MAWEEKLY · 26 de octubre de 2026

Week 43 (2026) in M&A and Private Equity

Transactions of the Week (October 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.

• Connectif, Spain-base AI‑powered marketing automation and customer data platform for ecommerce, announced a strategic investment from Investcorp Technology Partners. The deal, ITP’s first in Spain, will fund Connectif’s market expansion, product development and international growth. Connectif’s platform unifies customer data and automates omnichannel campaigns with AI, offering tools such as an agentic AI assistant for rapid campaign creation. The partnership aims to strengthen Connectif’s position as a leading global ecommerce engagement solution.1

• Hologic (Blackstone, TPG) announced a definitive agreement to acquire Reveal Genomics. The acquisition aims to expand Hologic’s portfolio in genomic testing, leveraging Reveal Genomics’ technology to enhance diagnostic capabilities. This move reflects Hologic’s focus on advancing personalized medicine and strengthening its position in the molecular diagnostics market. 2

• Ratos’s HL Display has signed an agreement to acquire Spain‑based Top Global, a visual communication and retail‑marketing provider. The deal, part of Ratos’ 2030 strategy to add value‑creating acquisitions, will strengthen HL Display’s presence in Spain and expand its in‑store merchandising and communication solutions across Europe. The acquisition follows two previous add‑on purchases by HL Display this year. HL Display, founded in 1954, operates in over 70 countries, serving 350,000 stores with 1,600 employees and 2025 net sales of SEK 2,834 million. 3

• Woodmark Group announced that Apser Data Engineering, a leading Spanish AWS‑focused cloud, AI, and customer‑experience consultancy, has joined its platform. The acquisition expands Woodmark’s presence into Spain and supports its goal of becoming a premier European Data & AI group powered by AWS. Both firms are AWS Advanced and Premier Tier Services Partners, offering complementary expertise in data platforms, analytics, AI, generative AI, business process automation, and Amazon Connect‑based contact‑center solutions. Apser will retain its Spanish operations and leadership while leveraging Woodmark’s broader resources and international reach. The deal is backed by Vision Mittelstand Partners Management. 4

• Miura Partners, a Barcelona-based private‑equity firm, has taken control of Mallorcan company Farmadosis, which specializes in medication dosing systems and robotics. Farmadosis generates roughly €15 million in annual revenue, and Miura plans to multiply this figure through organic growth and acquisitions in the sector. Founded in 2012, the company provides an integrated solution for automating drug preparation and management, combining hardware, software, consumables, and technical service, and operates in 25 countries across Europe, the Middle East, and Latin America. 5

• Ramudden Global is expanding into Spain by acquiring Señalizaciones Ortega, a company founded in 1998 that manufactures and installs road signs, markings, and safety barriers. The acquisition gives Ramudden an established local foothold and a platform for growth. This move aims to strengthen Ramudden’s presence across Spain. 6

• Namirial (Bain, PSG) announced an agreement to acquire ZeroComa, a Madrid‑based provider of e‑invoicing, e‑notification and e‑reporting solutions for Spanish companies. The deal expands Namirial’s footprint in Spain, aligning with upcoming mandatory e‑invoicing regulations. ZeroComa serves over 650 clients, including 20 % of IBEX 35 firms, through platforms such as EdasNEO, InvoiZE and EdasSII. The acquisition will keep ZeroComa’s co‑CEOs, Alvaro and Alejandro Allende, and the current management team onboard, with the Allende brothers also joining Namirial’s shareholder group. 7

• Linkener has secured a €7.5 million investment led by Klima Energy Transition Fund (Alantra) with continued support from GoHub Ventures. The funding will be used entirely to enhance its energy‑management platform, accelerate technology development, and integrate artificial‑intelligence features. The company now serves over 2,000 clients, managing 10,000 supply points and 1.7 TWh of annual energy, helping customers save more than €15 million per year. Linkener’s intelligent energy‑management system offers real‑time data, invoice validation, AI‑driven savings detection, and end‑to‑end service from monitoring to photovoltaic projects. 8

• Stirling Square Capital Partners, a UK PE fund, has reinforced its portfolio by supporting its Spanish affiliate, Sustainable Agro Solutions (SAS Group), in acquiring a majority stake in South African bio‑stimulator producer Afrikelp. The deal marks SAS Group’s sixth acquisition in three years, adding bio‑stimulators for over 45 crops across 55 global markets. Afrikelp’s exclusive access to the algae Ecklonia maxima and its patented cold‑micronisation process give it a competitive edge. SAS Group will reinvest part of the proceeds, strengthening alignment with Stirling Square, which has held a majority in SAS since 2021. 9

• Girbau has acquired the German company Fintec Textilpflegesysteme. The deal signals Girbau’s intent to strengthen its position in the textile care market by integrating Fintec’s technologies and product lines.10

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