The mergers and acquisitions (M&A) market in Spain continues to show strong momentum in 2026, with significant deals across sectors such as industrials, aerospace, technology, healthcare, and logistics. Below is an overview of some of the most notable transactions.
New Players and International Investment in Spain
Menako Capital – Operator Investors has launched operations in Spain, led by former Quantum Capital Partners partner Yaukuma Armbruster. Its first deal consists of the acquisition of INESPASA, a key Spanish aerospace supplier serving both Airbus and Boeing across civil and defense programs.
Technology, Defense, and Robotics Growth
German company Helsing, a drone manufacturer valued at €12 billion, has acquired Barcelona‑based robotics startup Keybotic, strengthening its position in advanced technology and defense innovation.
Food Sector and International Expansion
Barcelona‑based brewery Damm, founded in 1876, has acquired the British ale brand Old Speckled Hen from Greene King. This transaction reinforces Damm’s presence in the UK market, following its acquisition of Eagle Brewery in 2022.
Construction and Engineering: Service Integration
EZENTIS has agreed to acquire a 55.01% stake in ADQA Proyectos, a company specializing in the construction of professional spaces. The deal values the company at approximately €8.5 million and strengthens EZENTIS’ integrated installations and maintenance capabilities.
International Logistics and Expansion in Africa
Vigo-based Kaleido, Ideas & Logistics has incorporated International Freight Services South Africa (IFS) into its network, creating Kaleido Logistics South Africa. This move expands its footprint across Africa, complementing its presence in Angola, Namibia, and Mozambique.
Circular Economy and Sustainability
Alicante-based ACTECO, Productos y Servicios S.L., a waste management company, has acquired the used cooking oil business of Reciner Energía in Valladolid. The acquisition strengthens its role in the collection and processing of oil for biodiesel production.
Healthcare Sector: International Growth
Saesco Medical Group, backed by Miura Partners, has completed the acquisition of Sangüesa and its subsidiary Tramedic. Additionally, it has acquired Italian company Medcomp, which will be integrated into its Italian platform Dimed, enhancing its European footprint.
Automotive and Spare Parts: Sector Consolidation
Grupo Recalvi, supported by Abac Capital, has acquired ZOEL Auto Parts, a family-owned company with nearly 30 years of experience in the multi-brand spare parts market and €20 million in revenue in 2025. The deal includes the integration of its entire workforce.
Infrastructure: Full Control of Strategic Assets
China Road and Bridge Corporation (CRBC) has completed the acquisition of 100% of Grupo Puentes, after purchasing the remaining 32.7% stake. The company had already acquired 66.54% six years earlier, while the Otero family retained a minority stake.
Investment in Health and Wellness
CEX Capital has acquired a 25% stake in PlusQuam Pharma, an Extremadura-based company focused on dietary supplements, medical devices, and cosmetics.
Key M&A Trends in Spain
These transactions highlight several key trends in the Spanish M&A market:
- Increasing interest from international investors in Spanish companies
- Growth in strategic sectors such as technology, healthcare, and industrials
- Ongoing business consolidation and operational efficiency efforts
- International expansion as a key growth driver
- Strong focus on circular economy and sustainability
