FAIN Group, one of Europe’s fastest-growing lift and elevator companies, has reported strong financial results for the past 12 months, with total net revenue reaching €256.9m, significantly exceeding budget expectations.
Focused international growth strategy
The FAIN Group’s continued expansion is being driven by a focused international growth strategy, with Ireland playing a key role in its long-term development.
FAIN Group strengthened its position in Ireland with the acquisition of Accel Lifts in December of last year, marking a significant expansion for the Spanish-owned company and making Ireland its first No 1 market globally.
In Ireland, FAIN generated revenue of €18.9m, with now managing more than 3,000 units nationwide and contributing to over 8,600 serviced units across the FAIN Ireland portfolio. The company’s Irish growth strategy is centred on acquiring and transforming underperforming businesses, strengthening service delivery, and building long-term value across its maintenance and modernisation portfolio.
Across the Group, FAIN delivered EBITDA of €35m, reflecting a 13.6% margin, as it continues to scale its operations across Europe.
Since 2021, the company has more than doubled its revenue, growing from €109m to more than €256m, while increasing EBITDA from €20m to nearly €35m.
International markets are now a major contributor to overall performance for the group with 40% of total revenue generated outside of their home market of Spain (up from 14% in 2021), while their international EBITDA now accounts for 25% of total group earnings from an international portfolio representing 36% of their total units, with 8,000 units added through acquisitions in 2025 alone.
Disciplined acquisitions
Miguel Gómez, CEO of FAIN Group, said: “These results reflect the strength of our long-term strategy, combining disciplined acquisitions with strong operational integration and a clear focus on service quality.
"Ireland is a very important market for FAIN. We see significant opportunity to continue building scale here by partnering with local businesses, strengthening performance and investing in long-term growth.
"Our ambition is not just to grow, but to build a business that delivers consistently high standards for customers across maintenance, modernisation and new installations.”
Michael Kelly, general manager of FAIN Ireland, added: “We’ve built strong momentum in Ireland over the past number of years, growing our portfolio and strengthening our presence nationwide. Our focus is on delivering reliable, high-quality lift services while continuing to invest in the business through strategic acquisitions and operational improvements. Being part of the wider FAIN Group gives us the scale, systems and expertise to compete at the highest level in the Irish market.”
To date, the FAIN Group has completed 134 acquisitions across Europe, supported by a well-established integration model that enables newly acquired businesses to be operationally aligned within one month. This disciplined acquisition strategy continues to underpin the Group’s growth, allowing it to expand its footprint while maintaining operational consistency and performance.
FAIN Group now employs 1,743 people, representing a 26% increase, with international markets accounting for 31% of the total workforce. This investment in people continues to support the group’s expansion across key markets, including Ireland.