Aurica Capital, private equity firm, has acquired a minority stake in Fiabilis Consulting Group. Fiabilis is a consultancy specialising in the optimisation of labour and Social Security costs for large companies. In 2025, the consultancy generated revenue of €21.3 million.🌍
Fiabilis was founded in Madrid in 2009 by Guillaume Vignancour and Arnaud Tardif, who will continue to lead the business alongside Aurica and the management team.
The consultancy has an established international presence across Spain, Italy, Belgium, Poland, Chile, France and Germany. The group employs around 140 professionals and serves more than 2,200 corporate clients, for whom it monitors approximately 2.5 million employees. Since its foundation, it has generated more than €600 million in cumulative savings for its clients. The company operates in a market with significant growth potential, which has enabled it to sustain double-digit growth in recent years.
Fiabilis also claims to be the only multi-jurisdictional specialist in its sector focused on the optimisation of labour and Social Security costs for large companies and capable of providing an end-to-end service.
The company manages its clients’ relationships with public administrations on human resources matters on an end-to-end basis, identifying savings opportunities in their social security contributions in exchange for a fee linked to the results achieved.
Aurica Capital’s investment, through Aurica Growth Fund IV, will enable Fiabilis to accelerate its strategic plan by strengthening its position in its existing markets, expanding into new geographies, broadening its service offering and increasing cross-selling opportunities across its client base.
The project will also focus on further leveraging data applied to human resources and complementing organic growth through selective acquisitions, with the aim of establishing Fiabilis as a leading international human resources consultancy group, according to the companies.
A&O Shearman, KPMG and L.E.K. Consulting advised Aurica Capital on the transaction. On the sellers’ side, Norgestión acted as investment bank and financial adviser, alongside Mavens and PwC.
“Fiabilis brings together the key attributes we look for in our investments: a differentiated, profitable and scalable business model, highly recurring revenues, an international presence and a management team with a strong track record. Our goal is to support Guillaume, Arnaud and the entire team in building a leading international group specialising in labour cost optimisation,” said Martín Vargas, partner at Aurica Capital.
