NEXUSAVICULTURA | ANALYSIS | 8 MAY 2026
The listed group of entrepreneur José Elías completes its second acquisition in the poultry equipment segment in barely seven months. The transaction, valued at €2.7 million, reinforces the thesis that poultry farming has become a strategic target for investors who, until recently, had no connection to the sector.
Reus (Tarragona), 8 May 2026. Grupo Ezentis has today formalised the acquisition of 100% of COMAVIC, a Catalan company specialising in turnkey integral projects for poultry operations, for a total consideration of €2.7 million paid in cash. The transaction is the first of the first half of 2026 within the inorganic growth plan that the listed group announced to the market following its recent capital increase, which was oversubscribed by investors.
Far from being an isolated transaction, the move fits into a pattern that is already taking clear shape: poultry farming has become an attractive territory for major investors who, until very recently, were looking towards other sectors.
A second poultry equipment company in less than seven months
COMAVIC does not arrive at a novice Ezentis. In October 2025, Grupo Ezentis made its move into poultry with the acquisition of a 55.65% stake in Elías Equipamientos Ganaderos (EEG), an Andalusian reference company in poultry and pig farming equipment. That transaction, regarded by Ezentis itself as its formal entry into the agro-industrial segment, was concluded with a clear message to the market: diversification into technical farm installations was not an experiment, but a strategic line of business.
The acquisition of COMAVIC is, in this respect, the confirmation. And it is so for several reasons. First, because it geographically complements EEG’s presence (with its operational base in southern Spain) by extending coverage to Catalonia, the Basque Country, Madrid and the Levante region. Second, because it broadens the group’s technical portfolio: COMAVIC works with leading international manufacturers and brings a comprehensive catalogue covering feeding, drinking, nesting, egg collection and transport, automation, environmental control, and climate management. And third, because it adds more than six decades of recurring relationships with the Spanish poultry customer base.
In seven months, Ezentis has gone from having no presence in poultry to controlling two equipment companies with nationwide coverage.
COMAVIC: 60 years at the technical heart of the farm
Headquartered in Reus (Tarragona) and founded in 1963, COMAVIC is one of those companies that the entire industry knows: small in size (just 13 staff, complemented by a network of external installation contractors), large in market penetration. Its model combines a dedicated technical structure with operational flexibility, which has enabled it to deliver integral projects for both new builds and the refurbishment of existing installations across the entire country.
The figures that Ezentis itself released in the press release for the transaction paint the picture of a small but financially sound company: revenues close to €5 million in the 2025 financial year, EBITDA in excess of €600,000, and net financial debt below €400,000. Translated into multiples: a valuation of €2.7 million on an EBITDA of approximately €600,000 places the transaction at roughly 4.5x EBITDA. A contained figure, in line with what one would expect for a technical SME with solid profitability, recurring turnover, and no surprises on the balance sheet.
Ezentis CEO Anabel López Porta described the addition in measured but significant terms: COMAVIC, she said, brings “a solid reputation, a high degree of technical specialisation, and a consolidated position in a segment with significant growth opportunities.” This is the language of a financial investor, not an industrial company, and it says a great deal about the rationale behind the construction of Grupo Ezentis’s agro-industrial division.
The pattern: when ‘outside’ capital looks to poultry
The COMAVIC transaction is interesting in its own right, but it takes on an additional dimension when viewed in the broader context of the past twelve months. Entrepreneur and investor José Elías, chairman and reference shareholder of Ezentis, is recognised for his investments in energy, telecommunications, and infrastructure — not for a historical track record in agri-food. His arrival in the poultry sector is, therefore, a notable fact. A fact that does not stand alone.
Eggs and poultry meat have ceased to be commodity proteins and have become, in the eyes of major capital, assets with structural demand and long-term consolidation potential.
The common denominator of all these moves is telling: investors whose bottom line has historically been unrelated to agriculture are now entering poultry with significant stakes and medium-to-long-term investment horizons.
The underlying reasons are well known to those working in the sector, but are worth enumerating. Poultry protein is the fastest-growing in terms of per capita consumption worldwide; highly pathogenic avian influenza has created a supply-tension scenario that rewards scale and geographic diversification; regulatory and animal welfare requirements are raising barriers to entry and favouring operators with financial capacity; and sector consolidation is still at an early stage, with ample room to create value through integration.
In that context, what Ezentis is doing with COMAVIC is not simply investing in any business, but securing its positioning in a specific link in the poultry value chain: that of technical services, equipment, and maintenance. A layer less visible than poultry rearing itself, feed production, or processing, but critical for the poultry farmer and, above all, recurring. The replacement and modernisation of equipment on Spanish farms represents a continuous stream of demand, particularly in the laying hen house stock.
Based on recent statements by José Elías, it is my view that in the medium term we will see further acquisitions in other links of the poultry production value chain.
Transaction summary
| Acquirer | Grupo Ezentis (through Ezentis Instalaciones y Equipamientos, S.L.U.) |
| Acquired company | COMAVIC (Reus, Tarragona) |
| Consideration | €2.7 million (cash, 100% of share capital) |
| COMAVIC founding year | 1963 (over 60 years of history) |
| Headcount | 13 staff + network of external installation contractors |
| 2025 revenue | ≈ €5 million |
| 2025 EBITDA | > €600,000 |
| Net financial debt | < €400,000 |
| Approximate multiple | ≈ 4.5x EBITDA |
| Related prior transaction | Acquisition of 55.65% of Elías Equipamientos Ganaderos (October 2025) |
| Ezentis advisers | J&A Garrigues, Baker Tilly, EY-Parthenon |
Good news for the sector, with caveats
For the Spanish poultry farmer, the arrival of a financially strong listed group in the equipment segment carries positive implications. The main one: potentially greater investment capacity, professionalisation of the service offering, and, in due course, more ambitious proposals in farm automation and energy management. One can reasonably expect the synergies between COMAVIC and Grupo Ezentis’s capabilities in communications networks and energy to translate into a more competitive integrated offering.
A degree of caution is nevertheless warranted. Consolidation also has its downside: fewer players means, in the long run, less local competition and a somewhat greater pricing power in the hands of the supplier. COMAVIC’s trajectory under the Ezentis umbrella will reveal whether the integration preserves the close, technical character that poultry farmers value in a company that has worked on their farms for decades, or whether it becomes diluted within a corporate structure that loses touch with the end customer.
For now, what the transaction places on the table is a clear signal: Spanish poultry farming is attracting serious, quality investment with a long-term commitment.
And that, in a sector that for years has had to justify its relevance against other food supply chains, is excellent news.
Federico Castelló
Founder of NexusAvicultura.com
To find out more on NexusAvicultura:
-. The investments of entrepreneur José Elías and EZENTIS in poultry
-. Company news and investments in poultry