Nextclima — Buyout

This was a search-fund acquisition, not a venture round. Marc Giné's vehicle Terra Firma Capital bought the Catalan HVAC installers Airnou and Termotur to form Grup Nextclima, and the purchase was financed by his group of search-fund investors. Search Funds News puts the deal at about €10M, but that figure is the acquisition price, not the equity raised. The group has combined revenue above €10M and about 70 staff, and it plans more add-on acquisitions. Coverage dates the deal to October 2025 (week 41); I found no exact day.

Lead unknown RoundBuyout AnnouncedOct 2025Not counted in totals CityGranollers SectorHVAC / Climate servicesSource C

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