About us

SPIG and GMAB are part of AUCTUS Capital Partners AG

Discover our History

SPIG and GMAB are part of AUCTUS Capital Partners AG. Founded in 2001, AUCTUS is among the leading investment firms focused on European small and medium-sized companies. Through our buy-and-build strategies, AUCTUS has created more market leaders than any other fund in Europe. AUCTUS is, by far, the most active private equity firm in Germany. AUCTUS maintains this leading position despite the challenging market environment for investment companies and contrary to the current trend, where the number of private equity investors is decreasing in favor of strategic buyers.

SPIG

SPIG operates globally supplying an extensive range of turnkey cooling systems. Since 1936, we have designed, engineered and installed many state-of-the-art cooling system projects for a wide range of industries. SPIG is a global provider of custom-engineered cooling systems and services.
Established in Italy in 1936, SPIG solutions are known throughout the world, with project-based solutions and operations in nearly 50 countries. Our Paruzzaro cooling system center of excellence employs approximately 150 people in locations worldwide.
Our experience includes wet, dry and wet/dry hybrid cooling solutions as dictated by site specific requirements. We can supply both mechanical and natural draft systems and design for a wide range of project specifications such as high seismic loads, vibration control, corrosion, noise control, sub-freezing operation, and sea water use.
The projects highlighted below are examples of how SPIG has provided industry leading cooling system solutions for customers worldwide.

SPIG Timeline

1936

SPIG is founded by Eng. F. Bonati and Eng. A. Sorbatti

1966

SPIG becomes part of UDI (Marley)

2003

The third generation of the founding families regains ownership

2004–2008

SPIG establishes legal entities in Germany, UAE, Brazil, and other international markets

2005

SPIG expands its product offering by adding dry cooling systems

2010

AMBIENTA equity fund acquires stakes in SPIG to support international expansion

2012

Joint venture launched in China; introduction of SRB (Single Row Bundles) production and establishment of SPIG subsidiary in South Korea

2016

SPIG is acquired by Babcock & Wilcox (B&W), becoming part of a global engineering group

2020

New indoor and outdoor warehouses and a test cooling tower facility are inaugurated to support product development

2022

SPIG products are integrated into the Clean Energy segment of B&W, under B&W Environmental

2023

New subsidiary is established in Saudi Arabia. The China joint venture becomes 100% SPIG-owned

2024

SPIG and GMAB become part of the Auctus Group, marking a new phase of strategic growth

2025

New subsidiaries are established in UK and in USA

GMAB

Götaverken was founded in 1841 and produced ships, boilers, diesel engines and even aeroplanes. Götaverken Miljö AB (GMAB) was founded in 1988 as a spin-off from Götaverken Energy Systems. The first major project were compression heat pumps at GRYAB and three lines of wet flue gas treatment with flue gas condensation in 1988 at GRAAB, both in Göteborg. This was the world’s first flue gas condensation plant in a Waste-to-Energy plant. GMAB was acquired by Sjätte AP-fonden in 1998. In 2010, Babcock & Wilcox Vølund A/S acquired GMAB, integrating it into their environmental solutions portfolio. In 2024, GMAB was acquired by AUCTUS Capital Partners AG and partners with SPIG SpA. GMAB is known for its advanced flue gas cleaning systems and technologies and has a strong focus on developing and commercializing new technologies, and have worked with several Universities and Research institutes in the pursuit of constantly reducing emissions and environmental footprint. The collaboration has resulted in a long range of innovative technologies.

GMAB Timeline

1841

Götaverken is founded in Sweden, producing ships, boilers, diesel engines, and aircraft

1988

Götaverken Miljö AB (GMAB) is established as a spin-off from Götaverken Energy Systems, focusing on environmental technologies

1988

GMAB delivers its first major projects: compression heat pumps at GRYAB and three wet flue gas cleaning lines with condensation at GRAAB in Göteborg — the world’s first flue gas condensation plant in a Waste-to-Energy facility

1998

GMAB is acquired by Swedish state-owned investor Sjätte AP-fonden.

2010

Babcock & Wilcox Vølund A/S acquires GMAB, integrating it into their portfolio of environmental solutions

2017

GMAB’s name changes to B&W Völund AB

2022

GMAB become part of B&W Environmental segment

2024

GMAB is acquired by AUCTUS Capital Partners AG and enters into a strategic partnership with SPIG SpA

2025

New subsidiaries are established in UK and in USA

Today

GMAB is recognized for its advanced flue gas cleaning technologies and its strong commitment to innovation, R&D, and environmental impact reduction — in close collaboration with universities and research institutes