MAWEEKLY · 2 de marzo de 2026

Week 9 (2026) in M&A and Private Equity🛰️🇪🇸

Transactions of the Week (February 23 - March 1)

Hi, I’m Fran Hidalgo-Barquero, Partner at Albia IMAP. This is a weekly newsletter covering M&A and Private Equity transactions in Spain. Contact: Email, LinkedIn.

• Amadeus has acquired US-based SkyLink, an AI-focused company enhancing travel bookings through conversational technology. This integration aims to streamline flight and hotel bookings, improving cost efficiency and productivity for businesses. Amadeus plans to expand these AI capabilities across the travel sector, ensuring a seamless experience for travelers and reinforcing its position as a leading technology partner in the industry.1

• Kymos Group, a Barcelona-based company specializing in contract analysis services for the pharmaceutical industry, has acquired the Danish firm Particle Analytical. This acquisition aims to strengthen Kymos’ position in Europe and enhance its service portfolio. Kymos expects to reach €35 million in sales and over €6 million in EBITDA in 2026, following this transaction. Previously, Kymos has also acquired Italian Pharmaprogress and German Prolytic, and established a subsidiary in Seoul in 2025. 2

• ABE Capital Partners and Columbus Venture Partners have agreed to acquire a majority stake in Sermes CRO, a Spanish contract research organization specializing in clinical trial management. This partnership aims to accelerate Sermes’ growth, enhance its international market reach, and leverage its expertise in digital innovation. With 29 years of experience, Sermes provides comprehensive CRO services and supports clients throughout the clinical development cycle. The acquisition is expected to boost Sermes’ capabilities in regulation, advanced therapies, and technology. 3

• Voltan (Henko Partners) has integrated Garaysa, a specialist in high-voltage substations, into its Transmission and Distribution unit, marking its sixth acquisition since 2021. This move enhances Voltan’s technical capabilities and aims to exceed €140 million in turnover by 2026. The integration will generate synergies in the T&D division, addressing the rising demand for electricity grid investments. Garaysa, based in Carballo, brings over 20 years of experience in electrical infrastructure and aligns with Voltan’s vision for efficiency and sustainability. 4

• Quadrante (Henko Partners), a Portuguese engineering firm, has acquired Barcelona-based Inprocess Technology and Consulting Group to enhance its presence in Catalonia. This follows the 2024 acquisition of Meta Engineering. The integration will maintain Inprocess’s management structure, with CEO Oriol Millán continuing in his role. Inprocess, which closed 2025 with over €15 million in revenue, specializes in the energy sector and has a global presence with offices in the USA, Malaysia, Brazil, and India. Founding shareholders will reinvest and align with Quadrante’s objectives. 5

• Grupo Alacant (Investindustrial) has signed a definitive agreement to acquire Silver Pail, one of Ireland’s largest ice cream manufacturers known for premium products made from locally sourced milk. This acquisition aims to enhance customer value by merging production expertise with Silver Pail’s local relationships. Plans include investing in Silver Pail’s facilities and workforce to maintain its market leadership. 6

• B2Group (Queka Real Partners) has acquired Aitire, a company specializing in cloud infrastructure management, to strengthen Datos 101’s position as a leader in the Spanish cloud market. This strategic move aims to enhance Datos 101’s service portfolio and improve capabilities in virtualization and AI applications. The integration will foster innovation and digital transformation, allowing for a more flexible offering to partners in the cloud channel. 7

• Galician company Trison (L-GAM) has acquired German firm InfraStor, known for its smart building solutions. This move strengthens Trison’s inorganic growth strategy, following previous acquisitions in the UK and the US. CEO Alberto Cáceres emphasized that this acquisition is crucial for expanding their European presence and enhancing their capacity to deliver comprehensive solutions globally. Wolfgang Kröner, managing director of InfraStor, noted that the partnership will enable access to new growth opportunities while maintaining high-quality solutions.8

• Miura Partners and Mindful Capital Partners have agreed to sell their stake in Italcer to Wienerberger, a leading Austrian construction materials group. The transaction, expected to complete in Q2 2026, follows Italcer’s strategic transformation and expansion under Miura’s guidance, which included multiple acquisitions and significant growth. Italcer has positioned itself as a sustainable innovation leader in the ceramic sector. This partnership with Wienerberger aims to enhance Italcer’s market presence and growth trajectory, particularly in key markets like the U.S. 9

• Inforges has acquired the technology consultancy Aser IT, enhancing its capability to offer tailored digital transformation solutions. This integration allows Inforges to scale while focusing on being a leading SAP Cloud ERP partner. The merger boosts international presence and enables the design of robust technological architectures. Aser IT has recently won the Demand Generation Excellence 2025 award, highlighting its specialization in SAP Cloud ERP and commitment to innovation and value creation for clients. 10

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