After 4 years of search...

I’m in the final stretch of acquiring a Spanish industrial SME. A manufacturer of kitchen cabinet fronts. Unsexy. Tangible. Profitable. Real. Some facts, no marketing: • ~€13M in revenue • ~€2.4M EBITDA (18–19% margin) • ~90% recurring sales • Highly fragmented customer base (Top 1 ≈ 4%) • Negative net debt • ~75% EBITDA → cash conversion (ex-2020) • Capex already done (€1.7M in 2021) • Operating on one shift, with room to grow This company has been paying ~€700k in dividends every year for the last 4 years while keeping a net cash position. That’s not “projected cash generation”. That’s real cash, already generated and distributed. The deal is structured at ~5x EBITDA for the operating business, including €1.5M of industrial real estate inside the perimeter. No multiple expansion thesis. No financial engineering magic. Just: ➡️ operations ➡️ discipline ➡️ commercial execution And here’s the interesting part 👇 Beyond the base deal, I’ve already identified two companies in the same sector, currently for sale, 5 and 30 minutes by car from the plant, trading at around 4x EBITDA. Not a promise. Not day one. Just real, local, industrial optionality. This is Entrepreneurship Through Acquisition the unglamorous way: • factories • people • machines • cash • succession No pitch decks with hockey sticks. No “AI-powered disruption”. Just buying something that works — and making it work better. If you’re an industrial operator, family office, or long-term investor who understands this kind of business and likes boring done well, happy to talk. I’m not looking for hype. I’m looking for execution partners. — (Yes, I came from McLaren F1. Yes, I have an Executive MBA from LBS. No, this has nothing to do with startups.) If this resonates, feel free to reach out or make an intro. Let’s build value the hard way. 💥