MAWEEKLY · 9 de diciembre de 2024

Week 49 (2024) in M&A and Private Equity 🛰️🇪🇸

Weekly collection of transactions (December 2 - 8)

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• Veolia, a world leader in environmental solutions, announced the integration of Frimarte, a Galician group of companies specialising in naval and industrial refrigeration and air conditioning installations. This transaction is in line with Veolia’s new strategic program, GreenUp, to accelerate the implementation of affordable and replicable solutions around the world that decontaminate, decarbonize and regenerate our resources. ← We acted as financial advisors to the sellers! 🎉1

• Artá Capital has acquired a majority stake in Viokox, a family-owned cosmetics company known for producing depilatory products for Mercadona and other supermarkets. The López family retains a minority stake and will continue managing the company. Founded in 1987 and based in Picassent (Valencia), Viokox specializes in depilatory strips and creams but also manufactures other hygiene and cosmetics products. With exports accounting for 80% of its €40 million annual revenue and an EBITDA of €5 million, the company aims to expand through R&D, internationalization, product diversification, and potential acquisitions. 2

• Charterhouse Capital Partners, one of the longest-established private equity firms operating in Europe, announced that it has agreed to acquire Metrodora, a leading Spanish educational group, from Magnum Capital. Charterhouse will invest in partnership with Metrodora’s founder, Jordi Roche, to support the next stage of the company’s growth. Founded in 2021 and headquartered in Madrid, Metrodora is focused on training for healthcare professionals, providing higher education, vocational training, and lifelong learning, spanning fields including nursing, physiotherapy, sports science, and hygiene. 3

• idealista (Cinven) acquires Kyero, one of the most popular property websites among international buyers searching for homes in Spain, France, Italy, and Portugal. Founded in 2003, Kyero is based in Bath (United Kingdom) and employs a team of 33 professionals, serving more than 7,000 estate agents. Kyero will retain its operational independence and will maintain its collaboration with key software providers and operators across its active markets. 4

• Altia, a Spanish technology consulting firm listed on BME Growth, has acquired 100% of Barcelona-based IN2 for an initial €4 million, with an additional variable payment of up to €3.5 million contingent on business objectives over the next five years. This acquisition enhances Altia’s presence in Catalonia, adding over 150 professionals and expanding its workforce to more than 4,000 employees. The acquisition also broadens Altia’s technological solutions in key sectors such as healthcare, social services, tourism, and transportation. In 2023, IN2 reported revenues of €7.5 million and an EBITDA of €0.6 million. 5

• MSA Mizar (Columna Capital), the provider of outsourced insurance claims management services, has finalized the acquisition of Veta+, an independent market leader in property insurance outsourcing in Spain with over 30 years of experience, from Kartesia’s Credit Opportunities strategy. The acquisition marks a significant milestone in MSA’s growth trajectory. From a turnover of €30 million in 2021, the Group is on track to achieve €130 million by 2024. 6

• SOL Group - a multinational operating in the technical, industrial and medicinal gases and home care sectors - announces that it has strengthened its presence in Spain through a new partnership with a major Spanish operator, in the clinical engineering sector. Acquired the 51% of the Spanish company SISEMED, specialized in the management of electromedical equipment, based in Barcelona. The Costaisa Group, founded in Barcelona in 1968, created SISEMED in 2010 as an initiative to develop the medical technology services area. Today, SISEMED is a company specializing in clinical engineering, particularly in the management of electromedical equipment in hospitals. In 2023, SISEMED recorded a turnover of about 8 million euros with a workforce of over 100 employees. 7

• Prim, a Spanish healthcare equipment group, has acquired Grupo Led3D, an Alicante-based company specializing in 3D printing technology for custom foot orthotics, through its subsidiary Herbitas. This strategic move aims to enhance Prim’s innovation capabilities and strengthen its position in podiatry and orthopedics. Grupo Led3D’s NewFeet technology enables clinics to produce personalized 3D-printed insoles on-site, significantly reducing production times. 8

• Gersh, the fourth-largest talent agency in the U.S., has acquired approximately 70% of Spanish sports agency You First. Founders Juan Aísa and Miguel Alfageme will reinvest and, with other executives, retain over 30% ownership. You First represents 1,000 clients across sports such as soccer, basketball, and motorsports, generating €50 million annually with an EBITDA of €8–10 million. 9

• Voltan (Henko) has acquired majority stake in Atlas. Atlas provides digitalisation and monitoring services for transmission and distribution assets to reduce risks and improve efficiency, with the proposal of improving the performance as well as the health and safety of their employees. This is Voltan’s fifth integration since its formation at the end of 2021 and reinforces the groups presence in the T& transmission and distribution market with technological services for electrical network operators. With this acquisition, Voltan, with a turnover of €130 million, continues to establish itself as an international reference in technical services with a focus on critical energy infrastructure.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 500 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.