Diana Capital, a Spanish private equity firm specializing in middle-market investments, announces its investment in Revestech, an Alicante-based company specializing in advanced waterproofing systems, ranging from sustainable synthetic membranes to complete solutions for roofs, terraces, bathrooms, and showers.
The investment will allow Diana Capital to acquire a minority stake in Revestech to drive its international expansion. The new resources will be used to accelerate operational improvements, execute selective acquisitions of complementary companies, and open new subsidiaries in strategic markets, supporting a highly committed management team led by members of the founding family.
Founded in Alicante in 2006, Revestech specializes in advanced waterproofing solutions, including high-performance synthetic membranes, complete systems for roofs, terraces, and wet areas, as well as quick-installation shower kits. The group expects to close 2025 with €15 million in revenue and an EBITDA exceeding €4 million. Revestech operates from a 5,000 m² facility equipped with proprietary extrusion technology and state-of-the-art machinery. With nearly 70 employees, the company has built a strong brand reputation among construction professionals and technical specifiers. Around 30% of its production is already exported, with a strong presence in Europe and growing expansion in the Americas and Asia.
The waterproofing sector is experiencing significant growth, driven by the renovation of European real estate, the demand for more efficient solutions in response to climate change, and increasing sustainable construction regulations. Globally, the demand for advanced systems—particularly high-performance synthetic membranes—continues to grow, supported by urbanization, energy-efficient renovations, and the rise of extreme weather events.
Miguel Martínez, President of Revestech, welcomes Diana Capital to this new stage of growth. “We are very pleased to have found a long-term investment partner like Diana Capital, with an ambitious growth plan to take our company to a new phase of development and internationalization, and with the addition of Francisco Gómez-Zubeldia and Alejandro Mejias to the Board,” he said.
Francisco Gómez-Zubeldia, Vice President and CEO of Diana Capital, adds: “Supported by the key pillars of our investments—a strong shareholder base and management team—Revestech is a company with great growth and value creation potential thanks to its extensive production capacity, operational improvement opportunities, international expansion, selective acquisitions (M&A), and professionalization.”
In the transaction, financial due diligence was carried out by EY, while Garrigues handled legal, tax, and labor due diligence. Bankinter acted as advisor to the company.
Since its founding in 2000, Diana Capital has invested over €400 million, supporting Spanish middle-market companies in their international growth. Among its notable exits are Gransolar, sold to Trilantic; Burger King, sold to Restaurant Brands Iberia, owner of the Burger King franchise rights in Spain and Portugal; the lighting company Indal, now part of the Philips Group; Guascor, acquired by Siemens; and Recyde, acquired by Cie Automotive. With Grupo Lappí, Diana Capital is consolidating its leadership in the labeling sector, positioning the group as the leading company in the Iberian Peninsula and the 14th in Europe through recent acquisitions such as the full purchase of CPM-PENTA Group.
About Diana Capital
Diana Capital is a pioneering private equity firm in Spain with extensive experience in managing private equity funds. Founded in 2000 by Francisco Gómez-Zubeldia, the firm acts as a committed partner, actively supporting companies and their management teams in national and international expansion, helping to create value in the companies it invests in. The firm has a highly qualified team with extensive private equity experience. Diana Capital has launched three private equity vehicles and invested in 30 companies directly and in 13 companies indirectly, acquiring a total of 17 companies across multiple sectors, including industrial and services (energy, steel, consumer goods, automotive supply, audiovisual, lighting, food service, and textile fashion). The executive team is supported by a Board of Directors with extensive operational and financial experience.
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