GasN2 strengthens its shareholding with the entry of Miura Partners to accelerate its national and international business expansion.
Founded in 2009 and headquartered in Barcelona (Spain), GasN2 designs, develops and commercializes energy-efficient industrial equipment for a wide variety of industrial applications and market segments, such as food, pharma and healthcare.
The company offers on-site industrial gas generation and mixing equipment that is more efficient, saving more energy consumption than current alternatives. In addition, it develops industrial refrigeration and drying devices using cleaner gases, as well as CO2 capturers which are further reused in water treatment, among other solutions.
Thanks to its positioning, GasN2 has grown 25% annually over the last years and expects to reach a turnover of €10 million in 2023. The founders of GasN2, with Oriol Martínez-Huguet as CEO, will keep a majority stake and continue to lead the project.
GasN2 is Miura Impact Fund’s third transaction following the investments in Tierra and Wikiloc. The fund was launched in 2022 with a target size of €150 million, aimed at high-growth SMEs with environmental and social impact business models.
GasN2, pioneering industrial sustainability
Spain, in line with other developed economies, has an industrial sector responsible for 24% of total energy consumption and 16% of CO2 emissions in the country, according to data from the International Energy Agency (IEA).
The United Nations, in its Climate Action Plan 2020-2030, has set targets to reduce electricity consumption and carbon emissions by 2030 (-35% and -45% per capita respectively) and to achieve carbon neutrality by 2050.
GasN2’s activity contributes directly to meeting the targets set and to the sustainability of the industry in general.
Oriol Martínez-Huguet, Founder & CEO of GasN2:
“GasN2 has been looking for an investment partner to drive the company’s growth while maintaining the essence of the company: prioritizing innovation in environmental and sustainable technologies while being close to our clients and team.”
Gustavo Barroeta, partner at Miura Partners:
“GasN2 is the kind of company we are excited to support from our Impact Fund, with a clear vision, a scalable business model oriented towards sustainability and great growth potential. Together with Oriol, Pau, Bernat and the rest of the team, we will drive the growth plan while preserving the company’s core values.”
Miura Partners was advised by KPMG, Roland Berger and CMS Albiñana & Suárez de Lezo, while GasN2 has been advised by AVQ Legal and Atlantis SC.
About GasN2
Founded in 2009 and headquartered in Barcelona (Spain), GasN2 innovates, develops, manufactures and commercializes energy-efficient industrial equipment for a wide variety of industrial applications on a rental basis. Since its foundation, the company has installed and maintains more than 400 industrial equipment in Spain, Italy and France.
About Miura Partners
Miura Partners is a purpose-driven Private Equity firm. With offices in Barcelona and Madrid, the firm specializes in investing in small and medium-sized family-owned and entrepreneurial companies. Miura provides attractive growth and innovation plans with a clear focus on sustainability, under its three investment strategies: Buy-outs, Impact, and Agribusiness.
Since 2008, Miura has invested in more than 60 companies, for a total value in excess of €3.0 billion. Currently, the firm has €1.2 billion Assets under Management.
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