MAWEEKLY · 23 de junio de 2025

Week 25 (2025) in M&A and Private Equity 🛰️🇪🇸

Weekly collection of transactions (June 16 - 22)

• MCH Private Equity has acquired a minority stake in Portugal’s Global Health Company Sanfil Medicina, a leading regional healthcare group operating two hospitals and 16 clinics. The investment, pending regulatory approval, opens Sanfil to external capital, aiming to support its ongoing expansion, including enlarging facilities in Coimbra and Leiria, building a new unit in Beja, launching dialysis centers, and advancing mental health services. Sanfil reports annual revenue of €67 million and EBITDA of €8 million. 1

• Ufenau Capital Partners has launched Provance Education, a new vocational training platform in Spain, through Ufenau VII. Provance combines three leading academies—Depol, Corporepol, and Geopol—specialized in preparing candidates for Spain’s State Security Forces exams. With seven locations and 230+ staff, Provance generates revenue via online courses, in-person training, and proprietary content. The founders remain active leaders and co-invested alongside Ufenau. The group aims to expand its offerings, digitalize further, and grow through acquisitions. 2

• Phoenix Aerospace has acquired 100% of two Spanish aerospace and defense firms, GSEComposystem and Setroson, to form a specialized industrial group. Backed by investors including former Airbus Spain president Fernando Alonso and ex-Gas Natural CEO Enrique Locutura, the company aims to become a national leader through strategic acquisitions. With plans to invest €20–25 million, Phoenix targets rapid growth, doubling revenue in 3–5 years. GSE focuses on ground support equipment, while Setroson supplies testing systems for aviation. Their clients include Airbus and Eurofighter. 3

• Grupo Apex acquired Supermex, a Cádiz-based specialist in corn and wheat tortilla chips, salsas, and seasonings, adding a 1,300 m² production plant and 1,000 m² warehouse with 36 employees. Supermex, founded over 25 years ago using traditional nixtamalization, recorded €5.34 million in revenues in 2024 and expects €6 million in 2025. This marks Apex’s 13th Spanish facility and strengthens its southern industrial footprint while diversifying into the growing Tex‑Mex snack segment. 4

• Atlas Copco Group announced the acquisition of Spain-based Arizaga Bastarrica y Compañía S.A. (“ABC Compressors”), a compressor manufacturer founded in 1943 and headquartered in Eibar, with additional operations in Suzhou (China), India, the USA, and Mexico. ABC Compressors employs 319 staff and specializes in reciprocating gas and air compressors across various applications. In 2024, it generated approximately €84 million in revenue. 5

• London-based Aries Global acquired Barcelona-founded conversational AI startup Hubtype, a WhatsApp official partner since 2018, with a team of 50 and handling over 15 million monthly business–customer interactions. Hubtype’s AI-powered features, such as its “personal shopper,” have driven strong client outcomes, reduced resolution times, higher satisfaction, and new revenue streams which, alongside Azure‑GPT generative AI integrations, helped it boost EBITDA tenfold. 6

• Paris-based Impact Partners fund has made an €8 million minority investment in Grupo Aire Limpio, a Spanish company providing indoor air‑quality and building wellness solutions. Established 26 years ago, the group, with over 140 employees and offices in Madrid, Barcelona, and Santiago de Compostela, doubled its revenue to €17.2 million in 2024 and achieved €2.3 million EBITDA. 7

• Bilbao-based Agaleus has acquired Álava-headquartered Ekinoil, a specialist in industrial and automotive used-oil collection and transport founded in 1997. The deal brings Ekinoil’s four employees into Agaleus and will channel collected oil to Agaleus Valorización’s Zamudio facility for sustainable recycling. 8

• Arteche, Spain-based electric equipment firm, has acquired 100% of Madrid-headquartered RTR Energía—specializing in power‑quality solutions like capacitors, reactors, and harmonic filters—in a bid to strengthen its grid‑reliability business. RTR brings a 10,000 m² production facility, 73 employees, and an international footprint across 70+ countries. The deal aligns with Arteche’s 2024–2026 strategic plan “Energizing Futures Together,” which targets 10% annual organic growth and expansion in energy‑storage and renewables markets, following its 10% stake in Finland’s Teraloop. 9

• Puig’s family, via Masats Coloring (Flamasats division), has acquired Dunsa (Distribuidora Universal) in La Garriga (Barcelona). With 30 years of experience, Dunsa produces Instant-brand glues and adhesive sticks and Playcolor markers, exporting to over 40 countries. Its 2023 revenue was €5 million. This is the second acquisition in 2025, after Girona-based Additio Ediciones. Flamasats, home to Clipper lighters and Alpino pencils, reported €144 million revenue and €20 million profit in 2023.10

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I am Fran Hidalgo-Barquero, a Partner at Albia IMAP. IMAP is an International Mergers and Acquisitions Partnership with a 50-year track record, more than 500 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.