ProA-backed Ambuibérica bolts on Ambulancias Reus

Susannah Birkwood
20 October 2011

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Grupo Ambuibérica, a company owned by Spanish private equity firm ProA Capital, has acquired fellow ambulance business Ambulancias Reus.

The acquisition is designed to allow Ambuibérica to expand into Catalonia, increase its fleet of vehicles to 700, boost its revenues from €48m to €70m and extend its workforce from 1,300 to more than 2,000. Reus will give the group an extra 125 ambulances, an additional €20m in sales and 400 new workers.

Ambuibérica plans to continue expanding throughout Spain, and particularly in Andalusia, where it does not yet have a presence, and Castilla-La Mancha.

ProA purchased an 85% stake in the company as part of an all-equity deal in March. It said at the time that the highly fragmented nature of the Spanish healthcare transport market formed an important basis for the acquisition. It now aims to consolidate Ambuibérica within the local market and improve its leadership position, partly through securing new contracts.

The Valladolid-based company is one of the only ambulance operators to have a multi-regional presence in Spain. It was founded in 2000 has an EBITDA of around €5.5m.