MAWEEKLY · 8 de septiembre de 2025

Week 36 (2025) in M&A and Private Equity 🛰️🇪🇸

Transactions of the Week (September 1 - 7)

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

• MIMPO Global Logistics has completed the acquisition of Iberoforwarders, in what represents its first inorganic transaction in the Spanish market since establishing operations in 2019. With this integration, the company expects to achieve a combined turnover of 40 million euros in Spain by 2025, with a team of more than 60 professionals. ← Albia IMAP acted as MIMPO M&A buy-side advisor 🎉 1

• Corporación Financiera Azuaga and Hyperion Fund have created an MRO holding specialized in executive aviation and integrated maintenance, repair, and operations solutions for both civil and military aircraft. Following the acquisition of Gestair, they have now acquired Brok-air and ATS Aviation, two companies in the sector with an extensive track record in Spain. The new company is born with the purpose of leading the consolidation process in the highly fragmented MRO sector, aiming to become a European benchmark operator both in executive aviation and in comprehensive aircraft maintenance services. 2

• Seaya Andromeda acquires a significant minority stake in Adsmurai to drive international expansion and transform the marketing sector through AI. Adsmurai’s revenues exceeded €100 million in 2024 and are expected to reach €140 million by the end of 2025. Adsmurai digital marketing platform has evolved to become the AI engine of marketing departments within companies, connecting multiple data sources and intelligence systems in a private environment with granular access control.3

• Spanish technology and defense firm Arquimea announced the acquisition of Perseo Techworks, a developer of autonomous underwater vehicles (AUVs). The deal bolsters Arquimea’s portfolio in intelligent loitering munitions and unmanned systems across land, sea, and air. Perseo’s flagship product, S-WISE, is a hybrid, multi-mission submarine capable of Mine Counter-Measures (MCM), Intelligence, Surveillance, and Reconnaissance (ISR), and loitering munition tasks. 4

• Ambienta platform company Babcock Wanson Group acquires ACT Andaluces, expanding its footprint in Spain. ACT Andaluces is a provider of industrial boiler maintenance services in Southern Spain. The acquisition marks Ambienta’s second add-on for its platform company Babcock Wanson Group. 5

• Zunibal, a participated company of Nazca Capital, continues its international expansion by acquiring the Australian company Echoview. Echoview headquartered in Tasmania, is the global leader in hydroacoustic science and analysis software. The acquisition significantly expands Zunibal’s technology portfolio and strengthens its strategic positioning in the development of sustainable marine technologies. 6

• Spanish animal health group Nuzoa has acquired Portuguese distributor Sanifauna LDA, which specializes in veterinary medications, equipment, and supplements, for an undisclosed sum. The deal was supported by private equity firm PAI Partners. In just four years, NUZOA has consolidated its leadership in the Iberian market following the integration of 16 companies. NUZOA is the only operator that covers the entire value-added service chain, including medications, equipment, accessories, consumables, nutrition, digital services, diagnostics, and more. 7

• Proclinic Group (Miura Partners), a full-service provider of solutions for the dental sector in Europe announces the acquisition of Cenger Scandinavia. With more than 1,300 clients, Cenger Scandinavia is one of the main companies in the clinical dental sector and the number one distributor in the dental laboratory segment in Denmark. The transaction reinforces the Group’s strategy of international expansion and European leadership. 8

• Swiss Life Asset Managers has acquired a majority stake in Educare, a Spanish semi-private school network, for around €200 million. Previously owned equally by the Abarca Cidón family (owners of HM Hospitales) and CEO Carlos Madruga, the deal includes eight schools in Madrid with 10,000 students and 700 staff. Educare earns about €70 million in revenue and €18 million EBITDA, with projections of €30 million in five years. The transaction values the company at over 10x EBITDA. 9

• Natra (CapVest), a Spanish private-label chocolate and confectionery specialist, has agreed to acquire Bredabest, a leading Dutch producer of peanut butter and peanut-based ingredients. This union combines Natra’s extensive global platform with Bredabest’s expertise in natural and organic peanut spreads, enriching its sweet spreads portfolio and enhancing supply-chain integration. Founded in 1996, Bredabest will maintain its brand, management team, Dutch operations, and workforce. 10

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