We acquire profitable small and medium-sized businesses and hold them with no exit deadline. For founders, a trusted home for their life's work; for management teams, a committed partner for the next stage of growth.
Tormes Capital is an investment firm backed by family capital. We answer to no fund calendar and no external mandate: we buy businesses to own them, improve them and let them compound over decades.
Our focus is established small and medium-sized companies — businesses with proven profitability, loyal customers and room to keep growing. We bring rigorous analysis, prudent leverage and a close, respectful relationship with the people who run them.
We measure success in years of steady progress, not in exit multiples. Consistency, discretion and keeping our word are the foundations of how we invest.
We keep our criteria simple and apply them with discipline. If your company fits most of these, we would like to meet you.
Cash-generative businesses with a consistent track record across cycles — not turnarounds or venture bets.
Leaders in a defined niche, protected by reputation, relationships, know-how or scale.
The lower and mid market is our natural ground. We stay flexible on size when the business is right.
Founders and business families seeking continuity for their company, their people and their name.
We back the managers already running the business and reinforce them where needed — people decide outcomes.
Sector-agnostic, with a preference for straightforward business models serving durable needs.
We do not buy to resell. Every company we own is run on five working principles.
Capital and judgement to expand steadily, without compromising the strength of the balance sheet.
We refine processes, costs and structure so each business performs to its full potential.
We apply digital tools and artificial intelligence to improve processes, automate routine work and sharpen decision-making — efficiency gains that compound year after year.
Talent, aligned incentives and real autonomy — with clear accountability in return.
Environmental, social and governance criteria woven into every decision we take as owners.
A strong balance sheet, sensible debt and reinvested profits — resilience first, so the business keeps compounding through any cycle.
If you are considering selling your company or bringing in a partner, talk to us. We offer a discreet and agile process, a fair valuation, and above all a genuine continuity project for your team, your clients and your legacy.
A typical process takes three to six months from first conversation to closing.
| Tormes Capital | Private equity | Strategic buyer | |
|---|---|---|---|
| Holding period | Indefinite — we buy to stay | Three to five years, then resold | Permanent, but absorbed |
| Your team | Stays, and is reinforced | Often restructured | Often redundant after integration |
| Brand and legacy | Preserved and built upon | Secondary to the exit | Usually disappears |
| Day-to-day management | Your managers continue; we support from the board | New layers and tight reporting | Folded into the buyer's structure |
| The process | Discreet, direct and agile | Competitive auctions, months of diligence | Slow, with many stakeholders |
They stay. The team is one of the main reasons we buy a business, and continuity of employment is part of how we structure every acquisition. Where the team needs reinforcement, we add to it — we do not arrive with our own management to replace yours.
No. We adapt the transition to you: some owners hand over in a few months, others stay involved for years or keep a minority stake. What matters to us is an orderly handover, at your pace.
On its fundamentals: sustainable earnings, the quality of the team and the business's position in its market. We make one serious, fair offer in writing rather than opening high and negotiating down.
Completely. We sign a confidentiality agreement before receiving any information, we do not run broad processes, and your employees, clients and competitors will not hear about the conversation from us.
Established, profitable small and medium-sized companies. We are most at home in the lower and mid market, and we stay flexible on size when the business is right.
With our own family capital, complemented where sensible by prudent bank financing. We do not depend on raising external funds to close, which keeps the process fast and certain.
In selected transactions we open the door for a small group of partners to invest at our side. We lead every deal — sourcing, structuring and managing it — while always committing a meaningful share of our own capital.
That commitment is the best guarantee of alignment: we win and take risk together with our partners, with transparent reporting and honest communication from day one.
A network built over years gives us access to off-market situations before they reach competitive processes.
The team has led acquisitions, integrations and restructurings across market cycles, in Spain and internationally.
We are not passive investors: we sit on boards, help set strategy and support its execution day to day.
Tell us about your company, your situation or your project. We personally reply to every message.