MAWEEKLY · 25 de marzo de 2024

Week 12 (2024) in M&A and Private Equity 🛰️🇪🇸

Weekly collection of transactions (March 18 - March 24)

• Oakley Capital has acquired Horizons Optical from Sherpa Capital for €50 million. This investment in the progressive lenses software laboratory represents Oakley’s sixth investment in Spain. Sherpa Capital has seen significant returns from its sales of Indo and Horizons. 1

• Werfen signs an agreement with Palex (Apax, Fremman) for the divestiture of its Medical Devices and Scientific Instrumentation Distribution businesses in Spain and Portugal for c. €100 million. The sale includes Izasa Medical, Izasa Scientific, and MC Medical. 2

• Suma Capital has acquired 80% of the share capital of ATH Bioenergy, a company focused on the production and commercialization of biomethane. This is a pioneering initiative aimed at transforming the energy and waste recovery landscape in the Canary Islands towards a more sustainable and competitive future. The remaining 20% of the capital will remain in the hands of the promoter, the Swiss company Tibanna AG. 3

• Hinojosa consolidates its presence in Europe with the acquisition of the Italian MS Packaging. This acquisition marks Hinojosa’s entry into Europe’s second largest packaging market. MS Packaging is an Italian family enterprise comprising two plants (a packaging factory and a paper mill) with a strong presence in the food and beverage market. The company had a turnover of 60 million euros in 2023.  4

• Tradebe Life Sciences has expanded its international presence through the acquisition of the French company Fabster, a food flavourings producer with a presence in France, its overseas French territories, the Middle East, and Africa. The company currently serves nearly 400 customers in more than 40 countries, employs 23 people and generated revenues of around 6 million in 2023. 5

💥🎧 Listen to our latest podcast (in Spanish) on Tax M&A with Luis Cuesta (Gómez-Acebo y Pombo): https://www.fusionesyadquisiciones.co/tax-ma-con-luis-cuesta-ga_p/

• Dutch group Destino Holdings has acquired Doblemente, a Spanish company specializing in reservation management and contracting systems ERPs for the travel industry. This move is part of Destino Holdings’ strategy to create a large platform for inbound tourism in Spain and America through acquisitions. 6

• BBC Studios joins forces with Brutal Media. The addition of Spain-based Brutal to its growing Global Entertainment production network will enable BBC Studios to respond to the increased appetite for BBC content from Spanish audiences and support Brutal Media’s ambitions to export original creative IP from Spain to the wider international market. 7

• Controlauto (Brisa, Portobello), a Portuguese company leading the vehicle inspection sector in Portugal, has expanded into Spain by acquiring 100% of the Catalan company PrevenControl, based in Terrassa, Barcelona. PrevenControl operates eight ITV (vehicle technical inspection) stations in the provinces of Girona and Barcelona. Additionally, it engages in the occupational risk prevention sector. PrevenControl reported a revenue of €25 million last year and employs 350 people. 8

• Duplex is set to become the third largest elevator operator in Granada following its acquisition of Ascensores IASA. Following the integration of IASA, DUPLEX has added eight companies to its fold since 2021, underscoring its ambitious nationwide expansion strategy. Since 2021, DUPLEX has increased its service elevator park by 37%. In 2023, the company achieved a turnover close to €50 million, establishing itself as the eighth highest-grossing company in Spain’s elevator sector. 9

• MG Destilerías has acquired Coppa Cocktails to double its prepared cocktail (ready-to-drink) sales. Coppa Cocktails, available in 60 markets with an estimated sale of 300,000 cases this year, enriches MG Destilerías’ diverse product range. The integration is anticipated to solidify MG’s position in key international markets and the Global Travel Retail channel.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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