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M&A

SPECIALACQUE AND SPECIALSPURGHI

Acquired by

ITELYUM

ITALY Utilities (Regulated Infrastructure) / Waste Management REV 1m EUR - 100m EUR 03/2025

Target

SPECIALACQUE AND SPECIALSPURGHI

Acquirer

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 LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN.

Note that 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.

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

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Equity Value

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Multiples Analysis

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

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2023
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2022
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Other operations with SPECIALACQUE AND SPECIALSPURGHI

REFERENCES

Authors: mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: itelyum