What have been the most important Mergers and Acquisitions transactions in Spain this week?”
• US PE TPG is investing €65m in French education group Healthacademia, owner of Spanish MIR exam school AMIR. The deal values Healthacademia at about €445m. Healthacademia generates around €28m of EBITDA. G Square Healthcare Private Equity LLP, linked to the Gallardo family (Almirall), remains majority shareholder.
• Vidrala has signed a binding agreement to acquire 100% of Chilean glass container manufacturer Cristalerías Toro Spa, based in the Santiago metropolitan area. The target supplies food and beverage clients, many of them global and complementary to Vidrala’s customer base.
• Diana Capital has acquired a minority stake of around 40% in Revestech, an Alicante-based specialist in advanced waterproofing systems for roofs, terraces, bathrooms and other wet areas. Revestech, founded in 2006, expects 2025 sales of about €15m and EBITDA above €4m.
• Avior Capital has acquired a majority stake in Eslava Plasticos, a Valencia-based player in mechanical recycling of post-consumer plastic waste.
• French family-owned investment group Dellen has entered the Spanish market by acquiring GEOINTEC, a Madrid-based engineering firm specialised in geotechnics, foundations and hydraulics for renewable-energy projects.
• Carbyne Equity Partners has acquired SUANNUTRA, the nutraceutical ingredients business of Suanfarma (ARCHIMED).
• Flamasats (Puig family), has acquired VELAS MARTINEZ MORALES S.L., Spain’s largest manufacturer of scented candles. The Toledo-based company supplies major retailers and private-label clients and is considered a reference player in the Spanish candle market.
• CLUN Cooperativa Rural Galega and Leche Celta have agreed to create CoRural, a new dairy group that will become the third-largest milk collector in Galicia, behind Lactalis and Capsa. CoRural will bring together 1,400 producers, 800 employees and eight plants, generating around €600m in annual revenue while keeping brands such as Celta, Feiraco, Clesa, Únicla and La Vaquera.
• Grupo de Incendios (Abac Capital), has acquired Bombas BCM, a Jerez de la Frontera–based specialist in certified fire-fighting pressure pump groups.
• Ecuador-based shrimp producer OMARSA S.A. has acquired a 51% stake in Spanish shrimp processor PESCAFÁCIL. Pescafacil operates a plant in Burgos and expects to market around 5,000 tonnes of product in 2025, with sales slightly above EUR 35m, up from EUR 33.7m in 2024. Omarsa has c.170,000 tonnes of volume and nearly USD 800m in revenue.
