Bové Montero grows by 12%, nearing €15 million

The professional services firm Bové Montero y Asociados, member of the HLB network, closed its latest fiscal year with a 12.2% increase in turnover, reaching €14.6 million, according to data shared by the firm. Bové Montero has five offices in Spain, located in Madrid, Barcelona, Palma de Mallorca, Seville, and Valencia, and a workforce of 160 professionals nationwide. This double-digit growth enables the firm to maintain its upward trajectory. In fact, over the last decade, Bové Montero y Asociados has tripled its revenue, which stood at almost €4 million at the end of 2015. 

The firm attributes this performance partly to the success of its China Desk, which specialises in advising Chinese clients.  According to Bové, this improvement in figures is “due to an increase in Chinese clients operating in the automotive and renewable energy sectors”. Similarly, the firm highlighted the “full consolidation” of its Artificial Intelligence (AI) and Digitalisation department, fuelled by an increase in internal automation projects and the design and implementation of interactive data visualisation tools for clients. These projects aim to optimise decision-making, implement process automation (RPA) to boost productivity and efficiency, and deploy advanced AI tools. 

Amidst a process of consolidation in the sector —which has so far seen notable transactions in Spain, such as the Waterland fund entering Auren and New Mountain entering Grant Thornton— José María Bové, president of Bové Montero y Asociados, considers the firm’s key factors to be “a solid business structure, sustained and robust growth over time, and the group of partners controlling all capital internally”. He considers the firm’s model to be “quite unique today”, contrasting it with sector dynamics such as “merger processes” or the acquisition of shares by investment funds or venture capital.

Read news at: Expansión.com