Studibo, a European group specialising in multidisciplinary engineering, certification and inspection solutions for sustainable buildings and environments, has acquired Valladares Ingeniería, a Madrid-based company specialising in comprehensive building engineering. Baker Tilly Tech M&A has advised Studibo and its investor, IceLake, throughout the transaction.
The appointment of Valladares marks a significant step in Studibo’s international expansion and helps to establish the group’s presence in Spain, which becomes its seventh European market.
The transaction matches the The transaction coincides with the acquisition of INGHO Ingeniería y Facility Management by Studibo. With the simultaneous acquisition of both companies, the group is establishing a solid foothold in the Spanish market, bringing together complementary capabilities and teams with a strong local presence.
Valladares brings to Studibo a team of around 180 professionals and extensive experience in structural engineering, MEP (mechanical, electrical and plumbing) installations, sustainability and certification. This combination expands the group’s multidisciplinary capabilities and strengthens its offering for building projects in Spain.
For Valladares, joining Studibo means becoming part of a European platform specialising in engineering and technical services for the construction sector, whilst retaining the expertise and specialisation developed over more than 25 years in the Spanish market.
Target: Valladares Ingeniería
Founded in Madrid in 1999, Valladares Ingeniería is a company specialising in comprehensive engineering services for the construction sector.
Over more than 25 years, the company has developed a model based on technical specialisation and the coordination of multidisciplinary teams. It currently employs around 180 professionals and operates throughout Spain.
Valladares provides services across various stages of construction projects and specialises in structural design, building services and telecommunications, sustainability, energy certification, BIM, civil engineering, acoustic engineering, fire protection, inspection and commissioning. Its work encompasses projects for offices, hotels, healthcare facilities, care homes, residential properties and innovative housing developments, shopping centres, sports facilities, logistics hubs, landmark buildings and civil engineering works.
Technological innovation, digitalisation and sustainability form part of its value proposition. Among other areas, the company works with Building Information Modelling (BIM) methodologies and with standards and certifications relating to the sustainability and efficiency of buildings, such as BREEAM, LEED, WELL and Passive House.
Based in Madrid, Valladares has an international track record and has worked for more than 500 clients across four continents.
Investors: Studibo and IceLake
Studibo is a European group specialising in multidisciplinary solutions for sustainable buildings and environments. Its activities are primarily structured around three main areas: certification and inspection, engineering, and environmental and sustainability services.
Within the engineering sector, the group brings together specialist expertise in areas such as structural engineering, acoustics, fire protection and BIM. Its model combines the specialisation and local presence of regional teams with the capabilities, knowledge and economies of scale of an international group.
With the addition of Valladares and INGHO, Studibo is entering the Spanish market, which becomes its seventh market after Belgium, Luxembourg, the Netherlands, Denmark, Germany and France.
The integration of Valladares particularly strengthens the group’s capabilities in structural engineering, MEP installations, sustainability and certification, whilst providing Studibo with a platform that has a well-established presence in the Spanish market.
Since February 2025, Studibo has been part of the portfolio of investee companies of IceLake, a private equity firm that invests in companies with strong positions in their respective markets and growth opportunities.
IceLake works alongside the management teams of its portfolio companies to develop strategies for organic growth, international expansion and 'buy & build'Studibo’s expansion in Spain forms part of this strategy for international growth and the consolidation of specialist companies.
The importance of having an M&A expert for a transaction
Transactions such as those involving Studibo and IceLake highlight the complexity of coordinating due diligence, negotiations and closing across different jurisdictions and management teams. Having an M&A specialist on board enables companies to anticipate risks, structure the transaction efficiently and protect the company’s value throughout the process. Baker Tilly has advised Studibo and IceLake on the negotiations for the acquisition of Valladares Ingeniería. Diego Gutiérrez, a partner specialising in the sector, led the team.
Baker Tilly has a specialist Tech M&A Advisory division and has consistently ranked amongst the top three in the mid- and small-cap technology market in Iberia.
Baker Tilly International’s corporate finance services include advising on cross-border transactions for clients operating in different markets. The Baker Tilly network spans more than 145 territories, with over 50,000 professionals working in more than 750 offices. Baker Tilly International is an international network of professional services specialising in advisory, consultancy, audit, tax, legal, accounting, employment and management services for SMEs and multinational companies.
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