€2.5M EBITDA Kitchen Components Manufacturer in Spain

🚀 Agripina Capital – Entering Due Diligence for “Project Wood” After two years of searching across the Spanish industrial mid-market, Agripina Capital has entered exclusive due diligence to acquire a leading kitchen components manufacturer in Spain — Project Wood. Background Founded in September 2022 as a traditional Search Fund, Agripina Capital is based in Málaga and led by Víctor Ruz, an industrial designer and engineer with over 20 years of international experience in operations, product design, and industrial transformation. Before launching Agripina, Víctor worked at McLaren F1, where he contributed to the world record for the fastest pit stop, and later led innovation projects for McDonald’s, National Geographic, and the Tour de France. Agripina’s investment thesis focuses on profitable, single-shift manufacturing SMEs where design, efficiency, and digitalization can be applied to create long-term value. The Deal – “Project Wood” Project Wood is Spain’s leading manufacturer of kitchen fronts, operating two owned facilities in Toledo (6,000 m²) with 44 employees and a diversified base of 629 clients. Revenue: €12.6M Adjusted EBITDA: €2.5M (~20%) Net leverage: negative Capacity: ability to double output by adding a second shift Includes: owned real estate assets valued at €1.5M The transaction involves acquiring 100% of the shares at an EV of €14.5M + €1M earn-out (5.8× 2024A EBITDA). Due diligence is being conducted by EY (financial) and Despacho Barrilero (legal, tax & labor), with BBVA advising on M&A. Investment Windows There are currently two open investment windows for interested investors: DDF Capital Call – financing the due diligence (€60k total, 45% already committed, closing imminent). Acquisition Capital Call – final equity for closing, scheduled for December 15, 2025. Why It Matters Strong margins (~20% EBITDA) and steady cash generation Room to double production without CAPEX Clear growth drivers: geographic expansion, product diversification, digitalization Base-case returns: 4.3× MOIC / 36% IRR (LP net 2.9× / 24%) This is a tangible, cash-flow-driven business, not a multiple-speculation story. Next Steps Agripina Capital is looking for aligned, long-term partners for the acquisition and transformation phase. Interested investors may access the Virtual Data Room (VDR) — including the financial model, info memo, and assumptions — upon request and NDA. 📩 Contact: Víctor Ruz Barrero Founder & Managing Partner – Agripina Capital redacted 📞+###-###-####