Specialacque and Specialspurghi acquired by Itelyum
Context
The acquisition of Specialacque and Specialspurghi is strategically aligned with the Itelyum's ongoing M&A program, which focuses on consolidating regional market leaders to strengthen its national service network and technological capabilities in waste treatment. By integrating the Brescia-based cluster, Itelyum expands its industrial wastewater treatment footprint and enhances its regional logistics and remediation services in Northern Italy. The acquisition allows the group to benefit from specialized, high-capacity hazardous waste treatment infrastructure, further reinforcing its competitive advantage in the complex waste management segment. The rationale centers on deepening vertical integration within the circular economy ecosystem, as the target’s operational expertise in fluid waste management and chemical analysis directly complements Itelyum’s existing regeneration and purification business units.
Specialacque and Specialspurghi, which reported an EBITDA margin of [members only] in 2023, is valued in this transaction at an EV/EBITDA multiple of [members only].
Target
Specialacque and Specialspurghi constitutes a comprehensive environmental services cluster based in the Brescia region of Northern Italy. Specialacque operates as a specialized entity for the treatment of industrial wastewater, leveraging advanced chemical-physical treatment, biological processing, and the management of synthetic or oily emulsions. The facility holds an authorized treatment capacity of 105,000 tons per year, handling both hazardous and non-hazardous waste. The group’s service offering is vertically integrated, supported by J-Wam, which focuses on waste storage, brokerage, and environmental consultancy, and W-Jam Lab, which provides essential analytical services for solid and liquid waste characterization. Complementing this, Specialspurghi brings extensive operational capabilities in environmental remediation and industrial cleaning, supported by a specialized fleet of vehicles. This group serves as a strategic regional hub for industrial waste liquid management, providing vital circular economy support to the manufacturing base in Lombardy.
Ent. Value
[members only]
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with Itelyum
Similar deals in Utilities (Regulated Infrastructure)
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2025 | CAPZA | DI ENVIRONNEMENT | FRANCE | Hazardous Waste |
| 06/2025 | SECHE ENVIRONNEMENT | GROUPE FLAMME | FRANCE | Waste Management |
| 03/2025 | LATOUR CAPITAL | SULO | FRANCE | Collection & Recycling |
| 02/2025 | IRETI | IREN ACQUA | ITALY | Water |
| 01/2025 | APOLLO GLOBAL MANAGEMENT / BC PARTNERS | GFL ENVIRONMENTAL SERVICES BUSINESS | CANADA | Hazardous Waste |
| 06/2024 | SECHE ENVIRONNEMENT | ECO CORPORATE ENVIRONMENTAL ENGINEERING (ECO) | SINGAPORE | Hazardous Waste |
| 06/2024 | VEOLIA | ENVIROPACIFIC | AUSTRALIA | Hazardous Waste |
| 11/2023 | PIONEER POINT PARTNERS | ESKEN RENEWABLES | UNITED KINGDOM | Waste-to-Energy |
| 09/2023 | EURAZEO | 2B SERVICES & INNOVATIONS | FRANCE | Waste Management |
| 09/2023 | TPG | A-GAS | UNITED KINGDOM | Hazardous Waste |
REFERENCES
Revenue range: REV €5–25M
EBITDA range: €0–5M
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Specialacque and Specialspurghi by Itelyum are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: itelyum
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