MAWEEKLY · 4 de marzo de 2024

Week 9 (2024) in M&A and Private Equity 🛰️🇪🇸

Weekly collection of transactions (February 26 - March 3)

• Wallapop has expanded its Series G funding round by €20 million, with AXIS, through Fond-ICO Next Tech, joining as a new investor and reaching a valuation of €806 million. This addition supports Wallapop’s aim to become the leading platform for product reuse in Southern Europe. The company, celebrating its 10th anniversary, reported a 26% revenue increase to €91 million in 2023. Wallapop has 19 million users and generates around 100 million listings annually. 1

• Sensogreen, a Valencian company specializing in personal care and perfumery products, is acquiring Kerzo and Colorcrem from the French group Eugene Perma. Kerzo, established in 1962, is known for male hair loss treatments and scalp aging products, while Colorcrem specializes in hair dyes enriched with argan oil. 2

• Banco Santander has acquired a 33% stake in Seaya Ventures and will invest in the Seaya Andromeda climate tech fund, enhancing its involvement in Spain’s entrepreneurial ecosystem. This move aligns with Santander’s broader investment strategy, which includes initiatives like the creation of the Smart Fund and Tresmares, a financing platform aimed at supporting high-growth SMEs in Spain, the UK, and Portugal. 3

• Miura Partners is transferring Proclinic to a new €200 million continuation fund. The private equity firm hired Moelis & Co last year to sell the company. Apparently, the offers received did not meet the expectations. Proclinic’s valuation is estimated between €250-€300 million, with a revenue of €256 million and an EBITDA of €27 million in 2023. 4

• EXTE (Magnum Capital), an Adtech group formed by the merger of SunMedia, Adpone, and Rich Audience, has acquired Talks Media and Pubtech from Skip Group. This move aims to bolster EXTE’s position in the Italian market and enhance its service portfolio both locally and internationally. 5

• Murcia-based Natu Laboratories, formerly known as Laboratorios Natuaromatic, has acquired Betrés On, a brand from Iberfrasa’s pharmacy business division. This strategic move signifies a commitment to inorganic growth, enhancing the company’s presence in the beauty and home care sector. 6

• French group Septeo has strengthened its presence in the hospitality sector by acquiring ACIGrup, a company with over 30 years of experience in developing software for hotels and restaurants. This acquisition complements Septeo’s existing hospitality portfolio, which includes Unixdata, Tesipro Solutions, HotelsDot, Máster Camping, and Revenue Control Data. This move aligns with Septeo’s commitment to covering the digital value chain for hospitality professionals and reinforces its strategic positioning in Spain.7

• Evolutio (Portobello) has acquired the Portuguese cybersecurity and connectivity company Securnet, aiming to become the leading cybersecurity and SD-WAN service integrator in the Portuguese market and one of the most important in the Iberian Peninsula. This acquisition, along with the 2021 acquisition of Warpcom, strengthens Evolutio’s service portfolio and expands its value proposition to clients. Securnet, with offices in Porto and Lisbon, has a broad and consolidated client base and holds high-level certifications for handling classified information. 8

• Grupo Aviserrano expands its presence in the poultry products sector by acquiring a minority stake in the Córdoba-based company La Carloteña. Both groups aim to grow La Carloteña’s current annual revenue of €31.5 million to over €60 million by 2028. 9

• In its first divestment, Gemba Private Equity, managed by Navis Capital and focused on SMEs, sold the Catalan kitchen extractor hood manufacturer Frecan to an international competitor, just two years after acquisition. The buyer, an international group present in over a hundred countries, aims to expand its product range and boost cross-selling with this acquisition.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 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.

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