MAWEEKLY · 30 de diciembre de 2024

Week 52 (2024) in M&A and Private Equity 🛰️🇪🇸

Weekly collection of transactions (December 23 - 29)

Merry Christmas! 🎅

• Sidenor, a Spanish steel manufacturer, has acquired Eplus, a Catalan company specializing in industrial waste management and recovery, located in Artés, Barcelona. This acquisition aligns with Sidenor’s commitment to sustainability and the circular economy, enhancing its capacity to recycle materials such as ferrous and non-ferrous metals, paper, cardboard, and plastics for reuse in the steel and metallurgical industries.1

• Sherwin-Williams, a U.S.-based paint and coatings company, has acquired Spanish peer Shingels. Based in Granollers, Catalonia, Shingels manufactures paints, fillers, and solvents and employs around 50 people. In the previous fiscal year, the company generated €31.6 million in revenue with a reported EBITDA of €5.8 million. 2

• Iberian Premium Fruits (MCH) has integrated The Natural Hand into its group. The Valencian company is dedicated to producing and marketing high-quality persimmons and citrus fruits to become the leading European player in producing and distributing premium oranges, mandarins, and other high-value-added products. Iberian Premium Fruits was founded in April 2023 following the merger of Llusar and Torres in 2021, two leading companies in the premium orange and mandarin sectors. Additionally, in June 2023, V-ROS, the largest specialist in clementines with leaves, joined the group. 3

• Veritas Intercontinental, a Spain-based genomics company, has acquired biotech firm NIMgenetics, previously majority-owned by Apposite Capital. This acquisition aims to strengthen Veritas’ presence in Spain and expand its genomic solutions. NIMgenetics operates in Latin America, the U.S., and Europe, with teams in Brazil, Mexico, and Portugal. In 2023, NIMgenetics reported €10 million in revenue, a decline from €10.49 million in 2022, and incurred operating losses exceeding €2 million in both years. 4

• Inmho, a leading property administrator, has acquired the rental platform SinVisitas, adding 2,000 rental properties to its portfolio and increasing its managed assets to nearly 5,000 homes across long-term, medium-term, and vacation rentals. CEO Antonio Baldellou emphasized Inmho’s commitment to inorganic growth, with plans to manage over 15,000 properties by 2028 through further acquisitions and investments in marketing and technology. The company expects 2024 revenues to exceed €35 million, with over €3 million from rental management, and projects double-digit growth across all business lines by 2025. 5

• Aercal Aerospace (CAPZA), a Seville-based company specializing in aerospace component manufacturing, has acquired Talleres Goerri, a Jerez-based firm with extensive experience in aerospace machining technology. Talleres Goerri has been providing comprehensive services to major clients like Aciturri, contributing to significant programs such as the A350 and A330. This acquisition is part of a sector consolidation strategy initiated by Capza in 2022 with the purchase of Aercal. Since then, Aercal, supported by Capza, has acquired Compasur, MBC, and Tecniplant, and now adds Talleres Goerri to its portfolio. 6

• Aitana-Opentix, a Valencia-based technology firm, has acquired Inforolot, a Catalan IT solutions consultancy specializing in the meat industry, as part of its strategic expansion in Catalonia. The deal includes integrating Inforolot’s 20 employees and its portfolio of 60 clients, with an annual turnover of €2.2 million. This acquisition follows Aitana-Opentix’s recent purchases of Omnia and Extreme IT, reinforcing its ERP and CRM solutions in Catalonia. 7

• Ence, through its subsidiary Ence Biogas, has acquired a biogas plant in La Galera, Tarragona, with a production capacity of 50 GWh of biometane annually. The facility, covering five hectares, was previously owned by a group of investors, farmers, and ranchers. Ence plans to invest in environmental upgrades, including odor emission controls, to align the plant with its sustainability standards. Additionally, Ence has signed a 15-year contract with a major gas distributor for biometane sales. This acquisition supports Ence Biogas’s goal of producing 1,000 GWh of biometane annually by 2030, complementing 14 ongoing projects and 14 in development across Spain. 8

• Javier Botín, through his investment firm JB Capital, has led a consortium including GPF, Ion-Ion (Jon Riberas), Corporación Financiera Guadalmar, and Label Investments to acquire Palacios Alimentación from MCH and Ardian.Palacios Alimentación, a Spanish prepared foods company known for products like chorizo, pizzas, pastries, and pre-cooked tortillas, generates approximately €400 million in annual revenue and operates seven production centers across Spain, the United States, and the United Kingdom. 9

• LIFTISA, a leading Spanish provider of low-height access solutions and innovative elevation equipment, has integrated into Kiloutou España’s project, marking another step in Kiloutou’s strategic growth through acquisitions in Spain. This move aligns with Kiloutou’s strategy of expanding its presence in key European markets via mergers and acquisitions, with approximately 10 transactions closed in Spain to date. Kiloutou, headquartered in France, is Europe’s third-largest generalist equipment rental company and a leader in the French market. The group operates 600 branches in seven European countries. 10

• …

Subscribe to receive weekly updates.

Let’s talk!

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.