MAWEEKLY · 14 de julio de 2025

Week 28 (2025) in M&A and Private Equity 🛰️🇪🇸

Weekly collection of transactions (July 7 - 13)

• Miura Partners has announced its entry into Grup PMP, a company specialized in industrialized residential construction, through a capital increase carried out by its impact fund, Miura Impact Fund. With this transaction, the private equity firm reinforces its commitment to strategic sectors with a clear environmental impact, such as industrialized construction.1

• Aminolabs Nutrition Expands European Footprint with Strategic Acquisition of Zoka Pharma. Based in Valencia, Zoka Pharma brings a product portfolio and enhanced production infrastructure to Aminolabs, allowing the group to diversify its offerings with new categories such as gels, liquids, probiotics, infant nutrition and pet supplements. The combination also boosts Aminolabs’ production capacity in core formats like tablets, capsules and stick packs, strengthening its ability to meet rising demand with speed and flexibility. Zoka Pharma generates turnover of €11 million from two state-of-the art facilities,supported by approximately 50 employees and only 30% of its production capacity currently utilized. 2

• Areas (PAI Partners), a global leader in travel dining and retail, has reached an agreement with Delaware North to acquire its United States-based airport food, beverage, and retail business, Travel Hospitality Services (THS). As part of the agreement, Areas will take over the management of 237 THS locations across 22 U.S. airports, supported by a team of 4,000 employees and generating over $500 million in annual revenue. On a global scale, Areas will now generate over $3 billion in annual revenue, with 2,200 points of sale and 24,000 employees across 11 countries. 3

• Roca Group announced acquisition of Melbourne-based Phoenix Tapware, a leading Australian designer of mid- to high-end faucets and showers. Phoenix, with more than 30 years’ expertise, generated €35.4 million revenue in 2024 and operates two sites in Melbourne and one in Balcatta (Perth). Roca says the deal strengthens its tapware division and deepens its foothold in Australia, where its Roca and Laufen brands are already sold. 4

• Parcel locker firm InPost, opens new tab has acquired Spanish delivery company Sending to enhance its presence in the Iberian Peninsula and integrate the 24-hour door-to-door delivery service previously provided by Sending. InPost, which has built a stronghold in its home market Poland, has been gaining traction abroad. The Sending deal is the latest example of its strategy of pan-European expansion, following the acquisition of Yodel in Britain earlier this year. 5

• Repsol acquired 70 % of Seville-based electricity and gas retailer ODF Energía. ODF will retain its brand, leadership and 22,000-strong corporate-customer portfolio in Spain and Portugal, becoming Repsol’s new B2B supply platform. Repsol, already serving 2.7 million Iberian power and gas customers, says the deal fast-tracks its push for business accounts after earlier purchases of CHC Energía, Gana Energía and other small portfolios. 6

• Navarra-based EPER Metallic Solutions (Stellum, Amixalan) has acquired 100 % of Talleres Mecánicos Codesal, a 40-year-old company in Cabanas (A Coruña) that makes precision metal parts for naval and defence clients. It is EPER’s third Galician acquisition in a year, after taking over TMG and Insder in July 2024, and follows investment from Amixalan Group and Stellum Growth. Adding Codesal gives EPER four production sites, about 200 staff and combined turnover near €32 million, with 18,000 m² of workshops and 25,000 m² of logistics space. 7

• Bioarray, a Spanish diagnostic and research laboratory specializing in advanced genetic testing, is pleased to announce its integration into CERTANIA (Greenpeak Partners), a dynamic group specializing in Testing, Inspection, and Certification (TIC) services. CERTANIA provides a platform for mid-sized, knowledge-based companies to thrive under one umbrella, maintaining entrepreneurial freedom while benefiting from group resources and support. 8

• Frozen-bakery group Europastry (MCH) reported first-half sales up 12 % to €1.5 billion and EBITDA up 15 % to €236 million, and announced buying 60 % of Bangkok-based Art of Baking. Founded in 2018, the Thai firm makes croissants, flatbreads, pizza bases and other bakery products, exporting to Japan, the Philippines and Singapore from a 15,000-tonne plant that can double capacity. Minor International and Srifa Bakery keep 20 % each. The addition of about 200 staff widens Europastry’s South-East Asian reach, giving it 27 plants in 80-plus countries and 90,000 clients. 9

• ASSA ABLOY said it had bought Barcelona-based Calmell, a manufacturer of smart cards, contactless paper tickets and magnetic fare media founded in 1920. Calmell employs about 100 people and booked roughly €29 million in 2024 sales. The company will become part of HID’s Identification Technologies division. CEO Nico Delvaux called the deal “an exciting technological addition” that strengthens ASSA ABLOY’s public-transport ecosystem and offers complementary growth.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.