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After several years analyzing and investing in private companies from the other side of the table, finance professional Juan José Olleros has decided to take the next step and find and lead a company himself. He has launched Encina Investment with the support of investors such as Ambit Partners, Cabiedes Capital, Istria Capital, JB46, and Innesto Partners, among others.
Juan José has a solid background in private equity, corporate finance, and corporate governance. He began his professional career at Mutua Madrileña, where he worked in back-office operations and customer service, before joining mortgage brokerage fintech Hipoo in its sales team. He then moved to Fotowatio Renewable Ventures, where he worked in internal audit, gaining experience in financial analysis and corporate assurance within an international renewable energy group. In 2021, he joined AltamarCAM Partners, where he spent more than three years working in Funds Finance & Operations, analyzing and valuing portfolios comprising more than 300 private companies and gaining exposure to fund managers and international investors. During his MBA at IESE Business School, he also joined Renta 4 Sigrun’s investment banking division, where he gained hands-on M&A experience working on transactions involving Spanish founder-led SMEs, before deciding to launch a search fund.
Encina Investment is looking to acquire a majority stake in a well-established Spanish B2B company with a proven business model, a strong track record of profitability, and clear potential for further growth. The target company should have at least three years of sustained profitability, an EBITDA margin above 15%, and annual EBITDA of €1–5M. Juan José is particularly interested in businesses with recurring or contractual revenues, low cyclicality, limited structural capex, and a diversified customer base, as well as companies supported by a solid middle-management team. He is especially attracted to fragmented markets offering opportunities for operational improvement, geographic expansion, or organic and inorganic growth, and where an owner is seeking continuity, a generational transition, or a committed successor to lead the company into its next stage.
