MAWEEKLY · 5 de octubre de 2026

Week 40 (2026) in M&A and Private Equity🛰️🇪🇸

Transactions of the Week (September 28 - October 4)

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.

• Knowmad Mood announced the acquisition of 100% of CDA Informática, an Argentine tech firm with over $22 million in 2025 revenue, $6 million EBITDA, and more than 500 staff serving 70+ major clients, especially in banking. The deal expands Knowmad Mood’s delivery platform across Argentina, Mexico, Uruguay, Chile and Peru, boosting its Latin‑American presence and adding a delivery hub for international projects. This is the company’s ninth acquisition since 2022 and its largest to date, bringing the group to over 3,500 professionals. The transaction supports Knowmad Mood’s 2025‑2028 Strategic Plan, targeting €550 million revenue and €48 million normalized EBITDA by 2028, and aims to increase international business to 25% of total revenue.1

• Adsmurai, backed by Seaya, has acquired Italy‑based digital marketing agency Ciaodino to boost its presence in the Italian market and accelerate its international expansion. Ciaodino, with a 30‑person team and a client roster that includes MC2 Saint Barth, Alpitour, Scholl and Verti, managed €22 million in ad spend in 2025 and aims for €28 million in 2026. The deal combines Adsmurai’s proprietary technology, AI (Kata), data and global scale with Ciaodino’s local expertise, market knowledge and business development capabilities. 2

• Goros Investments, a Spanish deal by deal firm, has acquired a majority stake in Auxitel, a cable‑manufacturing company founded in 1988. Auxitel, which serves defense, aerospace, telecom, rail, transport, and energy sectors worldwide, posted €16 million in revenue and €2‑3 million EBITDA in 2025, employing over 190 staff. The deal keeps CEO Juan de Dios González as a minority shareholder and operational head. With new 5,500 m² facilities in Alcalá de Henares, Auxitel aims to double its size within two to three years, leveraging a strong order book and expanding European defense and infrastructure spending. 3

• RNB, the Valencian manufacturer behind many of Mercadona’s cosmetics, has acquired a 52.06% stake in Madrid‑based 3INA Cosmetics, a brand known for online sales, social‑media presence and eco‑friendly makeup. The deal, financed through debt‑to‑equity conversion (≈€2.44 M) and a €2.5 M capital increase, involved a total investment of about €4.5 M. 3INA adds a business worth roughly €20 M, half of which comes from outside Spain, to RNB’s portfolio. RNB, founded in 1989 by pharmacists Vicente Ruiz and Romualdo Bertomeu, posted €302 M consolidated revenue last year and plans a €100 M investment by 2030 to expand its Valencia production site and grow its workforce to 2,000 employees. International sales currently represent only 6.75% of its volume, highlighting the strategic importance of the acquisition for global expansion. 4

• MSA Mizar has acquired 100% of Sejescar, a Spanish firm specializing in property claim handling and electrical damage repair. The deal strengthens MSA Mizar’s presence in Spain, where Sejescar will operate as a business line of Veta+, MSA Mizar’s property claim unit. Sejescar, founded 37 years ago, employs over 1,500 specialists and offers the widest technical assistance network in Spain for appliance electrical repairs, serving insurers, utilities, and telecom operators. CEO Jesus Aguirre joins MSA Mizar’s Spanish management committee. This acquisition is MSA Mizar’s eleventh since Columna Capital and TowerBrook entered the shareholding, following a 12% growth in 2025 and handling over one million claims annually across six European countries. 5

• Indra Group announced the acquisition of Barcelona‑based Dares Technology, a specialist in synthetic‑aperture radar (SAR) image processing for mining, infrastructure and defence. The deal integrates Dares’ high‑precision SAR radar and processing software into Indra’s Tarsis drone family, enabling the creation of detailed topographic maps and detection of terrain changes of only a few centimeters. This enhances Indra’s radar and unmanned‑system capabilities for the Armed Forces, supporting missions such as surveillance, border monitoring, maritime patrol and Earth observation. The acquisition also adds a team of 27 experts to Indra’s Radar Center of Excellence, expanding its portfolio for the Weapons & Ammunition business and strengthening its global leadership in advanced radar technologies. 6

• Lusiaves, Portugal’s leading poultry group, is expanding its presence in Spain by acquiring a majority stake in Catalan poultry company Padesa (Pavo y Derivados). The deal, valued at around €350 million, follows Lusiaves’ recent purchases of Oblanca and Avícola Segoviana, boosting its total revenue to €1.5 billion and its workforce to nearly 9,000 across the Iberian and French markets. Padesa, a family‑owned firm with €550 million in sales and about 3,000 employees, will retain its former owners, the Salvadó and Centelles families, as minority shareholders and managers. The Peruvian group Valora also participates as a minority partner. Padesa’s 53‑year history spans the entire poultry value chain, from feed production to fresh‑product sales under the Adelís brand. 7

• Grupo Dilus, a leading Spanish engineering firm for environmental monitoring solutions, has taken Talde as its majority shareholder. Talde’s investment aims to accelerate Grupo Dilus’s organic and inorganic growth, emphasizing innovation, digitalisation, and expanded services. Grupo Dilus, with 40  years of history and 70 staff, offers turnkey solutions across meteorology, renewable energy, air quality, water, oceanography, and radiological monitoring, and is expanding internationally. 8

• Artá Capital has agreed to acquire a majority stake in Talleres Electromecánicos L. Pinazo, S.A., a Spanish manufacturer of low‑voltage electrical enclosures and cabinets founded in 1964 and based in Algete, Madrid. Pinazo, with revenues of about €40 million in 2025 and a 12 % CAGR over six years, serves Spanish utility distributors and leading equipment distributors, offering products such as protection, metering and power distribution cabinets, as well as solutions for public lighting, water and gas distribution. The founders will remain in charge and retain a significant equity portion. Artá Capital will provide resources to expand product development and international sales, both organically and through add‑ons. 9

• Queka Real Partners (QRP) has acquired a majority stake in Expertia Formación, a Spanish training centre that provides official and practical education for high‑demand technical trades such as electrical work, plumbing, welding, HVAC, lift and solar‑panel installation, and industrial maintenance. QRP will fund Expertia’s growth and expansion, including a new 1,500‑square‑metre training centre in Valencia, and support a network of advanced technical training hubs across Spain. 10

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