APPLUS SERVICES SA
Applus Services, S.A. is a public limited company (sociedad anónima) incorporated in Spain and registered with the Registro Mercantil under number A64622970, with its registered office in Madrid. The Registro Mercantil records the company’s status as active. Operating under the Applus+ brand, the company provides testing, inspection, certification and engineering services to clients in the energy, industry, automotive and infrastructure sectors.
Applus Services, S.A. was formerly listed on the Bolsa de Madrid under the ticker APPS. Following a delisting takeover bid launched by Amber EquityCo, S.L.U. and authorised by the Comisión Nacional del Mercado de Valores (CNMV) on 30 October 2024, the company’s shares were excluded from trading with effect from 27 November 2024. The offer, priced at 12.78 euros per share, targeted the 27.62% of share capital not already held by the offeror. Applus Services, S.A. is consequently no longer a listed company.
As a listed entity, Applus Services, S.A. reported consolidated revenue of 2,058 million euros for the financial year ended 31 December 2023. Consolidated revenue for the six months ended 30 June 2024, the last interim results published before the shares were suspended from trading, was 1,094.3 million euros, an increase of 9.3% on the same period of 2023.
The 2024 delisting followed a competitive takeover process in which Amber EquityCo, S.L.U. (backed by funds advised by I Squared Capital and TDR Capital) and Manzana Spain Bidco, S.A.U. (an Apollo Global Management vehicle) each submitted competing offers for Applus Services, S.A. during 2024, with the Amber-backed bid ultimately prevailing and being taken forward to delisting.
- Company fundamentals
- Corporate linkage & group structures
- Digitized company financials
- Firmographics — websites, social profiles, revenue and employee estimates
Shareholders
5
Shareholders of Applus Services, S.A.
Applus Services, S.A. was, until November 2024, a listed company on the Bolsa de Madrid, and its CNMV disclosure filings from that period recorded a number of international asset managers holding stakes above the regulatory notification threshold, including several US and European index and value funds. Following the delisting takeover bid launched by Amber EquityCo, S.L.U. and authorised by the CNMV on 30 October 2024, the offeror’s holding (already at 72.38% of share capital through prior immobilised shares) was increased through a tender offer for the remaining 27.62%, priced at 12.78 euros per share. Amber EquityCo, S.L.U. subsequently sought a squeeze-out of any remaining minority shares under Article 48 of Royal Decree 1066/2007. Applus Services, S.A. is now controlled by Amber EquityCo, S.L.U., a private holding vehicle, rather than by dispersed listed-market shareholders.
Ultimate beneficial ownership
Amber EquityCo, S.L.U. is wholly owned by Amber BidCo, S.L.U., which is in turn wholly owned by Amber HoldCo Limited and Amber MidCo 1 Limited, culminating in Amber JVCo Limited (UK company number 14936359), the ultimate parent of the acquisition structure. Amber JVCo Limited is jointly and indirectly controlled, in an approximately 50/50 split, by ISQ Global Infrastructure Fund III (advised by I Squared Capital Advisors) and TDR Capital V L.P. (managed by TDR Capital General Partner V Limited). No natural-person ultimate beneficial owner is disclosed at this level; control is exercised through institutional infrastructure and private-equity fund vehicles rather than an identified individual.
Data availability
Full: the corporate acquisition structure down to Amber JVCo Limited is confirmed through CNMV takeover-bid documentation and UK Companies House records. Not found: no natural-person UBO is disclosed for the fund-level owners, consistent with institutional and private-equity fund ownership structures.
Sources
- Comision Nacional del Mercado de Valores (CNMV) – Delisting takeover bid authorisation, 30 October 2024
- Comision Nacional del Mercado de Valores (CNMV) – Resolution on exclusion from trading, 21 November 2024
- PR Newswire – TDR Capital and I Squared Capital successful in bid for Applus Services, S.A.
- UK Companies House – Amber JVCo Limited, company number 14936359
- TDR Capital – Applus portfolio page
Registry feed — rows exactly as filed with Colegio de Registradores / Registro Mercantil Central, including entries the profile above does not cover.
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| Longleaf Partners International Fund | 32.2% | Colegio de Registradores / Registro Mercantil Central | |
| Oakmark International Small Cap Fund | 20.9% | Colegio de Registradores / Registro Mercantil Central | |
| Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund | 6.5% | Colegio de Registradores / Registro Mercantil Central | |
| iShares Core MSCI EAFE ETF | 5.3% | Colegio de Registradores / Registro Mercantil Central | |
| iShares MSCI EAFE Small Cap ETF | 3.6% | Colegio de Registradores / Registro Mercantil Central |
Officers
15
Directors and officers of Applus Services, S.A.
Applus Services, S.A.’s board and executive leadership changed materially following the change of control completed in late 2024. Joan Amigo I Casas, who had served as Chief Executive Officer since 2022, stepped down from that role with effect from 7 April 2025 and moved into a newly created Senior Advisor to the Board position, reporting to the Chairman. Richard Bartlett, previously Chief Executive Officer of BP Pulse and head of BP’s European Fuel and Convenience retail business, was appointed as the new Chief Executive Officer, assuming the role in June 2025. Mike Smith was appointed Chairman of Applus+ as part of the post-takeover board reconstitution.
Recent officer changes
- Joan Amigo I Casas ceased to be Chief Executive Officer effective 7 April 2025 and became Senior Advisor to the Board (Source: Applus+ company announcement, 3 April 2025).
- Richard Bartlett appointed Chief Executive Officer, assuming the role in June 2025 (Source: Applus+ company announcement, 3 April 2025).
- Mike Smith appointed Chairman of Applus+ following the change of control (Source: Applus+ company announcement, 3 April 2025).
Data availability
Partial: the CEO and Chairman changes are confirmed through the company’s own press announcements rather than a Registro Mercantil filing reviewed in this research, so the effective date of formal registration of these appointments was not independently verified. Nationality and country of residence for the newly appointed officers were not disclosed in the sources reviewed.
Sources
- Applus+ official website – Richard Bartlett joins Applus+ as CEO announcement
- Business Wire – Applus+ Appoints Richard Bartlett as Chief Executive Officer, 3 April 2025
Registry feed — rows exactly as filed with Colegio de Registradores / Registro Mercantil Central, including entries the profile above does not cover.
Group Structure
Group structure of Applus Services, S.A.
Applus Services, S.A. is part of a corporate group controlled by Amber EquityCo, S.L.U., the Spanish acquisition vehicle used in the 2024 delisting takeover bid. The verified ownership chain runs from Amber EquityCo, S.L.U. through Amber BidCo, S.L.U., Amber HoldCo Limited and Amber MidCo 1 Limited to Amber JVCo Limited (UK company number 14936359), the ultimate identified parent. Amber JVCo Limited is jointly and indirectly controlled by investment vehicles advised by I Squared Capital and by TDR Capital. This structure spans Spain and the United Kingdom; this research did not independently verify Applus Services, S.A.’s own direct or indirect operating subsidiaries.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| Amber EquityCo, S.L.U. | Spain | Not disclosed in sources reviewed | Immediate parent (offeror in delisting takeover bid) | Ownership percentage not disclosed | Active | 27 November 2024 |
| Amber JVCo Limited | United Kingdom | 14936359 | Ultimate parent (via intermediate holding companies) | Ownership percentage not disclosed | Active | 2024 |
Recent structural changes
- CNMV authorised the delisting takeover bid of Applus Services, S.A. by Amber EquityCo, S.L.U. on 30 October 2024.
- Applus Services, S.A. shares were excluded from trading on the Bolsa de Madrid with effect from 27 November 2024.
- Change of control completed, bringing Applus Services, S.A. within the corporate structure ultimately headed by Amber JVCo Limited.
Data availability
Partial: the immediate and ultimate parent entities are confirmed through CNMV takeover-bid documentation and UK Companies House records, but exact ownership and voting percentages at each level of the holding chain and Applus Services, S.A.’s own subsidiary list were not independently verified in this research.
Sources
- Comision Nacional del Mercado de Valores (CNMV) – Delisting takeover bid authorisation and resolution documents
- UK Companies House – Amber JVCo Limited, company number 14936359
- TDR Capital – TDR Capital V acquires Applus announcement
- PR Newswire – TDR Capital and I Squared Capital successful in bid for Applus Services S.A.
Registry feed — rows exactly as filed with Colegio de Registradores / Registro Mercantil Central, including entries the profile above does not cover.
AMBER JVCO LIMITED
United Kingdom
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Frequently Asked Questions
What does APPLUS SERVICES SA do?
Testing, inspection, certification and engineering services (TIC) for the energy, industry, automotive and infrastructure sectors.
Who owns APPLUS SERVICES SA?
Controlled by Amber EquityCo, S.L.U. following the 2024 delisting takeover bid and squeeze-out; formerly listed with dispersed institutional shareholders.
Who is APPLUS SERVICES SA's UBO (Ultimate Beneficial Owner)?
No natural-person UBO disclosed; ultimate parent is Amber JVCo Limited (UK company no. 14936359), jointly controlled by funds advised by I Squared Capital and TDR Capital.
What is APPLUS SERVICES SA's company registration number?
APPLUS SERVICES SA's registration number is A64622970, filed with Colegio de Registradores / Registro Mercantil Central in Spain. Its current status on the register is active.
Is APPLUS SERVICES SA still an active company?
APPLUS SERVICES SA's status on Colegio de Registradores / Registro Mercantil Central is listed as active.
What is APPLUS SERVICES SA's registered address?
The registered address on file for APPLUS SERVICES SA is Madrid, Spain.
What legal structure is APPLUS SERVICES SA registered as?
APPLUS SERVICES SA is registered as a Public Limited Company in Spain.
What is APPLUS SERVICES SA's revenue?
Consolidated revenue of 2,058 million euros for FY2023 (last full year as a listed company); 1,094.3 million euros for H1 2024.
Is APPLUS SERVICES SA listed on a stock exchange?
Delisted from the Bolsa de Madrid effective 27 November 2024, following a CNMV-authorised delisting takeover bid by Amber EquityCo, S.L.U.
Who are the officers/directors of APPLUS SERVICES SA?
Richard Bartlett appointed Chief Executive Officer (assuming the role June 2025), succeeding Joan Amigo I Casas who stepped down 7 April 2025; Mike Smith appointed Chairman.
Does APPLUS SERVICES SA have a parent company or subsidiaries?
Part of a corporate structure headed by Amber JVCo Limited (UK), via Amber EquityCo, S.L.U., Amber BidCo, S.L.U., Amber HoldCo Limited and Amber MidCo 1 Limited.
Can Zavia monitor changes to APPLUS SERVICES SA's ownership over time?
This profile reflects a point-in-time snapshot from Colegio de Registradores / Registro Mercantil Central. Zavia's monitoring API can track changes to APPLUS SERVICES SA's registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access APPLUS SERVICES SA's data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including Spain, so records like APPLUS SERVICES SA's registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from Colegio de Registradores / Registro Mercantil Central and was last synced on 11 August 2026.