Three 2026 Transactions That Capture the State of the Corporate Market
So far in 2026, at CONFIANZ we have advised on three corporate transactions that clearly reflect the current state of the Corporate & M&A market: selective deal activity, investors and industrial groups focused on high-quality assets (sustainable margins, recurring revenues, and defensive market positioning), and transaction processes increasingly designed to minimise risk through clear, well-structured deal frameworks.
In our own case, we have advised on three transactions that clearly capture the state of the market in 2026: two involving consolidation in the B2B industrial supply sector, and one representing a strategic move in plastics recycling.
Different sectors, but with one common denominator: when there is a high-quality asset and a clear industrial rationale, the challenge is no longer simply getting the deal done. It is about designing and structuring the transaction with certainty, aligning it with the parties' strategic objectives, and bringing it to a successful close for all parties, without surprises.
1) B2B Industrial Supply: Growth Through Geographic Reach and Operational Scale
Our first Corporate transactions of 2026 took place in the B2B industrial supply sector, a market where value is driven by three key factors: geographic reach, service and logistics capabilities, and strong technical and commercial customer relationships.
Against this backdrop, we advised on a strategic integration involving the acquisition of majority stakes in two complementary businesses with operations in Andalusia (Córdoba area) and the Levante region (Valencia area).
The acquired stakes —80% and 87%— are more than just a detail: they reflect a strategy of securing control to accelerate integration and decision-making while preserving operational continuity. For the buyer (a European industrial group strengthening its presence in Spain), the benefits are immediate: broader geographic coverage, enhanced service capabilities, and a solid platform for continued, sustainable growth.
For the selling families, the strategic rationale is equally clear: the entry of an industrial partner, integration into a group with over EUR20 million in revenue, a presence in south-eastern Spain, more than 75 professionals, and an expansion plan with national ambitions. Transactions of this kind make it possible to combine liquidity with continuity of the business project, turning a company's “next step” into a genuine step-change in scale.
What matters most, however, is what cannot be seen from the outside: months of work to align expectations, ensure certainty, and close a complex transaction with a robust structure that is consistent with the business and balanced for all parties.
2) Plastics Recycling: Integration into a Market Leader with a Focus on Seller Protection
The third transaction was completed in the plastics recycling sector, an industry benefiting from strong structural tailwinds driven by regulation, industrial demand and increasing competitive pressure to secure supplies of recycled raw materials. In this case, we advised the shareholders of a specialist recycling company on the sale of an 80% stake to one of Europe's largest producers in the sector, in a transaction valuing the business at EUR16 million.
Here, the key was not simply the price, but the the design of the completion process. Our advice covered the entire transaction from the seller's perspective: From the initial preparation and transaction structuring, to identifying and coordinating with investors, to the full negotiation process, which included the implementation of a completion accounts mechanism (essential to ensure an accurate adjustment of cash, debt and working capital).
In addition, a call/put option was structured and negotiated over the remaining 20% stake, a crucial element in shaping the transaction's "second phase", protecting incentives, and providing a clear path to either a full exit or complete integration.
Particular mention should be made of the liability framework, which was designed to protect the seller through clearly defined limits: qualitative (based on the caveat emptor principle), quantitative (with a cap of around 20% of the purchase price), and time-based (a two-year claims period). In M&A, this is the kind of work that makes the difference between a closing that provides peace of mind and one that leaves the seller exposed to unnecessary risk.
3) What These Three Transactions Tell Us About the Market in 2026
These transactions confirm three clear trends:
- The market continues to reward companies with strong market positions and proven execution capabilities.
- Industrial consolidation continues to be driven by regional integration, expanding geographic reach and improving efficiency.
- The real value lies in ensuring a smooth closing of the transaction: deal structure, tax planning, completion mechanisms and liability provisions are all key in determining the final outcome.