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At the end of 2022, José Luis Soria Ibáñez and Carlos Gómez de Iturriaga founded Pleamar Partners with the backing of 14 mostly Spanish investors. In less than two years, they successfully found the industrial company they had been seeking in Spain. Supported by a dozen investors, including Arada Capital Partners, Atiud, and Beka Alpha Search Funds, among others, Pleamar acquired Adinor, a manufacturer with 25 years of experience, during the summer. Debt financing was facilitated by Santander.
Founded in 1986 in Valladolid, where it maintains its headquarters and manufacturing facilities, Adinor is a leading company specializing in the design, manufacturing, and commercialization of innovative products for the furniture, hardware, and DIY sectors. With a strong focus on the metallurgical industry, Adinor is renowned for its quality, efficiency, and commitment to operational excellence. The company excels in producing high-quality metal joinery, primarily using aluminum, with designs prominently featured in closets, sliding and folding doors, modular systems, wardrobes, hanging doors, and other applications. Adinor’s diverse product catalog offers functional solutions for commercial spaces, offices, and homes, constantly evolving to meet market demands.
The company has experienced significant growth in recent years, doubling its revenue to reach approximately €10M with an EBITDA of around 20%. One of the main advantages of the company is that over the past 3 years, 80% of their customers have conducted repeat business. Future growth is expected to come from expanding its business internationally.
Advisor: BDO
