Week 40 (2024) in M&A and Private Equity
• Babel Group has entered a strategic partnership with Mubadala Capital. Mubadala will take a majority stake in Babel, supporting its growth strategy “Hyperspace 2029,” aiming for €1 billion in revenue by 2029. This move follows the exit of Babel’s former investor, Aurica Capital.
• DOMINION GLOBAL has reached an agreement to sell its industrial services division to Serveo (Portobello Capital). This deal includes Dominion’s operations in industrial services such as maintenance, environmental services, and specialized coatings.
• El Corte Inglés has expanded into the data center business by acquiring the remaining 50% of KIO Networks España, a move that complements its diversification strategy. The company, which already held a 50% stake in the Spanish subsidiary of Mexico’s KIO Networks, now fully controls the data center operator.
• Galenicum (Peninsula Capital Advisors) has acquired a portfolio of dermatological products from Ferrer, which includes brands like Perme-cure, Retirides, Ciclochem, and Peitel, covering treatments for skin inflammation, fungal infections, and scabies.
• Belgian truffle specialist Gudrun Group has been acquired by Spanish chocolate producer Natra (CapVest), which is a portfolio company of the private equity firm CapVest.
• AGQ Labs (Portobello Capital), has acquired the Portuguese laboratory LABIAGRO – Laboratório Químico, Alimentar e Microbiológico. This acquisition strengthens AGQ Labs’ presence in Portugal, where Labiagro has been operating for over two decades.
• Tubos Reunidos Group has sold non-productive facilities in Sestao and Pamplona for €18.75 million. The Sestao facilities were acquired by GESCRAP, a company focused on sustainable material recovery. The Pamplona site, previously closed by Tubos Reunidos in 2022, was sold to Servicios Ecológicos Navarra, a waste management company.
• Globant, an Argentina-based technology company, has acquired Spanish IT services consulting firm Common Management Solutions.
• ÁNGEL CAMACHO has acquired the Portuguese company Maçarico, SA as part of its strategic plan running until 2026. Maçarico, founded in 1930, specializes in products such as pickled vegetables, condiments, lupins, and Piri-Piri sauces, and operates in over 50 countries.
• COLLOSA has acquired a 75% stake in the Asturian group JCN Construcciones. This acquisition allows Collosa, a construction company from Valladolid, to expand its service portfolio by incorporating JCN’s expertise in industrial maintenance, particularly in hydrodemolition and structural concrete repair.
