MAWEEKLY · 11 de marzo de 2024

Week 10 (2024) in M&A and Private Equity 🛰️🇪🇸

Weekly collection of transactions (February 4 - March 10)

• CoverManager, a Seville-based startup specializing in restaurant software, has acquired the event management platform Premiumguest. This acquisition expands CoverManager’s services beyond restaurant reservations, where it already serves 15,000 clients across 40 countries. Premiumguest, known for selling tickets for various venues and events, achieved €20 million in revenue in 2023 and aims to double this figure in 2024. This move follows CoverManager’s earlier acquisition of French rival Guestonline and a significant funding round that raised its valuation to €140 million. 1

• ESP Solutions (Avior Capital, Blantyre Capital) based in Ceutí, Murcia, has acquired NKS Logistics, a Germany-based company specializing in southern traffic services. This acquisition, part of ESP’s inorganic growth strategy, complements its existing operations, enhancing its ability to serve clients across Europe, particularly in the fresh produce sector. This is ESP’s second acquisition in early 2024, following the purchase of Autransa. 2

• Serveo (Portobello) has acquired Grupo Jauregui, a Basque company linked to the regional steel industry, marking a significant step in expanding its industrial service portfolio. This acquisition brings 300 professionals into Serveo Industria, bolstering its specialization in engineering and mechanical maintenance. The move reinforces Serveo’s presence in key Spanish regions and follows its growth strategy post-Portobello Capital’s major shareholding. Serveo aims for a turnover close to €1.6 billion in coming years, supported by this and other strategic acquisitions. 3

• Grupo Mengual (Suma Capital) has acquired Albafer, enhancing its position in the Spanish hardware distribution market. This acquisition follows Mengual’s recent transactions, including the acquisitions of Vives Marín, Herkönig, and the integration of Bolibar. Albafer, established in 1998, is recognized for its wide range of carpentry and construction tools and supplies. This alliance boosts Mengual’s presence in the Levante region, highlighting its commitment to growth and specialization in the competitive sector. 4

• Cooltra, Europe’s leading provider of sustainable mobility on two wheels, has announced an agreement with felyx, the pioneering moped sharing operator in the Netherlands & Belgium, to extend its leading position in the European market. 5

• Marc Murtra, President of Indra, along with a group of investors, has acquired a majority stake in Karibou. This company, founded four years ago, produces single-use packaging made from cellulose and recyclable materials. This strategic move will see Karibou relocate to a new 11,000 square meter facility in Santa Perpètua de Mogoda. 6

• Loomis, a Swedish multinational with over 160 years of experience in financial and technological solutions, has acquired Hosteltáctil, a Spanish company specialized in technology solutions for the hospitality sector. This strategic merger aims to deliver innovative and high-quality solutions in the Spanish market. Hosteltáctil, with 20 years in the business, will help Loomis Pay accelerate its growth in Spain, a key market for Loomis’ digital business expansion. 7

• Indexa Capital Group has acquired France-based Caravel. Caravel specializes in retirement savings solutions and will complement Indexa Capital Group’s existing services. This transaction is in line with Indexa’s future acquisition plans in France, Spain, or Belgium. 8

• US-based Allegion has expanded its international portfolio by acquiring Dorcas, a Spanish company specializing in electro-mechanical access control solutions. This acquisition enhances Allegion’s offerings in the security sector, particularly in electric strikes and locks, aligning with their goal to provide comprehensive access solutions across various markets. 9

• MiddleGround Capital, an operationally focused private equity firm that makes control investments in North American and European headquartered middle market B2B industrial and specialty distribution companies, today announced that it has acquired IT8, a Spain based independent engineering services company offering mechanical, electrical, programming, and construction services.10

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I am a Partner at IMAP Albia Capital. IMAP is an International Mergers and Acquisitions Partnership with a 50-year track record, more than 450 M&A professionals worldwide and a presence in 50 countries. IMAP has closed over 2,200 transactions valcued at $130bn in the last 10 years and is consistently ranked in the world’s Top 10 M&A advisors (Refinitiv) for mid-market transactions.

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