Nazca invests in Coycama and Becrisa, creating a national leader in the bathroom industry

• Coycama and Becrisa are two companies in the bathroom industry with a strong positioning in different segments (furniture, washbasins, shower trays, shower enclosures and sanitary ware). Their integration means the creation of a reference group in the sector.
• Nazca’s entry, with previous experience in the sector, aims to promote an ambitious growth plan that combines the expansion of production capacity, international expansion and integration into a single group.
• The project will continue with the involvement of the Alemany family and Emilio Santis as shareholders and managers, reinforcing the team with new appointments.

Madrid, March 24, 2025. Nazca Capital, a leading firm in private equity investment in unlisted Spanish SMEs, has acquired, through its Nazca Small Cap II fund, a majority stake in the group formed after the integration of Coycama and Becrisa and other companies.

Coycama and Becrisa have a successful track record in the bathroom sector with a value proposition based on offering quality products at competitive prices and first class service levels thanks to its significant manufacturing and logistics capacity, with 5 production facilities.

The deal involves the integration of a total of 4 companies, creating a leading group in the Spanish bathroom sector, with a presence in bathroom furniture (2 factories), Solid Surface washbasins, shower trays, shower enclosures, sanitary ware and faucets. The combined group has sales of over €40 million and an EBITDA of over €5 million euros. It is a group with an international presence, exporting around 30% of its sales to more than 20 countries.

The current partners of both companies, with more than 30 years of experience in this sector, will continue to be involved in the project.

Nazca already has experience in the sector after its successful investment in McBath. His incorporation to the company will allow the group to focus on growth in terms of production capacity, with the new factory opening in Vinaroz and the expansion of the Ulldecona and Onda facilities, as well as to accelerate the commercial development at international level. To this, the team will be reinforced with the appointment of managers with significant previous experience in the ceramic and/or bathroom sectors. And possible opportunities to acquire other complementary companies, either by customers or by product, will be analyzed.

This is the second investment of the Nazca Small Cap II fund, which is in its final fund raising stage, with the goal of reaching the hard cap target of €220 million.

According to the Alemany brothers and Emilio Santis, shareholders of the Group: “We are confident that Nazca is the right partner to lead this new phase and build a unique group in our sector. Their expertise in the industry, experience in company integration, and national and international growth plans will be invaluable in driving the creation and development of this group.”

Celia Pérez-Beato and Ramón Garnica, partners at Nazca, have commented that: “This investment aligns perfectly with our strategy, combining ambitious growth with the creation of a unique, high-value group. We are highly excited about this project and confident that our expertise in the sector, along with our experience in developing industrial plans and accelerating international expansion, will enable us to generate significant value.”

Apliqa, EY, KPMG and Uría Menéndez have advised Nazca in this deal, while Broseta and Jorge Aguilella have advised Coycama and Becrisa.