2024 recap in M&A and Private Equity by Francisco Hidalgo-Barquero, Partner
• Cinven acquired 70% of idealista, the leading real estate online platform in Spain, Italy and Portugal, valuing the company at 2.9 billion euros. Jesús Encinar, founder and President of idealista, will continue to lead the company with his team, as he already did in 2015 after the sale of idealista to the funds managed by Apax and in 2020 after the sale to EQT.
• Ardian, Alantra, Artá Capital, and Landon have agreed to sell their stake in MONBAKE to CVC. Monbake Group has consolidated its position as one of the three main producers and distributors of frozen dough at national level. Monbake was created in February 2018, when Ardian bought the companies Berlys and Bellsolá.
• The Carlyle Group announced an investment in SEIDOR, a Barcelona-based consultancy with 9,000+ employees and partnerships with tech giants like SAP, Microsoft, and AWS. Separately, Babel partnered with Mubadala, which acquired a majority stake. Both deals underscore Spain’s growing IT ecosystem and the global interest from top-tier private equity players.
• EQT Group announced that has agreed to acquire a majority position in Universidad Europea from Permira, who will retain a significant minority stake in the Company.
• Providence Equity Partners has made a strong entry into Spain’s fitness sector with its acquisition of VivaGym, the independent low-cost gym chain in the country. After acquiring VivaGym, Providence has executed several add-ons, including the high-profile acquisition of AltaFit Gym Club (MCH Private Equity).
• Miura Partners has acquired HTBA (HealthTech BioActives) from US-based PE firm The Riverside Company, marking a significant transaction in the Spanish HealthTech sector.
• JB Capital Markets has led a consortium including GPF Partners, Ion-Ion, Corporación Financiera Guadalmar, and Label Investments to acquire Palacios Alimentación from MCH and Ardian.
• Asterion Industrial Partners sold Nabiax data center group to a fund managed by Aermont Capital. This transaction includes Telefónica’s 20% stake in Nabiax. Asterion established Nabiax in 2019 by acquiring 11 data centers from Telefónica and later expanded the portfolio.
• In 2024, Puig solidified its global leadership in beauty and luxury with a majority stake acquisition in Dr. Barbara Sturm and further investments in Charlotte Tilbury Beauty and BYREDO.
• Once For All (GTCR LLC), a European player in supply chain compliance and sustainable sourcing solutions for the construction sector acquired Spain-based compliance software Nalanda Global from PSG.