MAWEEKLY · 22 de junio de 2026

Week 25 (2026) in M&A and Private Equity🛰️🇪🇸

Transactions of the Week (June 15 - 21)

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.

• Ufenau has completed the merger of two portfolio companies, Kanalservice Group and Spain-based Grupo SASTI, into a unified entity. The consolidation aims to strengthen market positioning, expand service offerings, and drive operational efficiencies across both firms. By combining Kanalservice’s expertise in technical services with Grupo SASTI’s capabilities in industrial solutions, the merged company seeks to deliver a broader, more integrated portfolio to clients while leveraging shared resources for cost savings and innovation. 1

• Incosa (Waterland) and JG Ingenieros have agreed to merge, forming a leading Spanish engineering group with over 800 professionals. The new entity will strengthen its market position in energy, complex construction, infrastructure, environment, and specialized technical consulting, offering comprehensive services from strategic consulting to operation and digital optimization. Incosa, founded in 1985, brings more than 600 staff, while JG Ingenieros, established in 1970, adds over 150 experts, together expanding capabilities for large‑scale, high‑complexity projects in Spain and internationally. 2

• Ibernova (Kartesia, GTO Partners) has acquired the Catalan firm TAI Smart Factory, which generated €3.5 million in 2025 and employs 44 staff. The purchase expands Ibernova’s reach into the Latin American market, leveraging TAI’s established presence in Catalonia and operations in Colombia that serve plants across the region, including Ecuador, Peru, Panama and Mexico. Combined with Ibernova’s existing businesses (IDS, Sqedio), the group’s workforce will rise to 294 employees. Ibernova, a leader in industrial software with over 4,000 Iberian clients and €30 million in revenue last year, aims to strengthen its end‑to‑end offering, engineering, ERP, MES, WMS, GMAO and its industrial maintenance services. The acquisition adds deep MES expertise for sectors such as automotive, food, pharma and chemicals, enhancing Ibernova’s capacity to deliver comprehensive digitalization solutions while maintaining existing teams and client relationships. 3

• French label maker Labelys has acquired Spain’s Adhesivos Romero García, its fourth Spanish purchase. The target, which employs about 80 staff and operates a 4,000 m² plant, posted €13.05 million in 2025 revenue (up 4% YoY). It will keep operational independence while benefiting from group procurement synergies. Post‑deal, Labelys’ Spanish turnover nears €40 million, and the global group now runs over 20 factories across Europe, employs roughly 1,000 people, and generates about €200 million annually. 4

• ACOMO N.V. announced the acquisition of Citromil, a Spanish family‑owned company specializing in organic citrus fruit sourcing and processing. This purchase expands ACOMO’s organic ingredients segment, strengthening its position in the citrus market. 5

• Grupo Assista, a Spanish services and construction conglomerate originally focused on repairs for insurers and financial entities, has expanded its integrated maintenance business by acquiring Segman, a specialist in maintenance and auxiliary services previously owned by Europ Assistance (Generali). Segman brings 30 years of experience, offices in Madrid, Barcelona and Málaga, and handles over 7,000 work orders annually, generating roughly €6 million in revenue. The acquisition adds capabilities in engineering, HVAC, electricity, and energy efficiency, complementing Grupo Assista’s portfolio of about 50 facility‑service companies. The group already boasts an annual turnover exceeding €100 million and has grown through other purchases, such as Germanía, Felca, and MPS Gestión. Internationally, it operates in Portugal and, after acquiring ADSL House, has extended its presence to Colombia, Peru, and Paraguay, employing around 480 people. 6

• Alantra Private Equity, via its portfolio company AIVORIQ, has acquired two more dental laboratories, expanding the group to over 20 labs across Spain and generating nearly €40 million in revenue since its 2024 investment. The buy‑and‑build strategy has driven double‑digit organic growth and strengthened capabilities in fixed prosthetics, aesthetics, and orthodontics. Owners of the newly acquired labs have reinvested and will stay involved, aligning interests for further expansion. AIVORIQ aims to reach around 30 laboratories in Spain and is exploring international growth in the UK, Germany, and Italy, while advancing industrial and technological initiatives to boost productivity and service quality. 7

• Darlim, a leading Spanish distributor of professional hygiene and cleaning solutions, has acquired Eurochem, a historic chemical manufacturer based in Valladolid. This purchase strengthens Darlim’s presence in north‑west Spain and expands its industrial capacity, bringing the workforce to over 120 employees. The combined company now offers a broader portfolio to sectors such as industry, healthcare, hospitality, and public administration. Darlim’s sales already exceed €44 million, with a target of €50 million by 2027, and the acquisition is expected to generate significant synergies by pairing Eurochem’s technical expertise with Darlim’s commercial and logistical network. 8

• RealTime Reservation has acquired STAY, merging their technologies to form a leading global guest‑experience platform. The combined service now supports over 2,000 properties in more than 75 countries, offering an integrated solution for reservations, housekeeping, revenue management, and guest communications. The acquisition aims to streamline operations for hoteliers, enhance personalization for guests, and accelerate growth through a unified, cloud‑based ecosystem. By leveraging both companies’ data and AI capabilities, the platform promises faster check‑ins, streamlined housekeeping workflows, and improved revenue optimization. 9

• Lãberit, a Valencian technology group, has acquired Gloin, a Caceres‑based software engineering firm specializing in custom web and mobile solutions. The deal adds €1.2 million in annual revenue and a team of 19 professionals skilled in critical development environments such as Flutter, Angular/React, and Java/Spring Boot. Gloin’s revenue share in the financial sector will strengthen Lãberit’s market position. The four current Gloin partners will remain involved, and the brand identity will be preserved. CEO Carlos Pujadas emphasizes that the acquisition brings sixteen years of technical expertise, enabling faster delivery of high‑demand projects and creating high‑value jobs in Extremadura while expanding Lãberit’s regional influence. 10

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