MAWEEKLY · 28 de julio de 2025

Week 30 (2025) in M&A and Private Equity 🛰️🇪🇸

Weekly collection of transactions (July 21 - 27)

• Ambienta, European sustainability‑focused private equity firm, has acquired Agronova Biotech (Magnum Capital), Spanish platform offering over 800 microbial‑based products including biostimulants, biocontrols, and organic fertilisers, marking its first investment in sustainable agriculture and its entry into the Spanish market. Headquartered in Spain with five labs and six production sites across Europe and the Americas, Agronova helps farmers manage biotic (insects, fungi) and abiotic (drought, flooding) stress while reducing chemical inputs.1

• Nazca Capital, a Spanish private equity firm, announced the acquisition of 100% of Teltronic’s capital, marking its inaugural investment from the newly launched Fondo Nazca Aeroespacial y Defensa INNVIERTE I FCR. Teltronic, founded in Zaragoza in 1974, is a global player in mission-critical communications systems, serving sectors like defense, public safety, transport, and infrastructure, with proprietary solutions spanning TETRA, LTE, 5G, and 3GPP MCX. Prior to this deal, the company was owned by a subsidiary of Hytera Communications, the Chinese multinational listed in Shenzhen. 2

• Apave Group (PAI Partners), an international risk management and TIC (Testing, Inspection, Certification) services provider, announced the acquisition of 100% of Spanish company Seitech. Founded in Madrid in 2017, Seitech offers digitised field‑services such as inspection, quality control, and testing using advanced technologies including computer vision, machine learning, remote monitoring, and business intelligence. With roughly 80 employees serving clients across Spain and Portugal, the acquisition accelerates Apave’s strategy under its 2021–2025 plan and marks its 29th deal, reinforcing its presence in the Iberian Peninsula and its telecommunications and energy sector capabilities. 3

Our Q2 M&A reports on software and IT consulting are now available for download.

• Nzyme, a Spanish private equity fund backed by Kibo Ventures, has acquired a majority stake in RB Soluciones, a family-owned legal and compliance consultancy headquartered in Ferrol, Galicia. With around 50 employees, RB Soluciones provides services across data protection, business activity coordination, equality plans, and anti‑harassment protocols, serving over 1,000 property managers, 35,000 homeowners’ associations, and 3,000 companies. This transaction, announced in late July 2025, is Nzyme’s third platform investment, following Equinvest and Dental Ibérica. The founders remain on board. The investment supports RB Soluciones in digitalising operations, professionalising teams, integrating technology, and executing inorganic growth to build a national leader. 4

• Fragadis, a Catalan food retail company, has acquired 100% of Líder Aliment, an Extremadura-based supermarket group operating around 200 stores (including franchises) in Extremadura and Andalusia. Both companies are licensees of the Spar and Eurospar brands. With this acquisition, Fragadis becomes Spar’s top licensee in Spain by revenue, reaching a combined turnover of €700 million, 4,700 employees, and 250,000 m² of sales space**.** 5

• Vallfirest (Suma Capital), an international leader in wildland firefighting technology, completed its acquisition of 100% of Aerial Fire Control, an Australian firm known for the Water Hog helicopter bucket and aerial fire suppression systems. Based in Adelaide and with over 25 years’ experience, Aerial Fire Control’s modular aerial firefighting solutions are deployed across Oceania and more than a dozen countries. 6

• ACS Group, through Electren, has formalized the acquisition of SEGADE SAELCO, S.A., a company specializing in the design, construction, and maintenance of high-voltage power line infrastructure. This operation represents a strategic step forward in expanding the group’s capacity in the development of energy infrastructure in Spain. The integration of SEGADE comes at a time of profound transformation in the energy sector, driven by the ecological transition, digitalization, and the need to modernize the electricity grid. This modernization is key to meeting the growing demand arising from the construction of data centers and new industrial facilities dedicated to the manufacture of semiconductors and batteries**.** 7

• Roca Group has reached an agreement to acquire a majority stake, through its premium-segment subsidiary Laufen, in the Italian firm Antonio Lupi Design, a leading name in bathroom furniture and a symbol of design excellence. This alliance will drive the global commercial expansion of the Italian group, which will maintain its full operational independence and identity while leveraging Roca Group’s international reach. The group reached a turnover of €42 million in 2024 and have 100 employees. Roca Group continues its international growth following the announcement of a €70 million investment to build a new plant in Kazakhstan and the acquisition of the Australian company Phoenix. 8

• Adevinta has signed an agreement to sell its Spanish business, including leading marketplaces Milanuncios, Fotocasa, Habitaclia, InfoJobs, coches.net and motos.net to EQT. The divestment reflects Adevinta’s strategy to refocus on core European markets. Adevinta Spain was formerly controlled by a consortium led by Blackstone and Permira. 9

• Calier, the animal health subsidiary of Catalonia-based pharmaceutical group Indukern, has acquired Tecnofarm, a veterinary company based in Buenos Aires, Argentina. The deal aligns with Calier’s strategy to strengthen its footprint in Latin America and establish Argentina as a regional production and export hub. Founded in 1987, Tecnofarm brings a diverse product portfolio and a national distribution network. 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.