CriteriaCaixa reaches a preliminary agreement with Celsa to invest in the group’s equity and drive its industrial plan
- CriteriaCaixa will become a significant shareholder in Celsa with an approximately 20% stake through a capital increase aimed at supporting the company’s financial reorganization.
- The strategic alignment between CriteriaCaixa and Celsa underscores their shared commitment to promoting industrial activity in a vital sector to the Spanish economy.
Barcelona, April 2, 2025.
CriteriaCaixa, the investment holding company that manages “la Caixa” Foundation’s business assets, has reached a preliminary agreement to acquire a stake in the capital of Celsa Group, Europe’s leading producer of low-emission circular steel, through a capital increase.
The Board of Directors of Celsa Group has approved the continuation of negotiations, with the intention of incorporating CriteriaCaixa as a key shareholder holding approximately 20% of the company. The transaction is expected to be finalized in the coming weeks.
This alliance will support Celsa’s ongoing financial restructuring efforts and provide a strong boost to its industrial development strategy.
As part of this process, Celsa initiated the search for a Spanish industrial-focused shareholder, in accordance with commitments made with the Spanish government by the current shareholders. Of the five proposals submitted, the offer from CriteriaCaixa was selected. In addition to offering strong quantitative and qualitative value, Celsa recognized the strategic alignment, reputation, and experience of the investor. Existing shareholders are also expected to participate in the capital increase.
CriteriaCaixa emphasized the importance of Celsa’s long-term leadership and solid commitment to socioeconomic development in the regions in which it operates—particularly in Spain, where it has had a presence for nearly 60 years. The holding company aims to enhance the competitiveness of a business operating in a strategically important sector with direct influence across multiple industries.
Celsa’s focus on innovation, digitalization, and circularity aligns with CriteriaCaixa’s commitment to ESG principles. Celsa manages Europe’s largest circular supply chain and has invested 58€ million in R&D in the last three years.
If completed, the transaction would further CriteriaCaixa’s objective of investing in high-growth, value-generating industrial companies, as outlined in its 2030 Strategic Plan. The investment is also part of Criteria’s broader ambition to diversify its portfolio and gain exposure to the industrial sector, leveraging the growth potential of a leading company entering a strong expansion cycle.
This move supports the growth of CriteriaCaixa’s private equity portfolio, which aims to reach a value of €4 billion by 2030. As Spain’s leading investment holding and one of Europe’s largest, CriteriaCaixa currently manages a portfolio worth €30.4 billion, with a target of €40 billion by 2030.
About Celsa Group
Celsa Group is Europe’s leading producer of low-emission circular steel and manages the continent’s largest circular supply chain. The company recycles scrap metal to produce steel using electric arc furnace technology, recognized for its sustainability and energy efficiency.
Celsa operates 120 work centers, including 7 steel mills, 12 rolling mills, and 48 recycling plants (circular hubs), along with transformation, distribution, and service companies. These operations support over 70,000 direct, indirect, and induced jobs across Europe. The group has an industrial presence in Spain, France, the United Kingdom, Denmark, Finland, Norway, Poland, Sweden, and Ireland.
Celsa has set ambitious goals to reduce CO2 emissions by 50% and reach 98%
