Atlantic Capital

Industrial private equity · Lisbon, Portugal

We transform Portuguese industry.

Atlantic Capital takes control positions in industrial companies of the Portuguese middle-market and transforms them with an operating playbook of its own, creating lasting value and preparing them for a new cycle of growth with larger-scale partners.

The opportunity

A structural capital gap in the industrial fabric

The Portuguese industrial middle-market is technically strong, export-driven and profitable, yet has little access to growth capital and professional management. Many of its founders are approaching succession.

2,400+Target companiesIndustrial firms with €5–30M revenue and limited access to growth capital
58Average founder age60% without a defined succession plan
6.5×Less PE than BeneluxPE investment 2023: Portugal €2.3bn vs. Benelux €15bn
4.2%Expected industrial CAGR2023–2028, driven by European nearshoring

Indicative figures. Sources: Invest Europe, Eurostat and internal analysis.

The approach

Acquire · Transform · Scale

Our approach →
01

Acquire

Control positions, sourced directly and at disciplined valuations.

02

Transform

A plan agreed with management before closing, then executed alongside them.

03

Scale

Organic growth, bolt-ons and exports, with institutional governance in place.

Mandate

Three verticals, one industrial focus

Investment criteria →
01

Manufacturing & Industrial

Metalworking, components, plastics, tooling and equipment, across the northern and central clusters.

02

Agrofood & Packaging

Food processing and the packaging that serves it, where certification and scale decide the contracts.

03

Defence & Dual-Use

Qualified suppliers that can be positioned into European defence and security programmes.

For founders

Thinking about the next chapter of your company?

Succession, growth or a partial sale. We buy to build: the company keeps its name, its team and its roots, and the founder agrees the transition with us.

Decision discipline

Measured by a Sustainable Balanced Scorecard

Each investment is assessed and followed with our own Sustainable Balanced Scorecard, developed and validated in academic research. Financial return, operations, governance, people and sustainability carry weight together.

Leadership

An operator-led team, with independent oversight

Atlantic Capital is led by former executive board members and CFOs of industrial groups, with independent oversight of every investment decision.

Qualified investors

Let's talk about Atlantic Capital I