OUR MODEL
Transforming Fragmented Industries into High-Growth Platforms
We target Recurrent-revenue Cashflow-oriented companies in Regulated Services Industries. Transforming SMEs into Institutional-grade Middle Market Platforms
Our First Approach: Spain
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Spain is one of the largest service economies in Europe, but it remains highly fragmented. Most companies are founder-led and local, limiting their ability to scale. For IBV, this creates a structural opportunity to build institutional-grade platforms that deliver professional service to customers and generate high returns for investors.
We are very disciplined in terms of business model and every company we acquire must meet three simple characteristics:
- Regulated maintenance services
- Recurrent revenues and high-cashflow generation
- Potential to increase margins by benefiting from local density
Potential growth in the rest of the EU
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Europe’s business services market offers a significant runway for growth due to its highly fragmented landscape and cross-border demand. As EU regulations increasingly converge, operators benefit from a harmonized environment that enables scalable expansion. Entry valuations remain attractive in Southern Europe, creating compelling value-creation opportunities. The platforms that we create attract strong interest from pan-European private equity funds, enhancing exit prospects.
Why Spain?
- Services contribute to ~65% of Spain’s GDP
- Market largely composed of SMEs with local scope
- Significant potential to create national leaders through consolidation
First Steps
Our process starts by identifying local champions with strong client bases and +50% of recurring revenue. Once acquired, we apply structured playbooks and embed Tech/ AI immediately, ensuring that companies are integrated into a scalable platform.
- 1 Disciplined acquisitions at conservative multiples
- 2 30/60/100-day integration playbooks to capture synergies
- 3 Proprietary AI and digital infrastructure deployed on day one
- 4 Hire a platform management team (Ops and Finance) and deploy IBV M&A and Value Creation team to support in creating the platform.
The Businesses We Target
IBV focuses on service platforms where consolidation and technology can unlock disproportionate value. Our dual approach allows us to balance resilience with efficiency gains while addressing markets with strong long-term fundamentals.
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Talent Engine &
Leadership Deployment
We drive long-term value by building a proprietary bench of CEOs, CFOs, and COOs trained in our toolkit. We deploy this leadership from Day 1, ensuring immediate alignment and operational excellence.
At IBV, our methodology is defined by a clear and proven operating model. designed to capture local synergies, protect cashflows, and build operating leverage.
Operational
Playbooks
We apply structured 30/60/100-day playbooks from day one. These frameworks set clear priorities for integration, ensuring that synergies are captured quickly and efficiently.
Margin
Expansion
We drive margin improvement through route densification, back-office automation, data-driven commercial and operational levers. We go beyond best practices and playbooks by building technology products (e.g., automation, data platforms) that replicate the learnings from one service platform to another.
Continuous
improvement
We invest in talent, processes and technology to drive a culture of continuous improvement and target better technician productivity and operational efficiency in areas such as logistics and scheduling. Every improvement compound to create growth and sustainable cashflows.