21 Invest is pleased to announce its entry into the Spanish market through its investment in Grupo Celesa, the Spanish leader in high-precision cutting tools and hand tools for professional applications across a wide range of industrial sectors.
Founded in 1987 and headquartered in Iurreta (Bilbao), in one of the major Spanish industrial area, Grupo Celesa operates through two proprietary brands: Blue-Master, specialized in professional cutting tools, such as drills in special materials and saw disks, and Dogher, dedicated to hand tools such as wrenches and screwdrivers.
Over the past twenty years, under the leadership of CEO Joseba Citores, Grupo Celesa has undergone a significant evolution and professionalization, consolidating its market position and distinguishing itself through the high specialization of its offering. Its catalog of nearly 80,000 products represents the widest range of cutting tools available on the Spanish market, enabling the Group to deliver a level of service exceeding its competitors’ and to respond promptly to customer needs and requirements.
The company generated revenues of more than €20 million in 2025, with approximately €25 million expected for 2026 and EBITDA of nearly €8 million, with cash-generative business model. International sales outside Spain account for 15% of the total, with France as the leading export market.
Grupo Celesa’s founder and management team will remain closely involved in the Group’s growth, reinvesting alongside 21 Invest. Joseba Citores will continue to serve as CEO, leading the Group into its next phase of development.
The development plan agreed with 21 Invest sets out international expansion across Europe, the introduction of new product lines, organic growth of the Group, and the strengthening of its commercial and organizational structure. The plan also contemplates targeted acquisitions to accelerate expansion in strategic markets, including France, Italy and Northern Europe.
Alessandro Benetton, Chairman of 21 Next and Founder of 21 Invest, commented: "The transaction marks 21 Invest's establishment in Spain, where the firm now operates through a dedicated local team focused on identifying new investment opportunities and building partnerships with entrepreneurs and businesses across the region. With this investment, the first made by 21 Invest in Spain, we are strengthening our presence in Europe and extending our model of industrial and entrepreneurial value creation to a new strategic market. Spain has a dynamic entrepreneurial ecosystem, rich in opportunities, where we intend to continue building partnerships with strong and ambitious companies like Grupo Celesa."
Stefano De Rossi, Partner at 21 Invest, and José Megía, Principal at 21 Invest, commented: "Grupo Celesa stands out as the ideal partner for our first investment in Spain: a leader in a highly specialized sector, supported by a highly experienced management team and compelling growth opportunities. We were particularly impressed by the strength of its market positioning, built over time through a broad, high-quality product offering and a distinctive level of service. We look forward to supporting the Group in the next phase of its growth."