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M&A in Spain in 2025, and outlook for the industrial mid-market in 2026

The Spanish M&A market ended 2025 with fewer, but larger-ticket deals- a pattern shift which is already having an impact on how transactions are being planned for 2026. Successful transactions will require more rigorous planning, carefully managed processes and coherent sale structures.

The invisible complexity of multi-seller transactions

Multi-seller deals present distinct challenges which arise from the need to integrate diverse interests into a common project. They illustrate the role that firms need to play if they are to differentiate themselves through the integration of expertise and alignment of interests.

Critical considerations for executing M&A transactions in Spain in 2025

The Spanish M&A landscape is shifting towards fewer, high-value deals. As investors become more selective, execution success requires integrated advice which covers all bases, from transaction structuring to tax planning, corporate culture and technology aspects.

Record high number of insolvency filings in Spain

The first quarter of 2025 saw the worst corporate insolvency figures in Spain since 2013, when we were in the middle of a recession. However, there is hope: The legal framework has never been more favourable for preventive restructurings, but companies need to take preventive action.

The average value of M&A transactions soars in 2025

Average deal value is growing because investors are focusing on premium assets. In order to attract capital, good companies need to transform into exceptional targets.

Strategic advisory is the silent advantage in 2025

As regulatory volatility, new tariffs and technological pressure squeeze margins, strategic advisory has become a quiet but essential lifeline.

Strategic opportunities in M&A

Geopolitical factors, large deals and markets operating at different speeds: first-half data for 2025 confirms that we are in a paradoxical environment. And that means huge potential, if you know how to read it.

The evolving sophistication of M&A activity in Europe

The evolution of M&A deal structures reflects a significant shift in how transactions are negotiated, managed, and closed. In response, strategic and financial players have fine-tuned their contractual tools to ensure that deals remain viable, and to shield against risks.

Good prospects for Spanish M&A in 2025

2025 has been labelled a “retreat year.” But fewer deals do not equate to fewer opportunities. In fact, it is often during difficult years that the best decisions are made. This moment demands good judgement, not paralysis. There is less noise, yes, but also greater clarity.

Corporate reorganisations in the new European macro-economic environment

Restructuring in Europe in 2025 is as much a business decision as it is a legal, tax and political one, and many companies are opting for internal restructurings which do not necessarily relate to financial distress.

The impact of AI in M&A negotiations

The AI market is estimated to reach an approximate value of USD100 billion in 2025, with projections which point to this figure potentially doubling towards 2030. This level of growth reflects the increasing adoption and application of AI across many areas, including M&A.

M&A: Adapt or Perish

In 2025, the M&A landscape has changed. Restrictions are beginning to ease, and buyers are back in action. Companies which continue to operate under the same criteria as five years ago run the risk of being left behind.

Why is 2025 going to be a great year for M&A in Spain?

2025 promises to be a year full of opportunities for M&A in Spain, but also full of challenges. Companies must combine strategic vision with impeccable execution to capitalise on this moment.

Key considerations when selling a company in 2025

The sale of a company is not simply a transaction, it´s a transformative process for both the owner and the business. In 2025 having a clear strategy, a precise understanding of the market and impeccable execution will be essential requirements for achieving a successful transfer.

Spain remains a reliable destination for M&A

In the first 8 months of 2024, the Spanish M&A market has shown its capacity to reinvent itself, adapt and offer new opportunities for those that believe in its robustness.

How to prepare for a business sale

Selling a company is not a decision to be taken lightly, or a process which can be improvised. A transaction of this calibre requires meticulous and solid planning which maximises value and minimises risk.

Due Diligence as a strategic necessity in M&A transactions

Due diligence has evolved from a simple validation process to a strategic tool which is necessary to ensure the long-term success of an M&A transaction.

Corporate restructurings under new regulations

With the recent tightening of merger and acquisition regulations in both Europe and the United Kingdom, the challenge of corporate restructuring has reached new dimensions.

The impact of M&A regulations in Europe and the UK

As regulators continue to strengthen their oversight, we are likely to see an increase in approval requests and the number of conditions imposed on M&A transactions. However, companies that prepare adequately and adopt a proactive approach will be better positioned to seize opportunities.

The impact of EU regulations on M&A transactions

M&A transactions in Europe are heavily influenced by a complex set of regulations that companies must know extremely well in order to protect themselves and ensure compliance.

Key Issues and Perspectives in M&A in Spain

As inflation slows down and interest rates stabilise, we observe an increase in liquidity and a revival in M&A activities. Companies are now seeking to diversify their risks and capitalize on opportunities in a market that appears more promising.

M&A and key points in the integration of a start-up into an established company

Mergers and acquisitions are a cornerstone of growth and innovation in the corporate world. Having the capacity to tackle their challenges effectively and with a human touch will be decisive for companies seeking to lead in the era of digital transformation and constant innovation.

Technology and ESG criteria are reshaping investment strategies

The focus on ESG criteria has redefined decision processes in M&A. Companies do not only seek financial returns, but are also considering the social and environmental impact of their investments.

The necessary shift of Due Diligence towards sustainability

In 2024, due diligence and sustainable corporate governance will remain areas of critical interest for EU companies. The adoption of the CS3D and related regulations will not only set new legal standards, but also drive companies towards greater sustainability and corporate responsibility.

Global Outlook for M&A in 2024

We expect a considerable increase in M&A for 2024, thanks to possible international tax cuts, greater economic certainty and the accelerated take-up of emerging technologies.

A strategic vision for M&A in 2024

With a predicted EUR180 million destined for acquisitions, next year promises to be a period of significant transformation for large Spanish and European companies.

M&A: Trends and Experience

As the second half of 2023 approaches its end, the M&A landscape is characterised by a refined strategic focus. Mid-cap transactions have become the foundation of the M&A market, allowing companies to gradually advance their transformation strategies.

Generational change as a driver of M&A transactions

In Spain, 1.1 million SME´s are facing the challenge of generational replacement

The rebound of M&A in 2023

After a slow-down due to the war in Ukraine, 2023 is witnessing a notable resurgence in the Spanish M&A market. There is still much uncertainty, but also cause for optimism for the second half of the year.

A legislation update on foreign investment in Spain

Thanks to recent reforms, foreign investors will be able to reduce burdens and administrative barriers, while response and resolution times are reduced.