MAWEEKLY · 1 de abril de 2024

Week 13 (2024) in M&A and Private Equity 🛰️🇪🇸

Weekly collection of transactions (March 25 - March 31)

• Ardian, Alantra, Artá, and Landon have agreed to sell their stake in Monbake to CVC. Monbake Group has consolidated its position as one of the three main producers and distributors of frozen dough at national level. Monbake was created in February 2018, when Ardian bought the companies Berlys and Bellsolá. 1

• The Sociedad Estatal de Participaciones Industriales (SEPI) has acquired a 3% stake in Telefónica, aiming for a maximum of 10% as directed by a Council of Ministers’ agreement. According to SEPI, this acquisition contributes to Telefónica’s shareholder stability and supports its strategic interests, highlighting Telefónica’s role in telecommunications and its importance for national security and defense. 2

• Adam Foods, part of the Ventura family’s conglomerate and known for brands like Cuétara and Artiach, has acquired a majority stake in Artesanies Carlit, a company specializing in ‘trinxat’, a traditional Pyrenean Catalan dish. This addition to Adam Foods’ culinary division, which includes La Piara pâtés and Aneto broths, aims to complement its existing product range. 3

• Seville-based industrial automation company, AND&OR announced the acquisition of ICEBEL, a leading Portuguese company specializing in machinery and technologies for the Glass Industry. This integration will enable the Group to offer wider range of solutions, increasing its manufacturing capacity to address the growing demands of the market and provide greater value to its customers.  4

• Formula One owner closes in on €4bn deal for MotoGP. Liberty Media in exclusive talks to buy Dorna Sports, the Madrid-based company behind the motorcycle racing series. Private Equity firm Bridgepoint, which has been a Dorna shareholder for 18 years, owns about 40 per cent of the business that it bought at an enterprise value of €550mn in 2006. The CPPIB bought its 39 per cent stake in Dorna from Bridgepoint in 2012. 5

• Tecro joins Innometal Group (Mirai Investments), leading industrial group in comprehensive metal manufacturing and assembly solutions. Founded in the 90s and based in La Rioja, Tecro Spaces has specialized in the design of mezzanine solutions for the use of space where the floor area is scarce or can serve different uses. 6

• Repsol and Bunge create a partnership in Spain to boost supply of renewable fuels. Through this strategic agreement, the multi-energy company Repsol acquires 40% of three industrial facilities that are part of Bunge Iberica, one of Bunge’s subsidiaries in the Iberian Peninsula, for a total amount of $300 million plus up to $40 million in contingent payments. 7

• Canada-based Premier Tech announced the acquisition of Aquatreat by its Water and Environment business group. Based in Ripollet, Spain, Aquatreat specializes in the manufacture and maintenance of domestic and industrial wastewater treatment systems. 8

• TEG (Tecno Elèctric Girona) has entered the shareholding of Altero Recycling Machinery, a Spanish manufacturer specializing in granulating lines for mechanical plastic recycling. This partnership, aimed at bolstering Altero’s sustained growth and industry solidity, will support its international expansion and foster industrial synergies to enhance product quality and innovation. 9

• Spanish tech company Facephi and the Korean conglomerate Hancom Group have announced plans to enter into an agreement encompassing, on one hand, an investment of five million euros in the Alicante-based listed company and, on the other, an exclusive distribution agreement for Facephi’s products in the APAC (Asia-Pacific) region.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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