Loading...
Nazca sells its stake in IDP, a leading provider of BIM-based engineering services, to Bureau Veritas

Nazca sells its stake in IDP, a leading provider of BIM-based engineering services, to Bureau Veritas

  • With over 25 years of experience, IDP is the leading provider of BIM (Building Information Modeling) based engineering and other digitization services for a wide range of industries.
  • Following a successful project of strong organic and inorganic growth, IDP has tripled in size to reach revenues of €30 million in the last twelve months.
  • Nazca obtains a return on investment of more than three times with this divestment, the third of its Small Cap strategy. Within this strategy, Nazca is at a very advanced stage of raising its second fund, Nazca Small Cap II, with a goal size of €200 million, with which it has already made its first investment.

 

Madrid, 7 October 2024.- NAZCA CAPITAL, a leading private equity firm specialized in unlisted Spanish SMEs, has divested its stake in IDP, with Bureau Veritas becoming the Group’s new majority shareholder. This marks the third divestment from the Nazca Small Cap I Fund (raised in early 2019) and follows a successful growth strategy that has tripled the company’s size since 2020.

IDP is the leading specialist in engineering services utilizing BIM technology and methodology, boasting extensive national and international experience across the energy, industrial, logistics, environmental, and data centre sectors. Its innovative business model enables the application of BIM throughout the entire asset lifecycle—design, construction, and maintenance—leveraging its advantages to enhance design quality while reducing costs and execution times. The company has also developed unique capabilities in digitization to optimize asset performance through the creation of Digital Twins, from construction to operation and maintenance. IDP operates nationwide with 10 offices and a highly skilled team of over 550 employees.

IDP was founded in 1998 and led by its four founding partners until 2020, when Nazca Capital became the majority partner to support the execution of an ambitious growth plan. Over the past four years, the company has tripled its revenues and profitability. This growth has been driven by the organic development of new verticals, including the environmental, logistics, and data center sectors, alongside the acquisitions of Ecointegral Ingeniería and Indutec Ingenieros. These acquisitions have strengthened IDP’s geographical presence in the southern and northwestern regions of the peninsula, as well as its footprint in the food and energy sectors. The integration of these companies’ strengths with IDP’s capabilities has facilitated the development of new business lines and enhanced operational efficiency through the sharing of best practices.

In this new phase, Bureau Veritas, a global leader in testing, inspection, and certification services, will leverage IDP’s platform as a technical hub to enhance its BIM and digital competencies on an international scale.

Enrique Blasco, CEO and Founding Partner of IDP, comments: ‘We are very grateful to Nazca for these four years of working together that have allowed us to achieve the goals we set with its entry into the capital, today the IDP group is three times bigger in size, has a physical presence throughout the country and has a team and management tools to make another leap in scale by joining the Bureau Veritas Group’.

Celia Pérez-Beato, Partner of Nazca, comments: ‘After four years we have successfully achieved, together with Enrique Blasco and the rest of the founding partners, the goal we set ourselves of promoting the organic and inorganic growth of IDP to consolidate its position as a Spanish benchmark in the provision of BIM engineering services with a presence in high added value and growth verticals. The achievement of this goal would not have been possible without the efforts of all the professionals that make up the IDP group’.

The advisors to the transaction on behalf of Nazca and the founders of IDP were: Pérez-Llorca, Socios Financieros and KPMG.  The advisors on the transaction for Bureau Veritas were Deloitte and Uría Menéndez.