MAWEEKLY · 23 de marzo de 2026

Week 12 (2026) in M&A and Private Equity🛰️🇪🇸

Transactions of the Week (March 16 - 22)

Hi, I’m Fran Hidalgo-Barquero, Partner at Albia IMAP. This is a weekly newsletter covering M&A and Private Equity transactions in Spain. Contact: Email, LinkedIn.

• Vicky Foods has acquired the iconic bakery brand Panrico, reinforcing its leadership in the bread market in Spain and Portugal. This strategic move enhances Vicky Foods’ production capacity and aligns with its internationalization efforts. The integration of Panrico, which generated over €23.8 million in revenue, strengthens Vicky Foods’ bread category, a key growth area. 1

• MCH Private Equity has restructured its 20.7% stake in Europastry by launching a new continuation fund led by Ares Management, acquiring shares from Partners Group. This investment, totaling €300 million, aims to extend MCH’s involvement since 2011. Additionally, MCH has strengthened its presence on Europastry’s board following the departure of independent member Montserrat Trapé, with Pablo Ruiz de Velasco joining the board. The current board now includes six members, with Jordi Gallés as president and majority shareholders owning 76.27% of the company. 2

• Adapta Capital has acquired the Catalan company MAC Group to enhance its modular structures and temporary spaces sector. This integration into IRMARFER, which Adapta acquired in 2025, aims to strengthen their end-to-end solutions for events, enabling larger and more complex projects. Both companies employ 300 people and aim to double their combined revenues of over €30 million within three to five years. The acquisition allows for enhanced design and interior architecture capabilities, improving the overall client experience in the growing temporary structures market. → Albia IMAP acted as MAC Group M&A sell-side advisor 🎉 3

• Medisolve, a key player in European healthcare with revenues over €180 million, has acquired a majority stake in CEDYT, a Zaragoza-based company specializing in diagnostic imaging equipment repair. This acquisition enhances Medisolve’s integrated maintenance services for over 3,600 devices in Italy and Spain. CEO Angelo Maresca emphasized the strategic importance of diagnostic imaging, while CEDYT’s CEO, Roberto Sanjuan, expressed excitement about the partnership and shared ambitions. 4

• Nexxus Iberia has acquired Shop&Roll from Buenavista Equity Partners, enhancing its strategy to become a leader in shopping transport solutions. Shop&Roll specializes in innovative and sustainable shopping carts and baskets, boasting over 40 years of experience. This merger aims to achieve over €100 million in revenues within three years, primarily through growth in Europe and the Americas. Buenavista will continue its focus on visual merchandising through its OM Retail brand after divesting its shopping transport division. 5

• Nazara Technologies UK Limited has acquired a 50% controlling stake in Bluetile Games S.L. and BestPlay Systems S.L. for USD 100.3 million. Bluetile offers popular casual mobile games with 375 million downloads and 22 million monthly active users. BestPlay enhances user engagement with 2.2 million monthly active users. The acquisition aims to leverage AI for game development and distribution, enhancing Nazara’s global gaming platform. The deal includes performance-linked earn-outs, aligning future payouts with the companies’ revenue and EBITDA targets. 6

• Iberconsa (Platinum Equity) has sold its 37.5% stake in Protea Productos del Mar to focus on its core business in fishing. This sale does not involve external capital, as the shares were acquired by existing partners. Iberconsa aims to enhance its fleet and operations, having recently acquired two vessels. Despite the sale, the company remains linked to Protea and its subsidiaries, continuing their role as key cold storage suppliers in Galicia. In 2024, Iberconsa was the second largest Spanish fishing company by volume, with significant sales revenues. 7

• Dutch security systems company SmartSD is expanding into Spain by acquiring two Valencia-based firms, Hommax and Securimport, boosting its annual business in the region to over €25 million. SmartSD plans to establish regional offices in Madrid and Barcelona to enhance customer service and expand its offerings, which include security cameras, intrusion systems, and fire detection. 8

• The Grafton Group is set to acquire the Spanish company Componentes Eléctricos Mercaluz for €175 million, pending approval from the CNMC. This acquisition will double Grafton’s presence in Spain, building on its previous purchase of Salvador Escoda. Mercaluz reported revenues of €150 million in 2025 and will operate independently under Grafton’s management, aiming to strengthen their foothold in the Iberian climate control market. 9

• Vall Companys has acquired a 20% stake in La Selva through a capital increase, following its previous purchase of 40% of Julián Martín. This acquisition strengthens their long-standing supplier relationship and stabilizes the supply chain. Although it is a minority stake, La Selva will maintain its independence in decision-making. This capital injection aims to ensure financial stability amid uncertain market conditions, particularly due to international trade restrictions related to African swine fever. Vall Companys reported record revenues of €4.163 billion last year. 10

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