MAWEEKLY · 2 de diciembre de 2024

Week 48 (2024) in M&A and Private Equity 🛰️🇪🇸

Weekly collection of transactions (November 25 - December 1)

• Suma Capital has formalized a new growth capital operation in Vallfirest Tecnologías Forestales, a leading company in innovation for wildfire firefighting. The investment is made through the SC Growth Fund II and aims to support Vallfirest’s growth plan, led by its founder Javier Baena, by consolidating its position in key markets such as North America and Mercosur, while also promoting strategic acquisitions to complement its offerings. 1

• TagMaster, a leading supplier of data solutions and advanced sensor systems for Smart Cities within Traffic and Rail, acquires 92,5 % of the shares of Quercus Technologies. Quercus, designs and manufactures video based advanced digital solutions for the parking industries. The company is headquartered in Reus, Spain, and has installations in over 100 countries worldwide. Through the acquisition TagMaster significantly strengthens its offering for parking access, management, and security, and increases its sales to business customers (B2B) to complement its currently predominantly government business. 2

• Fluidra, a global leader in equipment and connected solutions in the pool and wellness sector, has agreed to acquire 100% of BAC pool systems. The company is a recognized manufacturer and distributor of automatic, manual and safety covers for both residential and commercial pools with operations in Germany and Switzerland. 3

• Visma has acquired tugesto, a leading provider of cloud payroll and other essential business tools. Founded in Valencia in 2015, tugesto delivers the digital solutions companies need to run their business efficiently on a daily basis. tugesto becomes Visma’s fifth software acquisition in Spain since first entering the country in 2021, and also marks the strategic addition of payroll solutions to its total offering in the Spanish market. Angels, Juan Roig’s investment company, has sold its entire shareholding in tugesto as part of the transaction. 4

• Elis, the global player in circular services at work, announced the acquisition of Carsan. Carsan, whose 2023 revenue was c. 8 million euros, operates a plant in Getafe and mainly addresses high-end Hospitality clients located in the Madrid region. The Group currently employs around 120 people. 5

• PIB Group, backed by private equity firms Apax and Carlyle, has acquired 21 Spanish insurance brokerages since entering the market in 2022. Its latest acquisitions include SegreSegur in Lleida, specializing in agrarian insurance; Blat Seguros in Barcelona, focused on reinsurance; Segurnou in Tarragona, offering comprehensive services for over 30 years; and Fenix Broker in Seville, handling €20 million in revenues with a team of 40 professionals. With these purchases, PIB Group Iberia now manages over €450 million in intermediated premiums and employs 400 people, making it Spain’s fifth-largest insurance brokerage group. PIB Group, founded in 2015, operates in multiple European markets and manages €3 billion in premiums with over 3,800 employees. 6

• Laboratorios Almond, backed by Nazca Capital, has acquired the remaining 50% of Nutriops from Costa Concentrados Levantinos, owned by Fruselva. This transaction strengthens Almond’s position in the international plant-based beverage market and supports the growth of its Ecomil brand. Fruselva, a co-manufacturer specializing in infant food pouches, will continue producing for Almond via Costa Concentrados Levantinos. 7

• Superstruct Entertainment, a live music organizer owned by U.S. investment funds KKR and CVC, has acquired Riff Producciones, Spain’s largest concert and tour promoter. This follows Superstruct’s earlier 2023 acquisition of The Music Republic, a major Spanish festival promoter, for €120 million. Founded in 1994 by Carlos Espinosa and Chris Ortiz, Riff organized over 500 productions in 2023, including Spain’s top tours by artists like Manuel Carrasco and Melendi, and manages prominent artists such as Malú and Joaquín Sabina. 8

• Canopy Brands, a family of trusted brands providing protection, access and mobility solutions, announces the acquisition of the rack and pinion and swing stage divisions of lifting equipment specialist Alba-Macrel Group. Founded in 1957 and based in Spain’s Basque region, Alba is a leading manufacturer of rack and pinion hoists and swing stages, with sales presence in 77 countries. Distribution in the U.S. market is through Bee Access, a division of Canopy Brands. Alba’s product line features material and personnel hoists, transport platforms, mast climbers, construction elevators and modular suspended platforms. With 240,000 square feet of facility space, experienced engineers and automated manufacturing equipment, Alba is well-positioned for growth under the Canopy umbrella 9

• AELIX Therapeutics, a biopharmaceutical company based in Barcelona, Spain, that focuses on HIV vaccine development, today announced that Gilead Sciences, based in Foster City, Calif., USA, has acquired its HTI HIV investigational assets.10

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I am a Partner at Albia IMAP. IMAP is an International Mergers and Acquisitions Partnership with a 50-year track record, more than 450 M&A professionals worldwide and a presence in 50 countries. IMAP has closed over 2,200 transactions valcued at $130bn in the last 10 years and is consistently ranked in the world’s Top 10 M&A advisors (Refinitiv) for mid-market transactions.