MAWEEKLY · 13 de octubre de 2025

Week 41 (2025) in M&A and Private Equity 🛰️🇪🇸

Transactions of the Week (October 6 - 12)

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

• Fermax (MCH) made a majority investment in Poland’s S-LABS, developer of the Appartme smart-building system for multi-residential properties. The move deepens Fermax’s offer beyond video door entry into IoT, energy-efficiency and connected-building services, while extending its geographic footprint in Central & Eastern Europe. S-LABS brings hardware, software and apps that manage heating, energy and access control in apartments and common areas. Fermax says the partnership will accelerate product integration and innovation for property developers and residents. 1

• Aareon Group, European real estate SaaS provider, acquired Spain’s DEH Online. DEH specializes in compliance and digital services for homeowners’ associations and property managers, and will help broaden Aareon’s solutions and coverage across Spain. The companies cite complementary tech stacks and customer bases, aiming to speed innovation and deliver integrated tools for community management, communication, and regulatory processes. 2

• Mitie España, via subsidiary Grupo Visegurity, acquired the client portfolio of Seguridad Profesional Mediterránea (SPM), a Gavà-based provider with 35+ years in guarding and auxiliary services. The deal strengthens Mitie’s national security operations and adds publicand private sector accounts. Mitie notes SPM’s expertise will be integrated with Visegurity’s capabilities in guarding, technology and compliance. Company communications indicate Mitie aims to approach €100m revenue in Spain’s security segment and onboard roughly 400 professionals as it scales. 3

• Terra Firma Capital, led by Marc Giné, acquired Catalan HVAC firms Airnou (Granollers, industrial focus) and Termotur (Pineda de Mar, hotel focus) to form Nextclima, a €10m-revenue platform. The deal is financed by co-investors OneToOne Asset Management, Istria Capital, Ethos Partners, BekaFinance and Cabiedes & Partners. In a fragmented market, Nextclima aims to deliver more specialized service, capturing customer-service synergies while preserving each company’s autonomy and brands; former owners retain equity and continue day-to-day leadership. Terra Firma will adopt the Nextclima name and pursue further add-ons (revenues €2–10m) across Catalonia and Spain, supported by EU energy-efficiency tailwinds. 4

• SAMY Alliance (Bridgepoint) acquired Amsterdam-based team5pm, a social-first, data-driven content agency, to accelerate European expansion. The combination strengthens SAMY’s capabilities in creative strategy, analytics, and performance across social platforms, adding a seasoned team and client roster. The deal extends SAMY’s footprint into the Netherlands and supports growth in Northern Europe. 5

• German insurance-broker platform GGW Group, backed by Permira and Hg and trading in Spain as “Leading Brokers United” completed its second acquisition in Spain. Details of the target and terms were not disclosed at publication. The move follows GGW’s January 2025 entry via the addition of Catalan brokerage Cogesa and aligns with stated plans to build a top-three independent brokerage platform across Spain and Portugal. The group continues an active Iberian buy-and-build strategy focused on SME-oriented intermediaries, technology enablement, and regional density. 6

• Making Science agreed to sell its Cloud & Cybersecurity unit in Spain to Italy’s Lutech for up to €26 million. The carve-out includes legal entities covering cloud infrastructure, custom software development, and cybersecurity services. The deal lets Making Science focus on its core digital marketing, AdTech and AI platform, while Lutech strengthens its Spanish presence alongside Lutech Sapimsa and Cimworks. 7

• South Europe label platform Tikedo bought Etiart, a Sueca (Valencia) producer of self-adhesive labels, through its subsidiary Etiquetas Adhegrafic. Etiart adds flexographic and digital printing capacity and deep ties to food and wine clients. This is Tikedo’s third deal in Spain, strengthening its Levante presence with plants in Molina de Segura (Murcia) and Sueca. 8

• Timestamp integrated arin, a Spanish Oracle consultancy, and Fin4Retail, arin’s cloud platform for point-of-sale consumer financing. The deal adds a Bilbao office to Timestamp’s Spanish footprint (Barcelona, Madrid, Málaga) and strengthens its Solutions & Applications business. Arin (founded 2008) delivers Oracle-led consulting, integration, and managed services across Spain and Latin America. Launched in 2017, Fin4Retail streamlines end-to-end financing in under five minutes (including SMS contract signature), boosting conversion for retailers selling higher-value goods. 9

• Bunzl Distribution Spain acquired Anta y Jesús, S.L., a regional distributor of cleaning, hygiene and professional tableware solutions founded in 1994 and headquartered in Zamora. The deal strengthens Bunzl’s north-west Iberia presence and complements its recent purchase of Quindesur. 10

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