MAWEEKLY · 13 de octubre de 2026

Week 41 (2026) in M&A and Private Equity + Q3 Recap 🛰️🇪🇸

Transactions of the Week (October 5 - 11)

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.

Hi, everyone:

Below, you’ll find the usual weekly transaction selection.

But first, I wanted to share a quick audio overview of M&A and Private Equity activity in Spain during Q3 2026. Real, raw insights to help you filter through the text overload on the internet:

• SAMY, a global social‑first agency backed by Bridgepoint, has acquired US‑based Get Engaged, a creator‑focused agency with offices in Atlanta, New York, Nashville and Los Angeles. The deal expands SAMY’s US footprint, adds over 120 Get Engaged employees, and strengthens its capabilities in influencer, talent, and entertainment marketing. Get Engaged’s founders will remain to lead the business, preserving its culture while benefiting from SAMY’s global reach. The acquisition complements SAMY’s recent wins with Unilever Foods and Barilla and aligns with its strategy of growth through both organic expansion and acquisitions, further solidifying its position as a leading independent social‑first agency worldwide.1

• HTBA (Miura) has acquired Specnova, a US biotech firm specializing in cutting‑edge ingredient delivery technologies that boost bioavailability, performance, and efficacy of active compounds. This first acquisition for HTBA expands its US presence and combines HTBA’s science‑backed supplement, food, and beverage portfolio with Specnova’s patented platforms. Both companies will remain independent while collaborating to enhance product performance and develop new formats. The deal gives Specnova access to HTBA’s global commercial network, enabling broader market reach, and reinforces HTBA’s commitment to sustainable growth through advanced technology. 2

• Noucor, a Barcelona‑based pharmaceutical company specializing in generic and innovative drugs, has completed the acquisition of Germany’s Helm Pharmaceuticals. This first purchase by Noucor, backed by the MCH fund and several Catalan family offices, will roughly double its size, targeting about €200 million in revenue by year‑end. Helm, headquartered in Hamburg, produces over 40 generic molecules, runs 30 clinical projects, operates in more than 30 countries, generates €90 million in sales, and employs 130 staff. Noucor now has around 500 employees and facilities in Palau‑solità i Plegamans and Sant Fost de Campsentelles. The deal expands Noucor’s portfolio, which includes the widely distributed antihistamine Rupatadina, and reinforces its ambition to become a leading European pharmaceutical platform. The acquisition follows Noucor’s rapid growth since its 2021 spin‑off from Uriach, where it has already increased its size by 50 % in five years. 3

• Galifer has joined the Arce Clima Group. The group provides HVAC, fire protection, control, maintenance, and construction services to industrial, commercial, institutional, and service sectors across Europe. Its permanent sites are in France, Denmark, the Netherlands, and Italy, and it also has a presence in the United Kingdom and Switzerland. Founded in Madrid in 1986, Galifer designs, manufactures, and installs HVAC solutions for data centers and critical environments, serving aerospace, pharmaceutical, industrial, and research clients. It employs over 90 professionals and operates workshops and offices in San Fernando de Henares and Barcelona. 4

• Grupo de Incendios (Abac) has acquired Tankeros, a specialist in modular water tanks, to strengthen its integrated fire‑protection solutions. Tankeros brings over 25 years of expertise in designing, manufacturing, transporting, installing, and servicing water‑storage modules for fire‑extinguishing systems and other industrial applications. The acquisition adds strategic capability for GDI to combine water reservoirs, pressure groups, and pumping systems into a coordinated, full‑cycle fire‑protection offering from the design phase onward. This synergy enables better technical planning, early identification of critical points, and optimized solutions for complex projects, including water‑potable, process, wastewater, industrial, and data‑center cooling needs. 5

•Scutum has acquried GSS Security. Founded in 2007, provides customized, technology‑driven security solutions for SMEs, large enterprises, logistics operators, and the public sector. Scutum’s CEO, Franck Namy, says GSS’s expertise will add significant value to the group’s growth phase and strengthen its presence in Spain. This integration marks a new step in Scutum’s international expansion, extending its footprint in Madrid, Catalonia, and now the Valencian Community. 6

• Grupo Fuertes is strengthening its poultry market position by acquiring the Toledo‑based avian company Nutrave. Nutrave, founded in 2002, processes and distributes chicken and hen meat, operating a 100,000 m² facility with 20,000 m² dedicated to breeding and processing. The deal follows two earlier 2026 acquisitions: Tolvasa and Paasa. With Nutrave’s 2024 sales of €62.7 million and a €3.6 million net profit, Grupo Fuertes now exceeds €200 million in poultry‑related income, maintaining Spanish family ownership amid foreign acquisitions in the sector. The three founding families of Nutrave will retain equity. This acquisition aligns with the group’s long‑term strategy to control the entire poultry value chain, from feed production to processing. 7

• Blaumar Capital and Inveready, two Spanish Private Equity firms, have taken a majority stake in Blinker, a Alicante‑based distributor of products and solutions for professional sectors such as automotive, industry, construction, and marine. Founded in 1993, Blinker offers more than 30,000 product references, generates roughly €67 million in annual revenue, and records an EBITDA margin above 10 %. The company employs over 600 people, about 440 of whom work in Spain, and operates subsidiaries in France and Portugal. The new investors aim to accelerate Blinker’s growth and internationalisation, strengthen its commercial and operational capabilities, and explore further consolidation, including possible acquisitions of competitors. This deal reflects a broader trend of Spanish private equity investing in automotive repair and related service businesses. 8

• ProA Capital is expanding its dental implant platform by acquiring a majority stake in Bioner through its portfolio company Klockner Medical Group. The deal integrates Bioner into Klockner while preserving its brand and operational independence, with former owners remaining as minority shareholders. Combined, Klockner and Bioner now generate over €60 million in revenue and about €15 million in EBITDA. The acquisition strengthens Klockner’s position as Spain’s second‑largest dental implant group, enhances product offerings, market share and international expansion. 9

• The British group G’s Spain has acquired the agricultural firm Urcisol and several related production units in Águilas, expanding its presence in Murcia’s horticultural sector. This follows G’s earlier purchase of Kernel, adding to its portfolio of over 5,800 hectares and 4,000 employees in the region. G’s aims to secure long‑term growth and maintain Urcisol’s brand legacy, positioning the company to meet rising demand for fresh produce amid climate‑related challenges in Europe. 10

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