Vulcain Engineering Group has acquired a majority stake in Incico. The current CEO and key management have reinvested to retain a minority stake and will continue to lead the company. Historical shareholder Giovanni Monini sold his stake but remains as VP of Business Development. Ten other managers also entered the capital structure. This acquisition serves as Vulcain's strategic entry point into the Italian market, with plans to double Incico's Italian revenue to EUR50m within three years.

This transaction is part of the Business Services industry, which currently tracks an average EBITDA multiple of 11.1x since the beginning of 2026, 0.8% increase 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.