- CriteriaCaixa will be incorporated as a relevant shareholder with approximately 20%, in an operation that will be carried out through a capital increase to consolidate Celsa’s financial reorganisation.
- Celsa’s strategy and that of Criteria fit in with its desire to promote industrial activity in a key sector for the Spanish economy.
Barcelona, 2 April 2025 – CriteriaCaixa, the investment holding company that manages the business assets of the ‘la Caixa’ Foundation, has reached an in principle agreement to acquire a stake in the capital of the Celsa Group, Europe’s leading producer of low-emission circular steel, through a capital increase.
Through this alliance, CriteriaCaixa and Celsa strengthen the financial reorganisation strategy of the steel manufacturer and promote their already ongoing industrial plan.
Celsa initiated a process for the incorporation of a Spanish shareholder with an industrial vocation. In this process, a total of five bids were submitted, and CriteriaCaixa’s bid was chosen. In addition to the excellent quantitative and qualitative assessment of the bid, Celsa also valued the strategic alignment, as well as the reputation, prestige and experience of the bidder. Existing shareholders would also participate in this capital increase.
For its part, CriteriaCaixa considered its leadership with a long-term vision and its solid commitment to socio-economic development in the countries where it operates, especially in Spain for almost 60 years, to be decisive. Therefore, the industrial holding company wants to boost the competitiveness of the business in a strategic area for the economy, with direct influence on multiple sectors.
Likewise, the capacity for innovation, digitalisation and circularity fits in with CriteriaCaixa’s aim to promote ESG criteria. Celsa is Europe’s largest circular supply chain and has invested 58 million euros in R&D over the last three years.
If completed, the transaction would reinforce Criteria’s objective of investing in industrial companies in highly attractive sectors with the capacity to grow and generate value, as part of its 2030 Strategic Plan. In this way, the holding company aims to strengthen its diversification strategy, gaining exposure to the industrial sector, and directly impacting the potential of a leading company that is in a growth cycle in the coming years.
This investment is part of the drive outlined in the Strategic Plan for Criteria’s private equity portfolio, aiming to reach an estimated value of €4,000 million by 2030. As the first investment holding company in Spain and one of the first in Europe, CriteriaCaixa manages a portfolio of €30,400 million and aims to reach €40,000 million by 2030.
About Celsa Group
Celsa is the first European low emission circular steel producer with the largest circular supply chain in Europe. It recycles ferrous scrap to produce steel in electric arc furnaces, using a benchmark technology in sustainability and energy efficiency.
The company has 120 work centres, 7 steel mills, 12 rolling mills and 48 recycling plants (circular hubs), as well as transformation, distribution and service companies, which generate direct, indirect and induced employment for more than 70,000 professionals in Europe. It is present industrially in Spain, France, United Kingdom, Denmark, Finland, Norway, Poland, Sweden and Ireland.
The group has set itself the objectives of reducing its CO2 emissions by 50% by 2030 and achieving 98% circularity by 2030 and completing its circularity and becoming a Net Positive company by 2050.
