MAWEEKLY · 20 de abril de 2026

Week 16 (2026) in M&A and Private Equity🛰️🇪🇸

Transactions of the Week (April 13 - 19)

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.

• Tresmares Capital has invested in Greenkeeper, a Spanish company specializing in air filtration products, which has experienced significant growth and aims to expand internationally while developing new products. Greenkeeper produces absorbers for ethylene, moisture, corrosive gases, and oxygen, exporting over 80% of its sales to more than 60 countries.1

• Travelgate, part of the Travelsoft Group, has acquired AO UK Ltd to enhance its hotel distribution platform with enterprise content orchestration. This acquisition adds over 20 years of expertise, allowing sellers to manage content quality and buyers to receive consistent, ready-to-sell content. AO Campaign 5 introduces AI-powered operations, including workflow automation and multilingual publishing. The collaboration aims to unify hotel inventory movement and content quality, establishing a fully integrated distribution stack across the travel industry. 2

• Fracttal (Riverwood Capital), a global AI-driven maintenance solutions company backed by several private equity funds, has acquired TCMAN, a leading Spanish maintenance management solutions provider. This acquisition combines TCMAN’s expertise and customer base with Fracttal’s technology, which manages over 20 million assets across more than 60 countries. The integration aims to enhance intelligent maintenance solutions, leveraging AI and IoT technologies to improve efficiency in asset-heavy sectors. The move follows Fracttal’s recent $35 million funding round, aimed at boosting AI capabilities and expanding in Europe and Latin America. 3

• AG Olives, backed by the Escalante family and Alantra Private Equity, has unified its companies under the Arvos brand and acquired Belgian firm Père Olive from Labeyrie Fine Foods. This acquisition allows Arvos to enter the refrigerated Mediterranean products segment, enhancing its offerings of olives, antipasti, and dips. With a reported 2025 revenue of €350 million and operations in over 80 countries, Arvos aims to solidify its position as a leading reference in table olives globally while expanding into adjacent high-value Mediterranean categories. 4

• Hevo Group has acquired Granjas Villarreal, adding 730,000 laying hens and EUR 30m in revenue, thereby enhancing its position in the Spanish poultry sector through a buy-and-build strategy. 5

• Monbake (CVC) has acquired Triticum, a premium bakery company specializing in high-end hospitality products, enhancing its position in the frozen bakery sector with a turnover of over €10 million in 2025. 6

• Japanese company Marubeni Corporation has acquired an 85% stake in Factorenergia for EUR 204 million, enhancing its presence in the Iberian Peninsula and Latin America, while Factorenergia continues to lead in customer-focused electricity services and renewable energy solutions. 7

• Embamat has acquired Garobel, a specialist in cardboard packaging, to enhance its presence in the Basque Country and strengthen its industrial packaging solutions, integrating Garobel’s team and facilities to maintain its focus on innovation and customer relations. 8

• Suma Capital has invested in ECOcero, a Spanish company specializing in acoustic solutions, through its SC Sustainable Expansion Fund III. This marks the fund’s first investment, aimed at supporting ECOcero’s growth, international expansion, and organizational strengthening. Founded in 2017, ECOcero, which operates in 20 countries, focuses on innovative acoustic solutions made from recycled plastic. 9

• Homs Rentals (VGO) is expanding through acquisitions, having recently acquired three Madrid-based companies, which is expected to increase its turnover by over 40% from EUR 34 million reported in 2024, primarily financed through bank debt with CaixaBank leading the arrangement.10

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