Practical guide for business owners, advisors, and intermediaries who wish to present an investment opportunity to Blue Mountain. We explain what we look for, what information we need, and how our evaluation process works.
Every year, we receive dozens of investment proposals. Some arrive directly from business owners; others come through financial advisors, lawyers, investment banks, or intermediaries. Of all proposals received, we analyse a fraction in depth, and we close a limited number of transactions.
This guide is designed to help business owners and their advisors understand what we look for, what information helps us evaluate an opportunity efficiently, and how our process works from first contact to investment decision.
Our investment criteria are straightforward:
Geography. Spain exclusively. We do not invest outside the country.
Company size. Annual revenues between 3 and 50 million euros. EBITDA between 0.5 and 8 million euros.
Sectors. Logistics and transport, hospitality and tourism, circular economy and technology, engineering and industrial services, leisure and entertainment. We are opportunistic in adjacent sectors when the fundamentals are compelling.
Situation. Generational succession, growth capital, professionalisation, sector consolidation, and special situations (distressed assets with viable businesses).
Stake. Flexible — from significant minorities (30%+) to full buyouts (100%). We adapt the structure to the needs of the company and the entrepreneur.
A complete dossier is not necessary for the first conversation. What helps us assess an opportunity quickly is:
A brief description of the company. What it does, where it operates, how long it has existed, and what makes it distinctive.
Basic financials. Revenue, EBITDA, and net debt for the last two to three years. Monthly or quarterly management accounts for the current year.
The reason for the transaction. Why is the owner looking for a partner or buyer? Succession, growth, retirement, financial difficulty?
What the owner is looking for. Full exit, partial sale, growth capital, operational support?
If the initial assessment is positive, we will request more detailed information — but we do not expect a fully prepared data room for the first meeting.
Step 1: Initial review (1-2 weeks). We review the basic information and assess whether the opportunity fits our criteria. If it does, we schedule a meeting.
Step 2: First meeting. We meet the business owner (and advisor, if applicable) to understand the company, the market, and the transaction context. This is a two-way conversation — we also explain how we work and what we can offer.
Step 3: Preliminary analysis (2-4 weeks). If the meeting confirms mutual interest, we conduct a preliminary analysis based on the information available and prepare an indicative assessment.
Step 4: Letter of intent. If the analysis is positive and the terms are aligned, we present a letter of intent with the proposed terms.
Step 5: Due diligence (6-12 weeks). Upon signing the LOI, we conduct comprehensive due diligence — financial, tax, legal, labour, and commercial.
Step 6: Closing. If due diligence confirms the assessment, we negotiate and sign the definitive sale and purchase agreement.
The entire process, from first contact to closing, typically takes four to eight months.
Beyond capital, we offer active partnership: governance support through board participation, operational expertise from managing a diversified portfolio, sector knowledge in our core areas, and a network of contacts that creates value for portfolio companies.
Most importantly, we offer patient capital — investment with no predetermined exit date, aligned with the long-term interests of the company.
If you believe your company could benefit from a partnership with Blue Mountain, we welcome the conversation. We respond to every serious inquiry, we treat every interaction with confidentiality, and we make our interest (or lack thereof) clear quickly, so that no one’s time is wasted.
By Blue Mountain Capital
By Blue Mountain Capital
By Blue Mountain Capital
If you wish to explore a potential collaboration or present an investment opportunity, we invite you to contact us. We guarantee absolute confidentiality in all our conversations.