Executive Summary – IMAP Report Q1–Q3 2025
What has happened at IMAP this year and how many M&A deals have we closed?

 

IMAP Global Activity:

• IMAP closed 171 M&A transactions worldwide, valued at over USD 10 billion.
• Despite a slowdown in the mid-market, IMAP has maintained a strong pace thanks to its strategic approach and international presence.
• The most active sectors include Technology, Services, Industrials, and Consumer, with over one-third of deals being cross-border.

Economic Context:

• Global trade tensions, particularly due to U.S. policies, have impacted supply chains and financing.
• Transactions have become more complex and slower, but IMAP has shown resilience and the ability to adapt and close significant deals.

Spain:

• M&A activity in Spain has rebounded, with an average of 250 transactions per month through August.
• Although still below 2024 levels (~300/month), the gap is expected to narrow by year-end.
• The projected economic growth of 2.4%–2.6%, along with strength in services and tourism, has attracted European buyers.
• Sectors with the highest interest: Industrial Services, Cosmetics, Healthcare, Logistics, and Software/IT.