MAWEEKLY · 3 de febrero de 2025

Week 5 (2025) in M&A and Private Equity 🛰️🇪🇸

Weekly collection of transactions (January 27- February 2)

• Indra has reached an agreement with Redeia to acquire ~90% of Hispasat for €725 million, strengthening its position in the satellite communications sector. Hispasat, Spain’s leading satellite operator, plays a key role in global connectivity, particularly in Latin America, Spain, and Portugal. This acquisition aligns with Indra’s strategy to expand its technological capabilities and enhance Spain’s role in secure satellite communications.1

• Seaya has acquired a majority stake in Nax Solutions through its Andromeda sustainability-focused fund, reinforcing its commitment to innovative and sustainable technology investments. Nax Solutions, a Spanish company specializing in artificial intelligence (AI) and data analytics for the agricultural sector, provides cutting-edge solutions to optimize crop management, improve efficiency, and reduce environmental impact. 2

• TravelPerk Raises $200M and Acquires Yokoy to Create the Leading Integrated Travel and Expense Management Platform. The acquisition of Yokoy, a spend management platform, allows TravelPerk to offer a deeper and more unified travel and expense offering to its clients while expanding its addressable opportunity. The $200m Series E financing raises the company’s valuation to $2.7 billion. Atomico, EQT Growth, Noteus Partners and Sequoia Capital will join TravelPerk’s world-class investor base alongside existing investors like General Catalyst, Kinnevik, Softbank Vision Fund, and Blackstone. 3

• Inveready has acquired Enantia, a specialized company in chemical research and development (R&D), to establish a new group focused on scientific and technological services. With this acquisition, Inveready seeks to accelerate innovation and expand Enantia’s capabilities, fostering growth in high-value R&D solutions. The integration aligns with Inveready’s strategy to create a leading European research services platform, providing advanced solutions to industries reliant on scientific and technological innovation. 4

• Portugal-based Minerva Insights (Ufenau Capital) has acquired Adjinn, a Spanish company specializing in digital advertising analytics and insights, to enhance its capabilities in data-driven marketing and ad intelligence. This acquisition strengthens Minerva’s position in the programmatic advertising and real-time ad monitoring space, leveraging Adjinn’s expertise in ad tracking, performance measurement, and AI-driven insights. 5

• Spain-based Trison (L-GAM), Europe’s largest digital signage integrator, has acquired Zero-In, a long-time partner based in New York City. This strategic takeover strengthens Trison’s global leadership and provides entry into the U.S. market, the world’s largest but highly fragmented digital signage market. With the acquisition, Trison now operates 17 offices in 14 countries with approximately 500 employees. 6

• KPMG Spain has acquired Loyic, a consultancy specializing in SAP solutions, to enhance its technology and digital transformation capabilities. This acquisition reinforces KPMG’s commitment to enterprise resource planning (ERP) solutions, expanding its expertise in SAP implementation, cloud migration, and process automation. 7

• Grupo Soledad, which reported €402 million in revenue in 2023, has entered the specialized steel industry by acquiring Aceros y Servicios, a company with annual revenue exceeding €14 million and a workforce of 61 employees. This strategic acquisition allows Grupo Soledad to diversify beyond its core automotive and rubber sectors, reinforcing its industrial capabilities. 8

• Logística Carosan, a logistics company backed by Sherpa Capital, has acquired Transnugon S.L., strengthening its presence in the transport and logistics sector. This acquisition enhances Carosan’s operational capabilities, expanding its fleet and geographic reach. 9

• Plukon Food Group acquires 100% of the shares in the Spanish company, Grupo Avícola Hidalgo, a landmark company in the Spanish poultry industry, with production facilities in the provinces of Madrid, Valladolid and Toledo. Grupo Avícola Hidalgo employs more than 400 people, and generated revenues slightly above EUR 100 Mn in 2024. 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.