MAWEEKLY · 29 de enero de 2024

Week 4 (2024) in M&A and Private Equity 🛰️🇪🇸

Weekly collection of transactions (January 22 - 28)

• Three Hills Capital has become a strategic partner in the Spanish agrifood tech company Hispatec by acquiring a minority stake. This investment will support Hispatec’s development of new products and expansion into new markets, reinforcing its position in the software and agricultural technology sector. 1

• Satlink, a Spanish company controlled by Belgium-headquartered Private Equity firm Apheon (formerly Ergo Capital), has acquired Xeos Technologies, a Canadian firm specializing in maritime tracking solutions. This move strengthens Satlink’s position as a high-value technology provider for ocean management and sustainability. 2

• The French chemical group Chimiget has acquired the Spanish company Bolsas Castresana, a leader in the manufacturing of high-quality, 100% recyclable bags. The acquisition enables Chimiget to enter the Spanish market with a strong position. 3

• Atresmedia has acquired a strategic stake in PlayFilm, a tech startup that blends interactive video and artificial intelligence to revolutionize digital advertising, focusing on performance marketing. 4

• Spain-based ophthalmology group Miranza, which was created in 2019 by Magnum Capital Partners and currently belongs to Veonet, a Germany-based ophthalmology platform controlled by PAI Partners and the Canadian pension fund OTPP, has expanded its presence in Galicia by incorporating the Gómez-Ulla Ophthalmological Institute, located in Santiago de Compostela. This new center becomes the 24th clinic of the Miranza Group, which now totals 36 centers across Spain and Andorra. 5

• Ehlis, the manager of Cadena 88, has acquired a 45% stake in Indamat Gestión, which manages the BdB Group specializing in construction materials. Ehlis, operating under the Cadena 88 brand, manages 1,600 associated establishments, and Indamat oversees 370 sales points under the BdB brand. Together, they currently have a total of 1,970 points of sale for hardware stores, industrial supplies, and construction materials, which will benefit from new distribution platforms with a total storage capacity of 85,600 square meters. 6

• TravelPerk, a business travel management platform, has secured an investment of over $100 million led by SoftBank Vision Fund 2, along with contributions from existing investors. This new funding will support TravelPerk’s growth, product development, and enhancement through AI automation_._ 7

• PIB Group (Apax, Carlyle) continues rapid expansion in Spain through acquisition of three new companies. AVC, Grupo IDDEAS, and JSC are the latest firms to join PIB Group Espana, bringing the total number of acquisitions in the country to 11. Group is Spain’s 5th largest insurance broker, with over 400 employees in the country.8

• Plukon Food Group, based in the Netherlands, has agreed to acquire the Spanish poultry company Redondo. Redondo, with its facilities across three locations in Spain, including feed mills and a modern slaughterhouse, has a workforce of around 250 employees and achieved revenues of €54 million in 2022. 9

• Aquila Capital has purchased the logistics platform of Kave Home in Tordera, Barcelona, for €100 million. The current 50,000 square meter facility is set to expand to 90,000 square meters. Kave Home, after initially investing €90 million in the construction of this logistics complex, has entered into a long-term lease agreement, freeing resources to expand its corporate headquarters in Sils, Girona. 10

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I am a Partner at IMAP Albia Capital. IMAP is an International Mergers and Acquisitions Partnership with a 50-year track record, more than 450 M&A professionals worldwide and a presence in 41 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.

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