Marking a significant milestone in its global expansion journey, AGQ Labs has entered into a definitive agreement for Fremman Capital to acquire the stake previously held by Portobello Capital. This secondary buyout facilitates the successful exit of Portobello’s Structured Partnerships Fund while ensuring a continued partnership with the company’s founders, Estanislao Martinez and Coral Zamora. The strategic shift follows a period of rapid consolidation during which the group successfully integrated eight bolt-on acquisitions and doubled its laboratory network. Joining forces with the founders, Fremman aims to leverage its pan-European network to accelerate the next phase of growth, focusing on deepening presence in core international markets and broadening the specialized service offering. The partnership is designed to capitalize on favorable market dynamics, including the increasing trend toward outsourcing technical testing and the globalization of food safety standards. By reinforcing its leadership in the Testing, Inspection, and Certification (TIC) segment, the organization is positioned to deliver enhanced value across highly regulated industries, including life sciences and sustainable mining.

This transaction is part of the Business Services industry, which currently tracks an average EBITDA multiple of 11.1x since the beginning of 2026, 0.5% decrease compared to 2025. This data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.