MAWEEKLY · 4 de agosto de 2025

Week 31 (2025) in M&A and Private Equity 🛰️🇪🇸

Transactions of the Week (July 28 - August 3)

Hi, I’m Fran Hidalgo-Barquero, Partner at Albia IMAP. This is a weekly newsletter covering M&A and Private Equity transactions in Spain.

This is the last issue of M&A Weekly until the summer recap by the end of August.

Enjoy! 🏖️

• Indra Group, a leading Spanish technology and defense services company, has completed the acquisition of Aertec Defence & Aerial Systems (DAS), the unmanned aerial systems division of Aertec Solutions. Aertec DAS is known for its TARSIS medium-sized tactical UAS (up to 150 kg), already tested by the Spanish Armed Forces and poised for broader adoption across Europe. The transaction supports Spain’s bid to compete in Europe’s €800 billion ReArm Europe defense initiative, and marks the integration of 46 skilled professionals and proprietary UAS engineering capabilities into Indra.1

• ESTEVE acquired Regis Technologies, a U.S.-based CDMO headquartered in Chicago, marking ESTEVE’s first physical footprint in the United States. Regis, founded in 1956, brings over 65 years of API experience, covering process R&D, analytical and stability services, cGMP manufacturing, CMC support, and proprietary chromatography products. The acquisition adds approximately 70 skilled professionals to ESTEVE’s global team and expands its small‑molecule API capabilities across the entire development lifecycle—from pre‑clinical through commercial production. 2

• GPF Partners has sold SOMOS Experiences, corporate events agency, to a group of investors led by Jaime Castellanos and Joaquín Güell. Formed via the merger of EDT, UNIT Elements, and Efímero (orchestrated by GPF since its 2018 entry), SOMOS has tripled sales to €70 million in annual revenue and €10 million EBITDA. It serves top-tier clients like Telefónica, Santander, and Iberdrola. This is one of two GPF divestments last week, alongside the sale of Imedexa to Semapa, a diversified Portuguese industrial group. Imedexa specialises in metal structures for electricity transmission. Imedexa, founded in 1979 with production facilities in Cáceres and Valladolid, recorded over €100 million in 2024 sales, 75% of which came from exports across 50+ countries. 3

• Sodexo has signed a share and purchase agreement to acquire Grupo Mediterránea (Portobello Capital), a leading Spanish food service provider active in Spain, and with operations in Portugal, Chile, and Peru, serving over 265,000 meals daily across 1,700+ sites, generating approximately €350 million in revenue, and employing over 14,700 staff. The acquisition will double Sodexo’s presence in Spain, bolstering its leadership in healthcare, education, and corporate catering. Portobello Capital, which initially invested in Grupo Mediterránea in 2009, exits as part of the transaction. 4

• Australia-based IFM Investors agreed to acquire a 75% stake in Air Rail, Spain’s leading ground support equipment (GSE) owner and operator, serving over 50 European airports with a fleet of 4,000+ units, 70% of which are fully electric. Air Rail’s founder, José Manuel García Prieto, retains a 25% share. The deal, expected to close later in the year subject to regulatory approval, strengthens IFM’s infrastructure presence in Spain and complements its €10 billion+ investment footprint in the country. 5

• Keensight Capital, a European growth buyout firm, has signed an exclusivity agreement to partner with UVE Solutions, an AI-powered route‑to‑market data intelligence platform for the consumer-packaged goods (CPG) sector. Founded in 2007 near Barcelona, UVE aggregates data from over 7,000 distributors and POS systems to serve top-tier brands such as Coca‑Cola, Danone, Mahou, GB Foods, and Unilever. Keensight aims to support UVE’s international and vertical growth through capital, expertise and M&A. 6

• Global Factor, a Spanish sustainability and climate consultancy backed by Nazca Capital, has acquired the Public Consultancy division of OCA Global, which advises EU institutions, development banks, and governments. This strategic acquisition strengthens Global Factor’s international reach and technical depth in energy, climate, and social development. It follows the recent acquisition of EDE Ingenieros and is part of a broader inorganic growth plan to double revenue by 2028. The integration is expected to boost revenue by 60% in 2025, reaching €30 million. The acquired team, active in 50+ countries, will operate under the Global Factor brand. 7

• Areyhold, family office based in Madrid, has acquired a 49% stake in Madrid-based artisanal bakery Pan.Delirio and its baking school Materia, both founded and majority-owned by the Cocheteux family, who will retain operational control and creative leadership. The deal supports Areyhold’s strategy to diversify its investment portfolio and strengthen its presence in the gourmet sector, backing a well-established brand with national and international growth potential. Pan.Delirio currently operates three stores in Madrid and has product placements in Sánchez Romero and El Corte Inglés. 8

• Schmidt Groupe, the French player in custom kitchen and interior design (operating under brands Schmidt and Cuisinella), has acquired a majority stake in CUBRO Design, a Spanish digital-native startup founded by Jorge Álvarez‑Cienfuegos and Jaime Pont. CUBRO offers an innovative online platform for customizing kitchen fronts, targeting a young, urban audience via digital channels. 9

• Paniza Industrial Partners, together with a small group of co-investors, has acquired a majority stake in Zewatech. Zewatech is a Spanish company in the design, manufacturing, and supply of industrial water treatment solutions. The company is a pioneer in developing innovative technologies that help industries reduce wastewater discharges and reuse captured water, while also lowering energy and chemical consumption and minimizing the environmental impact of industrial activity. 10

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