MAWEEKLY · 26 de enero de 2026

Week 4 (2026) in M&A and Private Equity🛰️🇪🇸

Transactions of the Week (January 19 - 25)

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.

In case you missed it: 2025 recap in M&A and Private Equity 🛰️🇪🇸

• Destinia, Spanish online travel group, has acquired the UK-based brands Travel Republic and Netflights. This acquisition strengthens Destinia’s presence in the competitive UK tourism market and enhances its global expansion strategy. Both brands have high ratings on Trustpilot, reflecting their strong positioning and reputation among British consumers. The move allows Destinia to offer tailored products and services to UK travelers while promoting operational synergies for growth.1

• Prysmian will acquire Vigo-based ACSM for €169 million to enhance its global leadership in submarine cable solutions. This acquisition will integrate subsea surveying, route planning, and seabed preparation, strengthening Prysmian’s offerings for energy and telecom customers. ACSM brings over 20 years of experience, three dedicated vessels, and a suite of specialized equipment, complementing Prysmian’s capabilities and expertise in offshore renewable energy and installation processes. 2

• Molins has acquired 90% of Toledo-based Zenet, enhancing its prefabricated concrete solutions for residential construction. This acquisition adds a production plant in Toledo with a capacity of 45,000 m²/month and a team of 50 specialists. Zenet, founded in 2007, focuses on residential, industrial, and civil engineering projects. This move aims to improve efficiency and respond to market demands, marking Molins’ third acquisition in prefabricated solutions, following purchases in Portugal and Southeast Europe. 3

• Ebro Foods has completed the acquisition of 100% of Bertagni, Italy’s oldest filled pasta brand, by purchasing the remaining 30% for €112.5 million. Ebro initially acquired 70% in 2018 and has since helped Bertagni grow its sales from €70 million in 2017 to €182 million in 2024. Bertagni is a key supplier for Mercadona and has expanded its international presence, with 90% of its business outside Italy. This acquisition strengthens Ebro’s position as the second-largest producer of fresh pasta globally. 4

• Jungle has acquired Rocket, a digital marketing and technology consultancy, marking its fifth acquisition in two years. The integration will enhance Jungle’s ability to scale digital projects and is expected to push its sales beyond €80 million by the end of 2026. The founders of Rocket will continue leading the company under its brand. This acquisition emphasizes Jungle’s growth strategy and aligns with their vision of combining creativity and technology for impactful digital projects. 5

• PHI Industrial, a fund specializing in the active management of industrial companies, has acquired Verot and Industrias del Conformado, strengthening its presence in the laser cutting, folding, and industrial boilermaking sectors. Verot, based in Asturias, reported over €34 million in sales and nearly €7 million EBITDA in 2025, with a workforce of 180. This acquisition complements PHI’s 2024 investment in Teknicalde, aiming to expand operational reach and create industrial synergies while maintaining the autonomy of both firms. 6

• Adam Foods has acquired the Moroccan Biscoland’s assets from Holmarcom, including a nearly new factory near Casablanca. This acquisition strengthens Adam Foods’ presence in North Africa and aligns with its international growth strategy (in 2023 acquired its first company abroad, in Poland). The factory has advanced production technology and three production lines. Adam Foods, which employs 3,000 people across multiple plants, owns brands like Cuétara, Artiach, La Piara, Panrico or Aneto and operates in 75 countries. 7

• Tennants Distribution has acquired Apliclor Water Solutions, a prominent Spanish supplier in the water treatment industry. Founded in 1911, Apliclor employs over 100 people and offers modern distribution and manufacturing capabilities. This acquisition enhances Tennants’ European distribution network and technical expertise, emphasizing safety, quality, and customer service. Both companies aim to build on Apliclor’s success while maintaining its culture and values. 8

• Grupo Pimesa, a Vitoria-based industrial company, has acquired a majority stake in Electricidad Gorosabel, a company specializing in industrial automation and the manufacture of electrical control cabinets. This move follows Pimesa’s own significant restructuring in 2022, when it was acquired by a consortium of investors. While often identified with the holding firm Induhold, Pimesa’s ownership group also includes Kaizaharra, IAZ, and Dularra, who jointly purchased the Alavese company. This acquisition, part of Pimesa’s strategic plan, aims to enhance its market position and competitiveness, particularly in renewable energy and electrical engineering services. Following this deal, their combined revenue will exceed €30 million, with a workforce of 160 employees. 9

• AD Ports Group has acquired 100% of Balenciaga Astilleros for €11.2 million, enhancing its presence in Spain and the Mediterranean. Located in the Basque Country, the shipyard, now named Balenciaga Shipyard, boasts nearly a century of naval construction experience and advanced infrastructure. It specializes in building Service Operation Vessels (SOV) for offshore wind farms. This acquisition aligns with AD Ports Group’s strategy for international expansion and aims to create over 50 skilled jobs while supporting the transition to clean energy.10

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