, detection, hydrants, suppression) across Spain. The vast majority of revenue is recurring maintenance on regulated services contracts; €32.3m reported in 2024 with a target of €35m for the current year and €100m by 2028.
2. Agri-food equipment sales & distribution: Grupo Comavic generates revenue through import, distribution, and installation of poultry farm machinery across Spain; recurring and project-based revenue from farm set-ups (breeding and laying hen facilities).
3. Private equity capital gains & exits: IBV pursues 2.5x–5x equity returns at exit through the consolidation of fragmented SME platforms; capital is raised from a German family office and Madaus Capital Partners, with exits typically aimed at pan-European PE funds.

Pricing tiers

Go-to-market motion1 record

Core offering

IBV is a Spanish private equity firm that consolidates fragmented essential services SMEs into institutional-grade Buy-and-Build platforms. Its flagship platform Grupo Fire consolidates Spain's active fire protection installation and maintenance market (extinguishers, detection, hydrants, suppression), while Grupo Comavic consolidates the agri-food poultry farm machinery sector. Across both, IBV deploys proprietary AI tools (Titan, Heat, IBV AI Labs) and structured 30/60/100-day integration playbooks from day one of acquisition to drive automation, pricing optimization, retention, and operating leverage.

Product overview

IBV Group operates a platform-plus-modules architecture composed of sector-specific Buy-and-Build platforms (currently Grupo Fire for fire safety and Grupo Comavic for agri-food machinery), populated by acquired local SMEs that are unified under common operational, technological, and brand infrastructure. The core platform offering is anchored by Grupo Fire (the flagship platform, launched 2023 with 30+ integrated SMEs) and Grupo Comavic (agri-food machinery), with proprietary AI/tech tools Titan and Heat (developed by IBV AI Labs) deployed across all portfolio companies from day one to automate back-office functions, optimize routing and pricing, and drive margin expansion. Beyond the named operating platforms, IBV is actively developing additional verticals in essential & regulated services (HVAC, plumbing, electrical compliance inspections) and back-office intensive services (accounting, tax, legal, claims processing), all leveraging the same AI-driven integration playbook.

Differentiator

Problem solved

Functional benefit

Brands

• Grupo Fire: IBV's flagship Buy-and-Build platform consolidating Spain's fragmented fire protection installation and maintenance market under a single middle-market platform.
• Grupo Comavic

Products and services

• Grupo Fire IBV's flagship Buy-and-Build platform consolidating Spain's fragmented active fire protection industry under a single middle-market entity. Integrates 30+ local SMEs delivering installation and maintenance of extinguishers, detection/alarm systems, hydrants, and water-based fire protection solutions across Catalonia, Madrid, Valencia, Aragon, Castile and León, Andalusia, and the Balearic Islands. Recurring maintenance constitutes the vast majority of platform revenue; reported €32.3M revenue and €8M EBITDA in FY2024 with a €35M revenue target in 2025 and €100M by 2028.
• Grupo Comavic IBV's agri-food vertical platform focused on the import and distribution of poultry farm machinery and the setup of poultry farms across Spain. Anchored by Comavic (Reus) — a 50+ year-old benchmark importer and distributor of poultry farm machinery — and complemented by Maker Farms (Olot) for breeding and laying hen facilities. Generates recurring and project-based revenue from farm set-ups.

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature4 records

Recent moves2 records

Expansion highlights6 records

Broad incumbents

• Indutrade AB: Swedish serial acquirer of ~200 niche industrial SMEs across Benelux, DACH, and Iberia. Highly comparable decentralized buy-and-build model with decentralized profit responsibility and multiple platform verticals.
• Lifco AB: Swedish-listed serial acquirer of ~160 niche SMEs in industrial and infrastructure services. Long-hold, decentralized operating model — a benchmark for European SME consolidation that IBV explicitly mirrors in its structure.
• API Group: US-listed safety, specialty, and industrial services consolidator with a major fire-protection services segment. Provides direct competitive reference for Grupo Fire's end markets and is a likely strategic acquirer at scale.
• Cinven: London-based pan-European mid-market PE firm with a strong services consolidation track record. Represents the type of larger pan-European PE buyer IBV explicitly targets as an exit partner for mature platforms.
• Constellation Software: Canadian-listed perpetual-acquirer of vertical-market software and services SMEs. While software-focused, its 'buy small, hold forever, decentralize' playbook is the conceptual template for IBV's platform-plus-modules architecture.
• Roper Technologies: US-listed compounder that acquires niche, capital-light service and software businesses at high margins. Comparable in capital-allocation discipline and hold-forever philosophy applied to small asset bases.
• IMCD N.V. Dutch-listed specialty chemicals and food ingredients distributor built via systematic acquisition-led consolidation. Demonstrates the multi-platform compounding playbook that IBV is attempting to replicate in regulated services.

Others

• ServiceTitan: US-based field-service management SaaS platform serving fire-protection, HVAC, plumbing, and electrical trades. Functionally adjacent as the external software product category IBV's 'Titan' internal tool emulates, and a potential partner or exit-relevant competitor.

Direct peers

• Sagard Holdings: Montreal/Paris-based PE platform with a services consolidation thesis and proprietary operating capabilities. Operates a multi-platform model comparable to IBV's Grupo Fire / Grupo Comavic structure and shares the same pan-European ambition.
• Shore Capital Group: UK-listed specialist in consolidating fragmented UK SMEs via disciplined buy-and-build. Explicitly referenced by IBV ('Shore Capital of Spain'); uses a similar roll-up playbook on essential/regulated services with an AI-enabled operational layer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ibvgroup

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about IBV GROUP LTD