Madrid, 31 December 2025
As we move through the first weeks of 2026, we do so with real momentum. 2025 was a year of strong execution and trusted partnerships, marked by the addition of 2 new platform companies to the Henko family.
We also saw relevant progress across our portfolio. Working hand in hand with our management teams, our companies delivered healthy organic growth and advanced our buy and-build strategy with strategic acquisitions.
Below are a few selected highlights from 2025.
- Attlon is born: Attlon is formed by the integration of Cottés and Electro Alavesa, creating a unique player in the Iberian market, by combining Cottés’ specialisation in smoke and fire protection with Electro Alavesa’s advanced security technology.
- Linkroad reinforces capabilities with AI: Linkroad integrates Decide4AI, a leading Spanish technology boutique specializing in applied artificial intelligence, mathematical optimization and expert systems. The transaction reinforces Linkroad’s position as a global provider of high-value technology services with over 800 employees across Iberia, Latin America, and the Middle East.
- Henko invests in urban mobility and traffic management technology: Henko has invested in a technology platform focused on urban mobility and traffic management solutions. The company serves public authorities through long term contracts. Our ambition is to build a leading player in ITS (intelligent transport systems) through a focused buy-and-build strategy.
- Quadrante accelerates international expansion: led by CEO Nuno Costa, Quadrante continues to scale its platform by strengthening its position in Spain through the integration of Meta and Izharia, while reinforcing its governance with the appointment of Fritz Hoderlein – former CEO of Everis / NTT Data Europe – as Board Member. In parallel, the group enters the US market, a key strategic objective through the acquisition of Right Analytics.
- Balflex strengthens its leadership and operations: since the investment in November 2024, Balflex has reinforced its leadership team with the addition of Gordon Duff as Managing Director for the US and Global OEM division, Paulo Silva as CFO and Ralf Dahmer joining the Board. Alongside these appointments, the group has accelerated initiatives to strengthen operational resilience and supply chain efficiency, particularly in the US and the OEM segment.
- Revergy expands its wind market capabilities: Revergy launches a spare part supply unit for the wind market, complementing its existing service lines, enhancing its capabilities as an Independent Service Provider and delivering full lifecycle support to the energy sector. This new unit opens commercial opportunities for clients seeking reliable, end-to-end solutions, ensuring faster response times, optimized maintenance, and reduced operational costs across the wind assets.
- Portfolio Performance teams: during 2025, João Rato and Ferran Turmo have joined the investment team, bringing fresh perspectives and additional execution capacity across deal sourcing and execution. In parallel, Monika Hoderlein and Rubén Hierro strengthen the portfolio performance team, further supporting value creation and growth across the portfolio.
Overall, 2025 has been a year of steady progress across our portfolio, with continued advancement towards our strategic objectives and further strenghtening of our management teams and boards.
We remain committed to working closely with our investors, business partners, and management teams, while maintaining a disciplined focus on new opportunities within our core sectors.
