• Nazca Capital has acquired a majority stake in Ravenloop, a Madrid-based software company specialising in predictive cyber intelligence using AI for Defence and National Security.
• Idilia, owner of Cola Cao and Nocilla, has completed its first international acquisition by buying UK premium milkshake producer Shaken Udder Ltd.
• Corporación Financiera Azuaga has taken an equity stake in Arogreen, a Barcelona-based producer and distributor of raw materials for the aromas and fragrances sector, to accelerate its international expansion and boost production capacity.
• Corpfin Capital has agreed to divest Barcelona-based coffee & bakery chain el Fornet after more than a decade of ownership, selling the group to Muzinich & Co. and the company’s management team.
• Everwood Capital, through its Transport & Logistics fund, has acquired majority stakes in three Spanish international express transport companies: Arin Express, Trans Paneuropa and HTG Express, all based in Irún.
• IPCOM, a pan-European specialist distributor of insulation and energy-efficiency solutions, has agreed to acquire Fanair S.L., a Madrid-based distributor of ventilation, air conditioning, heating and insulation products.
• ASICS will acquire Deporticket, a Madrid-based race registration platform and Spain’s second-largest sports event platform. The deal supports ASICS’ Mid-Term Plan 2026 priority of “Expanding the Running Ecosystem”.
• Zotefoams, a UK-based specialist in advanced technical foams, has acquired 100% of O.K. Company, S.A. (Overseas Konstellation Company S.A.), a Spanish producer of high-quality technical foams, for up to €36m in cash.
• Indutrade AB has acquired 100% of Aplicaciones Técnicas Maquinsa, a Madrid-based technical trading company specialising in single-use components and flow products for the pharmaceutical, food and beverage industries in Spain.
• PyD, a Spanish luxury perfume and cosmetics group, has acquired a majority stake in conscious beauty brand Twelve Beauty, founded in 2012 by pharmacist and cosmetic chemist pedro catala.
