MAWEEKLY · 5 de febrero de 2024

Week 5 (2024) in M&A and Private Equity 🛰️🇪🇸

Weekly collection of transactions (January 29 - February 4)

• Amadeus acquired Vision-Box, a leading provider of biometric solutions for airports, airlines, and border control customers. The acquisition of Vision-Box will bring new capabilities around biometrics hardware and software, adding border control solutions to the Amadeus portfolio. 1

• Legálitas (Portobello Capital) has reached an agreement to acquire KPMG Impulsa, a business division specializing in outsourcing accounting, labor, and tax services for freelancers and SMEs. This acquisition is a strategic step for Legálitas, enhancing its ability to provide comprehensive solutions to small and medium-sized businesses and entrepreneurs starting their activities. 2

• Apex (Aperitivos y Extrusionados), continues to develop its business plan, which included four acquisitions for €10 million this year. The company has now executed the purchase of Tot Snack. This acquisition contributes significantly to Apex’s sales volume, product variety, and adds a new production facility to its group. Apex, led by CEO Santiago Sala, improves its forecasts and appears to be consolidating its position as the leading potato chips and salty snacks manufacturer in Spain, ahead of the giant PepsiCo. 3

• Espiga Capital has completed the divestiture of its majority stake in Silam, a company based in Zumaya (Guipúzcoa) specializing in technical mixtures and pieces of solid silicone for various sectors. The stake was sold to Elastofirm, part of a group specialized in rubber and polymer products in the Netherlands and Germany, backed by Egeria Capital Management. 4

• Aciturri has finalized the acquisition of Alestis Aerospace by purchasing a 24% stake from SEPI (Sociedad Estatal de Participaciones Industriales). This purchase completes Aciturri’s control over Alestis, a supplier in the aeronautics industry, consolidating Aciturri’s commitment to the sector and reinforcing its industrial project in Andalusia. 5

• The Carulla family (Agrolimen), owners of Affinity Petcare, has acquired 100% of Dogfy Diet, a startup offering home-cooked meal deliveries for dogs. This move through Inveramen group, strengthens their position in the pet food sector, as Dogfy Diet has rapidly grown its business, feeding over 55,000 dogs daily and doubling its turnover to €30 million in 2023. 6

• Zamit Capital, an investment fund promoted and managed by GVC Gaesco, has acquired 100% of Ascable-Recael, a Catalan company dedicated to the design and manufacture of electrical cables. The company’s acquisition, which has a turnover of €141 million, represents Zamit Energy’s first major transaction_._ 7

• The Catalan group Armangué has acquired the Biscayan company Hierros Arrate, both specializing in rebar manufacturing for the construction industry. Hierros Arrate, known for its corrugated steel bar structures for concrete, is based in Mallabia, Bizkaia, and reported sales of €22 million and a net profit of €1.4 million in 2022.8

• The Spanish tech company Eysa, specializing in mobility solutions, has acquired Brazilian firm Serbet to expand its presence in Brazil. Serbet, previously part of the Valid group, manages over 100,000 regulated parking spaces across 22 cities in Brazil, marking a significant step in Eysa’s international growth strategy. 9

• Corus, a Spanish IT consulting multinational, has announced the integration of Next Security, an advanced cybersecurity services company, into its technology consulting and services offering. This partnership transforms Next Security into a new business unit within the Corus Group, enhancing the group’s cybersecurity solutions portfolio with AI-based technologies. 10

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I am a Partner at IMAP Albia Capital. 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 41 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.

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