• Ardian acquires a majority stake in Fermax (MCH Private Equity, Eurazeo), a Valencia-based leader in intercom/video door entry, home automation and access-control technologies, serving collective housing and smart buildings. Founded in 1949, Fermax manufactures in Valencia and sells in more than 85 countries.
• CIE Automotive has agreed to buy 100% of ALUDEC SA for €200 million, paid in cash and financed from CIE’s available liquidity, to enter the decorative components niche.
• Ardabelle Capital has agreed to acquire PLYMAG – Agronutrientes (Tresmares Capital), a Spanish company specializing in agricultural biostimulants and biosolutions, differentiated by seaweed-based solutions.
• Montefiore Investment has agreed to acquire a majority stake in Between Technology, a Spanish technology and engineering consulting firm, marking Montefiore’s first deal in Spain. Seller The Talent Club (which previously owned 80%) and Between’s management will reinvest and remain shareholders alongside Montefiore. Between generates around €100 million in annual revenue, with EBITDA of roughly €10 million, employing more than 1,300 people.
• Indra has agreed to acquire WAKE-ENGINEERING, the unmanned-systems unit of Spanish Grupo CPS, strengthening its push into drones as part of its defense growth strategy.
• Molins has agreed with Semapa to acquire 100% of Secil for €1.4bn, a deal expected to be earnings-accretive from year one through synergies and strong cash generation. Secil, headquartered in Lisbon, operates in eight markets with about 10m tonnes of annual cement capacity and a portfolio spanning cement, concrete, aggregates, construction solutions and circular economy.
• Italian group RINA has acquired 100% of Gloval, Spain’s third-largest real-estate valuation firm, in a full buyout from private equity funds Charme Capital Partners and Miura Partners, as well as Gloval’s founders and management.
• Keensight Capital-backed Inke, a Spanish manufacturer of inhalation APIs and highly potent APIs (HPAPIs), has acquired Pharmanoid from GENTEC Pharmaceutical Group.
• BALIO Capital has acquired Spanish meat-prepared foods producers Caleya y Santiago (Adobos Caysan) and Embutidos La Granja, S.L in its first food-sector investments.
• India-based seafood multinational Infifresh Foodtech (Captain Fresh) has agreed to acquire FRIME, S.A.U., a Catalan family-owned tuna processor and distributor. Founded in 1977, Frime sells yellowfin tuna loins and portions under the Koldfin and Frime brands. The company posted €172m revenue in 2024 with €7.1m EBITDA and expects about €180m revenue and ~€10m EBITDA in 2025, employing 500 people.
