Spain’s Grupo Celesa, a producer of professional hardware that owns the brands Blue-Master and Dogher, sold a majority stake to 21 Invest, an European investment firm that Alessandro Benetton founded and is part of 21 Next, an asset manager that belongs to Gruppo Edizione (press release).
The buyer retained Arcano Partners (financial advisor), Chevez (legal), KPMG (financial and ESG due diligence), Roland Berger (commercial analysis), EY (tax), Roca (labor law), and Lesayra (financial documents). Grupo Celesa received assistance from Banco Santander (M&A) and law firm Barrilero Abogados while Tresmares financed the transaction.
Joseba Citores is the ceo of Celesa whose 2025 sales amount to 20 million euros (15% in France and other foreign markets). The company expects a 2026 turnover of 25 million with an ebitda of 8 million and aims to grow further through acquisitions in France, Italy and Northern Europe. Citores reinvested in the company with 21 Invest.
Benetton said: “After this investment, the first in Spain, we are strengthening our presence in Europe and bringing our model for creating industrial and entrepreneurial value to a new strategic market. For us, Spain is a country with a dynamic entrepreneurial landscape and a wealth of opportunities, where we intend to continue developing partnerships with solid and ambitious companies such as Grupo Celesa”.
The initiative reinforces the strategic direction of 21 Next, a vehicle born out of the merger of 21 Invest and Tages under the leadership of the Edizione holding company to establish an alternative asset manager with a pan-European focus with resources of 800 million euros for lower mid-market primary buyouts (see here a previous post by BeBeez) in the healthcare, technology and software sectors, specialised industries and business services (see here a previous post by BeBeez). In February 2026, the platform also launched Tages Infra Plus and set a fundraising target of 500 million euros after Edizione poured 85 million in the vehicle (see here a previous post by BeBeez).
In 2011, Panfilo Tarantelli, Sergio Ascolani, Salvatore Cordaro, and Umberto Quadrino founded Tages which joined 21 Next and rebranded as 21 Tages while keeping its focus on renewable energy, infrastructures and private debt with Tages Credit Fund that in March 2016 completed a 145 million euros fundraising (see here a previous post by BeBeez) after having announces a first closing worth 80 million in December 2023 (see here a previous post by BeBeez).
Edizione owns 55% of 21 Next, Benetton (chairman), Tarantelli (ceo), Quadrino, Ascolani, and other senior managers have 45% (see here a previous post by BeBeez).
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