MAWEEKLY · 20 de julio de 2026

Week 29 (2026) in M&A and Private Equity🛰️🇪🇸

Transactions of the Week (July 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.

• Magnum Capital has acquired a majority stake in Regenera Levante, linked to the Murcian group Urdecon, to form a new Spanish electrification and energy infrastructure group. The goal is to reach €100 million in revenue this year, leveraging Regenera’s strength in port electrification, allowing docked ships to shut down diesel engines and connect to shore power, and its involvement in green hydrogen projects. Regenera currently generates about €12 million and will serve as the core of the emerging group, which will also incorporate complementary companies in electric interconnections, data centers, renewable parks and battery storage. 1

• Mirai Investments has acquired Reco, a Biscay‑based electroplating specialist, integrating it into its metal‑finishing division, Innometal. Reco, with over 40 years of experience, 60 employees, €14 million in 2025 revenue, and facilities spanning 5,000 m², offers a wide range of surface‑treatment services for electrical, automotive, and manufacturing sectors. The acquisition strengthens Innometal’s capabilities, adds synergies to Mirai’s industrial portfolio, and deepens its presence in the Basque industrial ecosystem. Innometal now employs more than 700 people, generates around €120 million annually, and operates 15 facilities. Mirai’s broader group also includes the electronics division Ohmnia, cosmetics platform Labery, and new ventures in environmental services and the circular economy, while continuing investments in healthcare and fashion. 2

• Fourthline and Veridas are merging to create a global, bank‑grade identity and compliance platform that combines Fourthline’s sovereign AI‑driven KYC/AML orchestration with Veridas’s proprietary anti‑fraud, biometric, and identity‑verification technology. The joint entity will serve Tier‑1 banks, fintechs, insurers, telecoms and other regulated businesses across Europe, the United States and Latin America, offering a modular, API‑first solution covering identity verification, AML screening, electronic signatures, bank‑account verification and biometric authentication. Both companies remain profitable and EBITDA‑positive, projecting 115 million verifications this year in over 50 countries. 3

• Tikedo, a leading Southern‑European label group with over €100 million in revenue, announced the acquisition of Spanish adhesive‑label producer Mesones Artes Gráficas through its subsidiary Etiquetas Adhegrafic. Mesones, based in Córdoba and operating for more than 40 years, generated over €6 million in 2025 and supplies labels for olive oil, food, and personal‑care markets. The deal marks Tikedo’s fifth Spanish operation, boosting its presence in Andalusia and aiming for €20 million in Iberian‑peninsula turnover across four production sites. 4

• Áreas (PAI Partners), a Spanish travel‑restaurant group based in Esplugues de Llobregat (Barcelona), announced the acquisition of the UK concession business TRGC, the restaurant division of The Restaurant Group. The deal gives Áreas control of 38 outlets across ten British airports, operating brands such as Wagamama and Giraffe, and adds €240 million in annual revenue. The purchase expands Áreas’ presence in the United Kingdom, the second‑largest European market for airport, train‑station, and highway dining. The company aims to reach €3 billion in turnover; it reported €2.264 billion in sales and €250 million EBITDA last year and projects €2.7 billion in revenue for 2026. The transaction follows Áreas’ earlier acquisition of the U.S. firm Travel Hospitality Services (THS). 5

• BHM Group has completed the acquisition of Spain’s Tedisel Medical, integrating it into its medtech holding, Reinsberg Group. Founded in 1995 in Badalona, Tedisel employs about 70 people and manufactures intensive‑care, operating‑room, and ward equipment, with products used in over 80 countries and a strong presence in Latin America. The purchase adds a new European production base and expands Reinsberg’s portfolio, enabling more comprehensive solutions for hospitals and strengthening its position in complex projects. This move aligns with BHM’s strategy to grow Reinsberg through targeted acquisitions of manufacturers that bring know‑how, production capacity, and international reach. 6

• Lappí Labels & Flexible Packaging has acquired Portuguese flexible‑packaging specialist Alembic, strengthening its Doypack and Flowpack capabilities. Alembic, based in Elvas, will retain its current management and adds expertise in films, vacuum and shrink bags, high‑barrier containers, and other flexible formats. The deal expands Lappí’s portfolio—now covering labels, sleeves, wrap‑around and flexible packaging—for food, beverage, pet, cosmetics, hygiene and home‑care markets. Lappí projects organic sales of €65 million in 2026; with Alembic, combined sales are expected to exceed €70 million. The group grows to six companies, seven production sites, about 390 employees, and roughly 60,000 m² of manufacturing space across Spain and Portugal. 7

• Var Group, an Italian digital solutions firm under the Sesa group, has acquired Solver, a Valencia‑based company specializing in AI, data analytics, and machine learning for business process optimization. Solver, founded in 2016 as a spin‑off from the Universitat Politècnica de València, employs 26 professionals and generated roughly €1.5 million in revenue with an EBITDA of €350 k in FY 2025. The acquisition supports Var Group’s international growth and its plan to create a European AI excellence centre. Var Group reported €875.7 million in revenue and a workforce of 4,243 as of April 2025, operating in 16 countries. 8

• Badi and Caterina have merged to form Spain’s leading flex‑living platform. The combined entity aims to dominate the flexible housing market by leveraging Badi’s technology and Caterina’s network of properties, offering a seamless solution for short‑term rentals, co‑living, and temporary accommodations. The merger is positioned as a strategic move to accelerate growth, enhance user experience, and expand market reach across Spain and potentially into other European markets. 9

• Flax & Kale sold an 80% stake in its prepared‑meals division, Healthy Food Solutions, to the newly created Montarto Foods, while retaining a 20% share. The deal gives Montarto Foods control of a platform focused on refrigerated ready‑to‑heat dishes, backed by founder Pere Mañé Arcos and Cornerstone Partners, and aligns with Amixalan Business Group’s strategic investment. Montarto Foods plans to fund acquisitions with an initial €10 million, potentially rising to €25 million, aiming for €60 million in sales within five years; Healthy Food Solutions targets €17 million this year. 10

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