Crest Capital Partners buys 70% of Portugal's Flosel, eyeing €31M revenue base
What's the deal? Crest Capital PartnersDealroom has a profile for this one. Try Dealroom → has acquired a 70% stake in Flosel GroupDealroom has a profile for this one. Try Dealroom →, a Portuguese specialist in electrical, mechanical, and hydraulic installations for buildings. GBS FinanceDealroom has a profile for this one. Try Dealroom → advised Crest on the transaction, announced in September 2026. Terms were not disclosed.
What's Flosel? Founded in 1980 and based in Braga, the group employs around 300 people across three companies: Flosel Portugal, covering electrical, communications, mechanical, and hydraulic systems; KW – Instalações Mecânicas, focused on HVAC and renewables; and Flosel Francia, serving the French market with an HVAC focus.
The numbers: Flosel reached roughly €31 million in revenue and €5 million in EBITDA in 2025, giving Crest a majority position in a business with more than 40 years of operating history.
What's the endgame? With Crest's backing, Flosel plans to accelerate growth through acquisitions in Portugal. The group has already identified targets, positioning the deal as a platform for consolidation rather than a standalone bet.
The signal: Private capital is increasingly targeting building-services firms, where fragmented markets and steady demand for HVAC, electrical, and renewables work create room for buy-and-build strategies. Crest's stake in a profitable, mid-sized operator fits that pattern.
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