HCapital I


Biomass Heating equipment and solutions

Solzaima is Portugal’s largest biomass heating equipment producer. The company produces wood and pellets domestic heating equipment, including insert fireplaces, stoves and boilers, both for central and local heating. It is present in all the industry’s sales channels, through different brands (Solzaima, Fogo Montanha and Redpod) and products, although not in all geographies – currently it is mostly focused in the Iberia market and, to a lower extent, in other neighboring markets.

Investment rationale

Increasing Solzaima’s international footprint, through new clients and distribution channels, as well as entering in new business segments and geographies in order to reduce seasonality.

Transaction Details

Date of investment / divestment
September 2016 / July 2023
Type of Operation
Management Buy Out


HCapital I