MAWEEKLY · 17 de noviembre de 2025

Week 46 (2025) in M&A and Private Equity 🛰️🇪🇸

Transactions of the Week (November 10 - 16)

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.

• Atlético de Madrid’s main shareholders have agreed to sell a majority stake to Apollo Sports Capital, Apollo’s dedicated sports investment platform. CEO Miguel Ángel Gil and President Enrique Cerezo remain significant shareholders and retain management control, ensuring continuity. Apollo will inject fresh capital to strengthen the club’s balance sheet, fund squad investment and finance large-scale infrastructure, notably the Ciudad del Deporte district beside the Riyadh Air Metropolitano stadium.1

• Finsolutia, a tech-enabled credit and real estate servicer backed by Pollen Street Capital, has signed binding agreements to acquire Hipoges, a Southern European real estate and loan management platform previously backed by KKR. The deal will create one of Europe’s largest tech-enabled credit and real-estate servicing groups, with over 2,000 professionals and approximately €55 billion of assets under management across Spain, Portugal, Italy and Greece. The combined platform aims to offer end-to-end servicing, enhanced analytics and greater capacity for complex transactions. 2

• Mayrit Capital Partners has acquired a majority stake in González Hermanos Grupo Alimentario, parent of Spanish cooked and cured meats producer Embutidos Carchelejo, for an undisclosed amount. Based in Carchelejo (Jaén) and founded over 50 years ago, Embutidos Carchelejo offers more than 30 SKUs, including pork, turkey and Halal-certified products, and generated EUR 21.7m of revenue in 2024. The company’s structure and commercial strategy will remain in place, with 80% of sales in Spain and 20% exported. 3

• Grupo Tekpolio, a Basque family office, has acquired Astucrian company Cristal Norte. Cristal Norte is a leading glass specialist in northern Spain, focused on aesthetic solutions such as railings, sliding doors and terrace enclosures, and generated €10m revenue and €2m EBITDA in 2023. 4

• Safe Life, the leading Automated External Defibrillator distribution and services platform backed by Byggmästare Anders J Ahlström, has completed four bolt-on acquisitions in Spain, France and the US. The acquired businesses specialise in sales, rental and maintenance of defibrillators, adding around SEK 250m of annual revenue, equivalent to roughly 10% of Safe Life’s current pro forma turnover. Management teams in all acquired companies have reinvested in Safe Life, supporting its buy-and-build strategy and international expansion in community and workplace cardiac safety solutions. 5

• Grupo Lusiaves, the Portuguese poultry group owned by the Mota Gaspar family, has acquired 100% of Spanish food distributor Avícola Segoviana via its recently acquired Spanish subsidiary Oblanca. The Madrid-based company, with around 40 years of activity, employs more than 60 people and generates annual revenues of about EUR 9.5m. The deal strengthens Lusiaves’ presence in Madrid and supports its Iberian growth and internationalisation strategy, enhancing its poultry distribution capabilities in Spain across fresh and processed products. 6

• RMS, a leading European producer and distributor of accessories and spare parts for bicycles, motorcycles and scooters, has acquired 100% of Spanish motorcycle-seat manufacturer Manufacturas GES from the founding families. The deal strengthens RMS’s international expansion and integrates GES’s highly specialised manufacturing know-how with RMS’s broad commercial and distribution capabilities across more than 70 countries. Founded in 1941 in Ermua (Basque Country), GES has strong positions in Spain, France and Portugal. 7

• ILUNION has acquired Ingloba Seguridad. The transaction expands its advanced security services portfolio and strengthens technological capabilities, particularly at its Prometeo centre, which integrates alarm monitoring, security operations, video surveillance and intelligence. Ingloba contributes strong experience serving public administrations and critical infrastructure, plus recognised technical know-how. 8

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