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02/2026

PENINSULA CAPITAL takes majority stake in EUROPEAN QUALITY ASSURANCE

SPAIN Industrial Services / TIC (Testing, Inspection, Certification) REV 1m EUR - 100m EUR

Context

Peninsula Capital has acquired a majority stake in EQA (European Quality Assurance), a leading player in Spain's certification, inspection, and verification services sector. The transaction takes place in a market characterized by significant fragmentation and favorable structural trends, driven by increasing regulatory requirements, growing ESG considerations, and the digitalization of compliance processes. Against this backdrop, Peninsula Capital is targeting robust platforms that can serve as a foundation for European-wide consolidation strategies. EQA fits perfectly into this approach, with an established market position and a substantial operational footprint in its domestic market. Building on this foundation, the fund plans to leverage EQA to accelerate consolidation in the Spanish certification and inspection market, while also structuring a broader growth trajectory across Europe. As part of this strategy, the development plan includes a phased expansion into key markets such as Italy and France, where the sector remains largely fragmented. Ultimately, the transaction is based on a value-creation logic combining organic growth and a buy-and-build strategy, with the goal of supporting the management team in a new phase of development and capitalizing on the sector's long-term structural trends.

EUROPEAN QUALITY ASSURANCE, which reported an EBITDA margin of in 2026, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Business Services sector (11.4x).

-> Deep-dive in Business Services market trends

Target

EQA (European Quality Assurance) is a global certification, verification, and inspection body with recognized expertise in compliance, management systems, and ESG standards. Founded in the UK in 1993 and established in Spain since 1997, the company has established itself as a leading player in independent quality and regulatory compliance assurance. EQA offers a broad range of services, including certification of R&D and innovation projects, quality management systems, regulatory compliance (including DNSH), climate change, corporate social responsibility (CSR), ESG compliance, sustainable finance, and information security. The company also plays a collaborative role in several Spanish regions, notably in Madrid, Galicia, and the Valencia region. EQA's activities are based on conducting independent audits and verifications to ensure the reliability of information and organizations' compliance with international standards. With a team of over 300 professionals and a portfolio of more than 20 official accreditations, including those awarded by ENAC, EQA performs over 11,000 audits annually for more than 10,000 clients.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2026
2025

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REFERENCES

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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: european quality assurance

Acquirer: peninsula capital