WEEK 39 (2025) IN M&A AND PRIVATE EQUITY IN SPAIN

Applus+ acquired UK-based APEM Group for ~£335m, creating a new global Environmental Services unit. APEM brings ~850 staff, >£95m LTM revenue to June 2025 and EBITDA margins >24%, with blue-chip clients across water, renewables, infrastructure, ports/coasts and regulators in the UK, Ireland, Australia, the Middle East and the US.

• Spain’s Grupo SM agreed to sell its digital school-management platform Educamos España to Germany’s Sdui. Educamos, used by 1,500+ schools and 3m+ users, will be integrated alongside Sdui’s Spanish unit Additio App, strengthening Sdui’s footprint in Spain and Latin America.

Nazca Capital invested in Lãberit to accelerate organic and inorganic growth with the founding team, who remain majority shareholders. The deal includes a €10m capital increase to fund expansion. Lãberit, active across Spain and Latin America with projects in 25 countries, expects to exceed €70m revenue in 2025.

 

• Quebec-based H2O Innovation acquired Lama Sistemas de Filtrados, expanding its global filtration components/consumables portfolio, especially in backwashable filtration used for irrigation and industrial applications. Lama, founded in 1948, has installed 150,000+ filtration systems worldwide.

• Spanish retail-equipment maker CREACIONES MARSANZ, S.A. (Nexxus Iberia) acquired Portuguese firm Joalpe International, a specialist in baskets, wheels and visual merchandising systems. The integration boosts Marsanz’s plastic-injection capabilities and complements its range.

• Sweden’s Netmore acquired Bilbao-based Arson Metering to deepen offerings for water and gas utilities. Arson manages >500,000 meters, with deployments across 200+ municipalities in Spain, Italy, France and Greece, and has a backlog of ~350,000 meters.

• Barcelona-based Saesco Medical Group (Miura Partners) entered Germany by acquiring Rivolution, a company focused on minimally invasive surgery and pain-management solutions. Rivolution’s portfolio includes ultrasound-energy systems, next-gen endoscopic staplers and cryoanalgesia equipment.

 

• Spanish chocolatier Grupo Lacasa took full ownership of Lucar in Tangier, Morocco, where it already held 51% since 2020 via subsidiary Ibercacao. The plant produces cocoa-based spreads, tablets and cocoa powder, reinforcing Lacasa’s presence in North Africa.

• Valencia-based NUNSYS integrated Madrid firms Dayfisa and InforTel Comunicaciones, both with 35+ years in IT consulting, systems integration, telecoms and tech training.

• Bilbao-based DOMINION GLOBAL acquired Cádiz-headquartered Ecogestión de Residuos. It’s DOMINION’s third environmental deal in 2025 and reinforces its Global Dominion Environment division, supporting the goal of €500m in division revenue and leadership in circular-economy services.

 

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