Acquisition History / Search Funds / Spain

Search Fund Acquisitions in Spain

89 publicly known companies in Spain acquired by search funds.

  1. 14Dreamsacquired by Criluz Capital · Precious metals retail (cash for gold) · SpainAcquired by Criluz Capital (Pablo Paez and Gonzalo Fernandez). Backed by Beka Alpha Search Funds, Celium Capital, Gallium Growth, Legacy Partners, Mayrit Capital Partners, Moonbase Capital, Novadvice, Pinvest Ventures, Secways, Vonzeo Capital. Source: https://searchfundsnews.com/criluz-capital-enters-the-precious-metals-industry-through-spanish-acquisition/2026Undisclosed
  2. 2Ciboulette & Domenicoacquired by Ayete Partners · Catering · SpainPremium wedding/social (Ciboulette) and corporate (Domenico) catering group Backed by Alza Capital Partners, Aurica Capital, Dellin Investments, Ethos Partners, Evolutiq, Istria Capital, JB46, Vonzeo, Marc Bartomeus. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2026Undisclosed
  3. 3Ciboulette and Domenicoacquired by Ayete Partners (Ayete Catering Group) · Catering / food services · SpainMadrid premium catering group: Ciboulette (weddings/social events) and Domenico (corporate catering) Backed by Arada Capital Partners, Istria Capital, Promax Capital Investments. Arada lists 'Ayete Catering Group ... Acquired in 2026'; Istria lists Villanueva & Benito as CEOs of Ciboulette & Domenico; Promax lists Ayete Partners (2024) with the same searchers. Source: https://aradacp.com/2026Undisclosed
  4. 4Envases Sanz Beldaacquired by Preludio Partners · Rigid plastic packaging manufacturing · SpainAcquired by Preludio Partners (Andres Garrido and Curro Fita). Backed by Evolutiq, Secways, Spectra Investments, Ventura Search Capital, Vonzeo Capital. Source: https://searchfundsnews.com/preludio-partners-acquired-100-of-envases-sanz-belda/2026EUR11.9M in revenue in 2024 and EUR2.5M in EBITDA
  5. 5Escuela Europea de Coaching (EEC)acquired by Maruna Capital · Training / coaching · SpainInternational executive-coaching training/consultancy; ~EUR5M revenue (2025) Backed by Alejandro Rodríguez-Carmona, Cabiedes Capital, José I. Bescós, Mugello Inversiones, SFClub, TMB3. Source: https://searchfundsnews.com/maruna-capital-invests-in-escuela-europea-de-coaching-in-spain/2026~EUR6M
  6. 6Grupo Securityacquired by Libertum Capital · Security and video surveillance systems · SpainAcquired by Libertum Capital (Juan Bolívar and Jorge Giménez-Arribas). Backed by Cerralvo Capital, Alza Capital Partners, Vonzeo Capital, BekaFinance, Istria Capital, ONEtoONE Asset Management, Atiud, Tres Coronas, Enrique Locutura, Jose Antonio Larraz, Will Thorndike, Lukas Matzinger. Source: https://searchfundsnews.com/libertum-capital-acquires-spanish-grupo-security/2026Enterprise value estimated at approximately €10M
  7. 7Grupo Security (Master Security 3000, Gestion y Control de Lorca, Gestion de Seguridad y Control, Ponce y Moya Servicios)acquired by Libertum Capital · Security and video surveillance services · SpainAcquired by Libertum Capital (Juan Bolivar and Jorge Gimenez-Arribas). Backed by Alza Capital Partners, Atiud, Beka Finance, Cerralvo Capital, Enrique Locutura, Istria Capital, Jose Antonio Larraz, Lukas Matzinger, ONEtoONE Asset Management, Tres Coronas, Vonzeo Capital, William Thorndike. Source: https://searchfundsnews.com/libertum-capital-acquires-spanish-grupo-security/2026Undisclosed
  8. 8Ingeniería y Prevención de Riesgosacquired by Cneo Partners · Safety consulting · SpainConstruction-sector safety coordination and risk-prevention specialist (since 1996) Backed by Relay Investments, Istria Capital, Vonzeo Capital, Ethos Partners, Evolutiq, Beka Alpha Partners, Alfonso Blohm, Felipe Corcuera, Joachim de Belgique, Tobias Raeber, Bruno Lea. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2026Undisclosed
  9. 9Letro, Cartondis and Trelacoacquired by Targos Capital · Corrugated cardboard packaging · SpainAcquired by Targos Capital (Diego Canales and Nicolas Romo). Backed by ALX Hormes Capital, Colca Capital, Grupo Santa Marta, Iberica Investment Partners, JB46, Legacy Partners, Legatum, Pina Capital, Secways, Soare Holdings, Ventus Capital, Vonzeo Capital. Source: https://searchfundsnews.com/targos-capital-acquires-100-of-a-spanish-corrugated-cardboard-packaging-group/2026Undisclosed
  10. 10Letro, Cartondis, and Trelaco (corrugated cardboard packaging group)acquired by Targos Capital · Corrugated cardboard packaging · SpainAcquired by Targos Capital (Diego Canales and Nicolás Romo). Backed by JB46, Vonzeo Capital, Grupo Santa Marta, Pina Capital, Iberica Investment Partners, Legatum, Secways, Legacy Partners, Colca Capital, Soare Holdings, ALX Hormes Capital, Ventus Capital. Source: https://searchfundsnews.com/targos-capital-acquires-100-of-a-spanish-corrugated-cardboard-packaging-group/2026Undisclosed
  11. 11Super's Dianaacquired by Rigi Capital · Animal health / veterinary pharmaceuticals · SpainAcquired by Rigi Capital (Jorge Oriol). Backed by Aurica Search Fund, Institut Catala de Finances (ICF), Itaca Capital Partners, Karim Zahran, Moonbase Capital. Source: https://searchfundsnews.com/rigi-capital-acquires-supers-diana-in-spain/2026$17.4M
  12. 12Vega Pielacquired by Polsso Capital · Leather · SpainRaw-hide / leather trading company Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2026Undisclosed
  13. 13Grupo Fireacquired by Iberian Ventures · Fire protection services · SpainSpanish fire-protection conglomerate (extinguishers, hose equipment, installation and regulatory maintenance), 35+ years Backed by Itaca Capital Partners. Itaca lists 'Consolidating the fire protection industry' Led by Iberian Ventures, linking to fire.es (Grupo Fire). Source: https://itaca.capital/companies/2025Undisclosed
  14. 14GSE Composystem and Setrosonacquired by Phoenix Rise Capital; Orion Capital · Aerospace and defence ground support equipment · SpainAcquired by Phoenix Aerospace (Phoenix Rise Capital and Orion Capital). Backed by Atiud Capital, Barrilero Legal Angels, Beka Finance, Cabiedes Inversiones, Enrique Locutura, Eugenio Rodriguez, Knudsen family, Leon Bartolome, ONEtoONE Asset Management, Secways. Source: https://searchfundsnews.com/trio-of-searchers-at-phoenix-aerospace-acquires-2-spanish-aerospace-companies/2025$16.8M
  15. 15Gutmaracquired by Lauria Partners · Aerospace and defence precision engineering · SpainAcquired by Lauria Partners (Miguel Camino and Alvaro Horstmann). Backed by Hyperion. Source: https://searchfundsnews.com/lauria-partners-the-aerospace-defense-focused-sf-acquires-gutmar/2025Undisclosed
  16. 16Hermex Ibericaacquired by QUO Capital Partners (Quo Inversion) · School furniture / equipment · SpainFurniture and educational equipment for classrooms and playgrounds Backed by Promax Capital Investments. Registry (empresia.es/empresa/hermex-iberica/) shows Canellas and Feliu de la Penya appointed joint directors on 14 Nov 2025. Source: https://www.promaxcapitalinvestments.com/search-funds-variable2025Undisclosed
  17. 17Hermex Ibéricaacquired by Quo Inversión · School furniture · SpainCatalan school furniture and educational equipment maker/distributor; EUR11.5M revenue, EUR1.4M EBITDA (2023) Backed by Alza Capital Partners, Cerralvo Capital, Going Investment, Istria Capital, JB46, Turtle Capital, Vonzeo Capital, Gernot Eisinger, Thomas Büehler, Luis Camilleri, Marc Bartomeus, José María Clotet. Source: https://searchfundsnews.com/duo-sf-quo-inversion-acquires-a-spanish-sme-in-the-school-furniture-and-equipment-sector/2025Undisclosed
  18. 18Hincado Directoacquired by Nutria Capital · Renewable-energy construction · SpainBadajoz pile-driving contractor for photovoltaic plants; EUR1.5M revenue, EUR0.9M EBITDA (2024) Source: https://searchfundsnews.com/nutria-capital-acquires-spanish-hincado-directo/2025Undisclosed
  19. 19Hispania Educación y Comunicaciónacquired by Relevian · Education · SpainValencia Spanish-language school for international students; ~EUR5M sales, ~EUR2M EBITDA Backed by Alza Capital, Atiud Capital Center, Aurica Search Fund, Aurica Search Fund (Aurica Capital), Evolutiq, George Jankovic, Heritage Search Partners, Kinderhook Partners, Martell Capital Partners. Source: https://searchfundsnews.com/relevian-acquires-spanish-language-school-hispania/2025Undisclosed
  20. 20Itegra Gestionaacquired by Enlace Capital · Insurance services · SpainValencia sports-insurance TPA / digital claims platform serving ~400,000 federation members Backed by Grupo Santa Marta. Source: https://www.grupoaseguranza.com/noticias-de-seguros/enlace-capital-adquiere-gestora-seguros-deportivos-itegra2025Undisclosed
  21. 21La Salaacquired by Anval Capital · Agriculture · SpainGrafted horticultural plants producer (agro) Backed by Moonbase Capital, ONEtoONE Asset Management, Turtle Capital, Secways, Itaca Capital Partners. Source: https://searchfundsnews.com/miguel-angel-anton-co-founder-of-anval-and-co-ceo-of-la-sala/2025Undisclosed
  22. 22Let's Healthacquired by Acacia Capital · Healthcare marketing · SpainHealthcare marketing and communication agency for pharma (founded 2007) Backed by Alza Capital, Beka Finance, Cabiedes Inversiones, Enrique Locutura, Istria Capital, JB46, Jan Woitschatzke, Jürgen Rilling, León Bartolomé, Luis Camilleri. Source: https://searchfundsnews.com/acacia-capital-completed-the-acquisition-of-lets-health/2025Undisclosed
  23. 23Manufacturas Deportivasacquired by Albor Capital · Playground equipment · SpainCantabria playground, urban-furniture and sports-equipment maker; EUR6.8M revenue, EUR2.3M EBITDA (2023) Backed by Atiud Capital Center, Beka Alpha Search Funds, Beka Finance, Cabiedes Inversiones, David Urteaga (Urtelar Holding Empresarial). Source: https://searchfundsnews.com/albor-capital-closes-the-buyout-of-spanish-company-manufacturas-deportivas/2025~EUR8M
  24. 24Pentatel Comunicacionesacquired by Sisal Capital · AV integration · SpainAudiovisual integration / IT infrastructure consultancy (clients: Bankinter, Santander, BBVA) Backed by Beka Alpha Search Funds, Cabiesa, LEN Investments, León Bartolomé, Enrique Locutura, Mugello Inversiones, Grupo Santa Marta, Alejandro Rodríguez Carmona. Source: https://searchfundsnews.com/sisal-capital-has-bought-an-sme-specializing-in-audiovisual-integration-in-spain/2025Undisclosed
  25. 25Plásticos Hernanzacquired by KG Capital · Plastics manufacturing · SpainPlastic injection moulding (reusable HoReCa cups); EUR8.3M revenue, EUR3.6M EBITDA (2023) Backed by Beka Finance, Whitehole. Source: https://searchfundsnews.com/kg-capital-acquires-spanish-sme-plasticos-hernanz/2025<EUR10M
  26. 26Semilleros La Sala (Viveros La Sala)acquired by Anval Capital · Agriculture / horticulture · SpainHorticultural nursery producing grafted and vegetable seedlings for professional growers, 30+ years in business Backed by Itaca Capital Partners, Moonbase Capital, ONEtoONE Asset Management (ONEtoONE Great Searchers), Relay Investments. Itaca lists the seedling nursery 'Led by Anval Capital' linking to viveroslasala.com; Moonbase lists 'La Sala' among acquisitions and Anval's founders under ACQUIRED; ONEtoONE names Semilleros La Sala with CEOs Perez del Val & Anton. Relay backed the search phase. Source: https://itaca.capital/companies/2025Undisclosed
  27. 27Termotur and Airnou (Grup Nextclima)acquired by Terra Firma Capital · HVAC (heating, ventilation, air conditioning) services · SpainAcquired by Marc Giné (Terra Firma Capital). Backed by Istria Capital, ONEtoONE Asset Management, Ethos Partners (now Orca Equity Partners), Beka Finance, Cabiedes Inversiones, Luis Camilleri, Secways, Turtle Capital, Xavier Pladellorens. Source: https://searchfundsnews.com/spanish-searcher-buys-2-companies-in-the-hvac-sector/2025Undisclosed
  28. 28Visual Counteracquired by Divisadero Capital · People-counting sensors and analytics · SpainAcquired by Divisadero Capital (Fernando Garcia Benavides). Source: https://searchfundsnews.com/divisadero-capital-acquires-spanish-engineering-company-visual-counter/2025Undisclosed
  29. 29Adinoracquired by Pleamar Partners · Metal products · SpainValladolid maker of aluminium joinery/hardware for furniture and DIY; ~EUR10M revenue, ~20% EBITDA Backed by ALZA Capital Partners, Alza Capital Partners, Arada Capital Partners, Atiud, Atiud Capital Center, Beka Alpha Search Funds, Tres Coronas Capital, Turtle Capital. Source: https://searchfundsnews.com/pleamar-partners-completes-the-acquisition-of-adinor/2024Undisclosed
  30. 30Alonso Luz y Gasacquired by Pontem Capital · Installation services · SpainAragón electricity/gas/water installation and maintenance company; 70+ employees, ~EUR5.3M revenue Backed by Alex Tuya, Enrique Locutura, Iniginy Capital, Inversiones Cabiedes, Inversiones Cabiedes (Jose and Luis Martin Gutierrez de Cabiedes), Javier Martín Chocarro, Tomás Barrilero. Source: https://searchfundsnews.com/pontem-capital-acquires-spanish-company-alonso-luz-y-gas/2024~EUR4M (EV)
  31. 31Azeleracquired by Imagine+ Inversiones · Automotive software / marketplace · SpainSubscription ERP and marketplace for the reused auto-parts industry (280+ authorised dismantlers, 4,000 suppliers) Backed by Ambit Partners, Arada Capital Partners, Promax Capital Investments. Ambit's site data (JS bundle) states 'Nicolas Goni launched his search fund in 2021, Imagine+ ... He acquired Azeler in 2024'. Source: https://www.ambit.partners/2024Undisclosed
  32. 32Azeler Automociónacquired by Imagine+ Inversión · Automotive software · SpainSoftware/marketplace and ERP for scrapyards and recovered auto-parts distributors Backed by SFClub, Ambit Partners. Source: https://www.ambit.partners/our-companies/azeler2024Undisclosed
  33. 33Cartonajes Limousinacquired by Lemnos Capital · Packaging · SpainTolosa (Gipuzkoa) corrugated-cardboard packaging maker, 100+ years old; EUR11M sales Backed by 9T Capital, Atiud Capital, Atiud Capital Center, Beka Alpha Search Funds, Beka Finance (Beka Alpha Search Funds), Itaca Capital Partners, Moonbase Capital. Source: https://searchfundsnews.com/lemnos-capital-acquired-100-of-cartonajes-limousin/2024Undisclosed
  34. 34Fomento de Franquicias SLacquired by Global Vernius · Laundry services · SpainMadrid laundry services company for the hotel industry Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2024Undisclosed
  35. 35Ibérica Semiconductores de Potencia (ISP)acquired by Kramer Inversiones · Electronics distribution · SpainPower-electronics representative/distributor; EUR13M revenue, 12% EBITDA margin Backed by Beka Alpha Search Funds, Cabiedes Inversiones, Tres Coronas, Mugello Inversiones, León Bartolomé. Source: https://searchfundsnews.com/kramer-inversiones-acquires-iberica-semiconductores-de-potencia-a-leading-power-electronics-distributor-in-spain/2024Undisclosed
  36. 36Milton Educationacquired by Ada Capital · Edtech · SpainEducational publisher / edtech for English learning, 500+ schools; EUR3.5M revenue, EUR1.5M EBITDA (2023) Backed by Cerralvo Capital, George Jankovic, Kinderhook Partners, Mugello Inversiones, TTCER Partners, Tres Coronas. Source: https://searchfundsnews.com/spanish-sf-ada-capital-acquired-milton-education/2024Undisclosed
  37. 37Pago de Tharsysacquired by Dangalena Capital · Wine · SpainRequena (Valencia) sparkling-wine (DO Cava) producer; ~EUR5M sales, ~EUR1.3M EBITDA Backed by Agirax, Cloudbreak, Mugello Inversiones, Novidam, Tres Coronas, Enrique Locutura, Ignasi Botet, Francisco Javier Peña, José Luis de Mora, León Bartolomé, Gernot Eisinger, Ángel Muñoz, Alejandro Rodríguez Carmona, Bart Van Hoek. Source: https://searchfundsnews.com/dangalena-capital-acquires-the-cornerstone-of-its-build-up-strategy-for-premium-wine-producers-in-spain/2024~EUR8M (EV)
  38. 38Prestige Softwareacquired by Oportuna Capital · Hospitality software · SpainBarcelona hotel-management / PMS software provider (founded 1997) Backed by SFClub. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2024Undisclosed
  39. 39Trans Sevacquired by Grupo Bocanegra · Logistics · SpainAndalusian freight-transport and logistics company, 100+ vehicles, >EUR8M revenue Source: https://searchfundsnews.com/grupo-bocanegra-executes-acquisition-in-logistics-sector-in-record-time/2024Undisclosed
  40. 40Amix (Amix Levante)acquired by Axias Partners · Healthcare / nutrition · SpainSports-nutrition products company Backed by Beka Alpha Search Funds, Istria Capital. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2023Undisclosed
  41. 41Amix Levanteacquired by Axias Partners · Sports nutrition distribution · SpainDistributor of the Amix sports-nutrition brand (supplements for athletes and sports clubs), Valencia region Backed by Promax Capital Investments, JB46, Istria Capital, ALZA Capital Partners, Atiud Capital Center, Beka Alpha Search Funds, Moonbase Capital. Registry (empresia.es/empresa/amix-levante/) shows Axias Search Partners SL as sole shareholder from 14 Sep 2023. Source: https://www.promaxcapitalinvestments.com/search-funds-variable2023Undisclosed
  42. 42Auto-Maticacquired by Aretê Management & Capital Partners · Automotive services · SpainMadrid automatic-transmission maintenance and repair specialist; ~EUR5M revenue, ~20% EBITDA Backed by Cabiedes, SFClub, Vonzeo Capital. Source: https://searchfundsnews.com/arete-management-capital-partners-acquired-the-spanish-firm-auto-matic/2023Undisclosed
  43. 43Dental Ibéricaacquired by Almond Capital · Dental distribution · SpainDental materials distributor, 35,000 SKUs, ~9,000 clients; EUR20M sales, ~EUR2M EBITDA Backed by Nzyme. Source: https://searchfundsnews.com/sf-almond-capital-relies-on-nzyme-to-acquire-dental-iberica/2023Undisclosed
  44. 44Fasten Sistemasacquired by Surca Capital · Industrial · SpainIndustrial fastening systems Source: https://blog.zriveapp.com/p/como-llegar-a-ceo-antes-de-los-352023Undisclosed
  45. 45Industrias del Bierzo (IBSA)acquired by Antesala Capital · Food manufacturing · SpainCaramelised products and preserves for HORECA (add-on to Cropsalsa) Backed by Beka Alpha Search Funds, ONEtoONE Asset Management. Source: https://searchfundsnews.com/beka-alpha-search-funds-has-invested-in-6-spanish-smes-in-less-than-2-years/2023Undisclosed
  46. 46Leaseiracquired by Nobis Capital · Medical devices · SpainGijon-based designer and manufacturer of high-power diode laser hair-removal devices for aesthetic and medical use; sold to Mesia 523 Asset Management SL in Dec 2025 per registry (empresia.es/empresa/leaseir-technologies/) Backed by Moonbase Capital, JB46, Relay Investments, Istria Capital, Promax Capital Investments. Source: https://moonbasecapital.com/from-search-to-acquisition-how-nobis-capital-secured-leaseir-and-began-a-new-chapter/2023Undisclosed
  47. 47Leaseir Medical Lightacquired by Nobis Capital · Medical devices · SpainGijón designer/manufacturer of laser hair-removal medical devices Backed by Moonbase Capital, Istria Capital, Relay Investments. Source: https://moonbasecapital.com/from-search-to-acquisition-how-nobis-capital-secured-leaseir-and-began-a-new-chapter/2023Undisclosed
  48. 48Libnovaacquired by Arcadio Investments · Software · SpainGlobal leader in digital-preservation software, present in 20 countries Backed by Arada Capital Partners, Relay Investments. Source: https://capital-riesgo.es/en/articles/arcadio-capital-respaldada-entre-otros-por-arada-capital-compra-la-tecnol-gica-espa-ola-libnova/2023Undisclosed
  49. 49Novas & Maracquired by Verus Inversiones · Food distribution · SpainFood distribution Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2023Undisclosed
  50. 50Provis (ProviSport)acquired by Aqua Capital Partners · Software · SpainGym and sports-facility access-control and management software, 1,400+ centres Backed by Promax Capital Investments, JB46, MAYRIT Capital Partners. Source: https://www.promaxcapitalinvestments.com/search-funds-variable2023Undisclosed
  51. 51ProviSportacquired by Aqua Capital Partners · Software · SpainSoftware Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2023Undisclosed
  52. 52Rafe Demolicionesacquired by J Capital Partners · Construction · SpainDemolition / construction services Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2023Undisclosed
  53. 53Safetop Innovative Protectionacquired by Luceiro Capital · Industrial safety · SpainIndustrial fall-protection / PPE manufacturer Backed by ALZA Capital Partners, Atiud Capital Center, Tres Coronas Capital. Source: https://luceirocapital.com/en/noticias/legaldealmaker240323.html2023Undisclosed
  54. 54Seysesacquired by Albion Capital · Engineering services · SpainSpanish engineering multinational focused on O&M of PV and wind assets Backed by Atiud Capital Center, Juan Luis Manaute, Novadvice (NovEtA), Novastone Capital Advisors, Novastone Capital Advisors (NCA). Source: https://www.creainversion.com/en/seyses-2023-04-01/2023Undisclosed
  55. 55TC Componentesacquired by Somontano Capital · Electronic components distribution · SpainElectronic components distributor Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2023Undisclosed
  56. 56TodoExtintor and Seguretat SM Alcarràsacquired by Versa Capital · Fire safety · SpainFire-equipment manufacturer (EUR8M sales) and gas-extinguishing services firm (EUR1.5M) Backed by ALZA Capital Partners, Alza Capital Partners, Cabiesa Capital, Ethos Search Capital, Istria Capital, Novidam, Sentinel, Tres Coronas Capital. Source: https://searchfundsnews.com/versa-capital-completes-its-search-process-with-the-acquisition-of-todoextintor-and-seguretat-sm-alcarras/2023Undisclosed
  57. 57Bike Ocasiónacquired by Taurus Capital · Circular-economy retail · SpainOmnichannel refurbished-bicycle retailer, Spain's market leader Backed by Istria Capital, Cerralvo Capital, Liberty Search Ventures, Alza Capital Partners, Afinum, JB46, Vonzeo Capital, Luis Camilleri, Fernando Herrero, Paz Ambrosy. Source: https://searchfundsnews.com/2nd-exit-in-spain-in-2024-seaya-andromeda-acquires-70-stake-in-bike-ocasion/2022Undisclosed
  58. 58Cropsalsaacquired by Antesala Capital · Food manufacturing · SpainArganda del Rey (Madrid) maker of custom sauces for food industry and HORECA Backed by Beka Alpha Search Funds, ONEtoONE Asset Management, Cabiedes Capital. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2022Undisclosed
  59. 59Cropsalsa (now Grupo Cropfoods)acquired by Antesala Capital · Food manufacturing · SpainMadrid maker of custom sauces for Horeca chains and food industry (~EUR 12M sales at acquisition); later merged with IBSA into Cropfoods Backed by JB46, ONEtoONE Asset Management (ONEtoONE Great Searchers), Itaca Capital Partners, ALZA Capital Partners, Beka Alpha Search Funds. Registry shows Antesala Cap SL as sole shareholder of Cropsalsa SA from 20 Apr 2022 with Bolivar and Casanovas as joint directors. ONEtoONE names Cropfoods CEOs Borja Bolivar / Josep Martinez (Casanovas). Source: https://www.empresia.es/empresa/cropsalsa/2022Undisclosed
  60. 60Grupo OHI (Odontología Hospitalaria Integral)acquired by Albatros Equity · Healthcare · SpainHospital dentistry group Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2022Undisclosed
  61. 61Recambio Fácilacquired by Emptio Capital · Automotive marketplace · SpainSpain's leading online automotive spare-parts marketplace/SaaS (~500k transactions, ~EUR40M GMV in 2022) Backed by Beka Alpha Search Funds, Tres Coronas Capital. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2022Undisclosed
  62. 62Termopackacquired by Road Capital · Packaging · SpainIndustrial packaging manufacturer Backed by Turtle Capital. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2022Undisclosed
  63. 63Business Software Groupacquired by Ventura · Software · SpainSoftware company Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2021Undisclosed
  64. 64Cinergiaacquired by Sotavento Capital · Test & measurement equipment · SpainBarcelona designer of AC/DC power-electronics test equipment for EVs, renewables and smart grids, sold to R&D labs worldwide Backed by Itaca Capital Partners, ALZA Capital Partners, Promax Capital Investments. Source: https://itaca.capital/companies/2021Undisclosed
  65. 65Cinergia Power Solutionsacquired by Sotavento Capital · Power electronics · SpainBarcelona custom power-electronics solutions maker (founded 2008) Backed by Inversiones Cabiedes, Itaca Capital, Marc Bartomeus (Albira Investments), Marion Equity Partners (Mark and Bill Egan), AI Global (José Moreno), Simon Webster, Tom Hendrickx, Will Thorndike. Source: https://capital-riesgo.es/en/articles/dla-piper-asesora-al-search-fund-sotavento-capital-en-la-compra-de-cinergia-power-solutions/2021Undisclosed
  66. 66Farmacia de Daltacquired by Jan Nikolaisen (NCA entrepreneur) · Healthcare · SpainPharmacy / healthcare Backed by Novastone Capital Advisors (NCA). Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2021Undisclosed
  67. 67Gesinflot (TDI Técnicas de Ingeniería)acquired by Eon Partners · Transport software · SpainFleet-management SaaS for long-distance freight transport; >25,000 connected devices Backed by José Cabiedes, Daniel Escanciano, Fernando Herrero, Enrique Locutura. Source: https://www.merca2.es/2021/10/07/eon-partners-tdi-liderar-mercado-europeo-gestion-flotas-transporte-762318/2021Undisclosed
  68. 68Grabalfaacquired by D'Ella Capital · Printing services · SpainPre-press services for packaging / graphic supply chain Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2021Undisclosed
  69. 69Grupo Espiral MSacquired by Tilden Capital · Software · SpainSoftware company Backed by Relay Investments. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2021Undisclosed
  70. 70Grupo Espiral MS (Proactivanet / Prosafety)acquired by Tilden Capital · Software · SpainAsturias software group: ProactivaNet IT asset/service management and Prosafety EHSQ software Backed by Istria Capital, JB46, Relay Investments, ALZA Capital Partners. Proactivanet: 'In 2021, Tilden Investments, headed by its new CEO Alvaro de Rivera, made an important investment'. Registry (empresia.es/empresa/espiral-microsistemas/) shows Tilden Investments SL as sole shareholder. Source: https://www.proactivanet.com/en/about-us/2021Undisclosed
  71. 71IESMATacquired by Signatus Capital · Scientific Instrumentation · SpainAcquired by Signatus Capital (led by Enrique Sales), backed by ITACA Capital Partners and Arada Capital Partners2021Undisclosed
  72. 72IML (Instituto Médico Láser)acquired by Arista Partners · Healthcare · SpainMadrid aesthetic-medicine and laser clinic (founded 1996) Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2021Undisclosed
  73. 73Kapalua Tradingacquired by Navega Capital · Consumer products · SpainConsumer products company Source: https://www.elespanol.com/invertia/mis-finanzas/fondos-de-inversion/20240521/alaluz-capital-mueve-fondo-search-funds-captar-millones-euros-comprar-pymes/856664791_0.html2021Undisclosed
  74. 74NortConsulting (Norconsulting)acquired by Bogo Inversión · Technology · SpainTechnology consulting Backed by Juan Cuesta. Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2021Undisclosed
  75. 75Salvavidas Cardio (Anek S3)acquired by Vesta Capital Partners · Healthcare · SpainAED / cardio-protection-as-a-service and training; EUR5-6M revenue Backed by ALZA Capital Partners, Alza Capital Partners, Cabiedes Capital, Istria Capital, JB46, Juergen Rilling, Pacific Lake Partners, Relay Investments. Source: https://searchfundsnews.com/another-exit-in-spain-salvavidas-cardio-acquired-by-safe-life/2021Undisclosed
  76. 76CTAIMAacquired by Baluarte Capital · Compliance SaaS · SpainTarragona cloud software for contractor compliance / supply-chain risk management; ~EUR8M revenue at acquisition Backed by ALZA Capital Partners, Alza Capital Partners, Istria Capital, JB46, Kinderhook Partners, Promax Capital Investments, Relay Investments, Saltoun Capital Partners, WSC & Company. Source: https://searchfundsnews.com/investors-in-baluarte-capital-achieved-one-of-their-most-successful-returns-by-exiting-ctaima/2020Undisclosed
  77. 77ENEB (Namencis Education)acquired by Namencis Capital · Online education · SpainOnline business-school group (ENEB, ISEB, ESIE, IEAD); EUR4.5M revenue, EUR1.3M EBITDA in 2020 Backed by Cerralvo Capital, Enrique Locutura, José María Clotet. Source: https://searchfundsnews.com/namencis-education-marks-the-7th-spanish-exit-of-2025/2020Undisclosed
  78. 78Plásticos Ariasacquired by Vigía Capital · Plastics manufacturing · SpainGalician plastics manufacturer Backed by Juan Cuesta. Source: https://www.elespanol.com/invertia/mis-finanzas/fondos-de-inversion/20240521/alaluz-capital-mueve-fondo-search-funds-captar-millones-euros-comprar-pymes/856664791_0.html2020Undisclosed
  79. 79The Umai Groupacquired by Tagus Capital · Restaurants · SpainRestaurant chain Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2020Undisclosed
  80. 80Frenkitacquired by A&M Partners · Automotive components · SpainBrake and clutch repair kits manufacturer, Puente la Reina (Navarra); >90% exports Backed by ALZA Capital Partners. Source: http://www.posventa.com/es/notices/2019/03/el-search-fund-a-m-partners-se-hace-con-frenkit-57897.php2019Undisclosed
  81. 81Grupo Logiscenteracquired by Asta Capital · B2B e-commerce / AIDC · SpainMadrid B2B e-commerce distributor of AIDC/barcode/RFID equipment; EUR11.5M revenue, EUR1.8M EBITDA (2018) Backed by Antonio Beltrán, Atiud Capital Center, Cabiedes Inversiones, Fernando Herrero, Istria Capital, JB46, Luis Camilleri. Source: https://searchfundsnews.com/the-entry-of-levata-into-grupo-logiscenter-marks-one-of-the-most-successful-exits-in-spain/2019Undisclosed
  82. 82Vozitel and Cristalwareacquired by Syna Capital · Contact-center software · SpainVozitel: omnichannel CCaaS/AI contact-center software; Cristalware: customer-loyalty legal consultancy Backed by Alza Capital Partners, JB46, Kavnish Capital Partners, AIJ Global, Luis Camilleri, Fernando Herrero, Jesús Alonso, Félix Capell, Paz Ambrosy, Robert Monks. Source: https://searchfundsnews.com/another-successful-exit-in-spain-vozitel-joins-the-everfield-ecosystem/2019Undisclosed
  83. 83Lanaccessacquired by Sachem Partners · Security software · SpainVideo surveillance software solutions Source: https://searchfundsnews.com/spain-surpasses-75-sf-acquisitions-and-is-on-track-to-reach-100-by-the-end-of-2027/2018Undisclosed
  84. 84Lanaccess Telecomacquired by Sachem Partners · Security technology · SpainVideo-surveillance and AI video-security solutions for critical-infrastructure clients, 25+ years Backed by Istria Capital, MAYRIT Capital Partners, Bietou Capital, Blake Winchell, JB46, Scott Asen, Antonio Carranceja, Kinderhook Partners, Leon Bartolome, Vonzeo Capital. Registry shows Malinau Investments SL as sole shareholder of Lanaccess from 29 Jan 2019 with Di Cecco and Guillem as directors; sachempartners.com names them as Sachem's managing partners and lists the partner-investors. JB46/Relay give acquisition year 2018. Vonzeo link from existing mind map. Source: https://www.empresia.es/empresa/lanaccess-telecom/2018Undisclosed
  85. 85Mapexacquired by Transición · Industrial software · SpainBarcelona MES (manufacturing execution systems) software provider; EUR5.7M revenue 2018 Backed by ALZA Capital Partners, Alza Capital Partners, Bill Egan, Cabiedes Capital, Istria Capital, León Bartolomé, Relay Investments, WSC & Company. Source: https://searchfundsnews.com/mapex-enters-a-new-phase-of-growth-following-its-integration-into-the-proalpha-group/2018Undisclosed
  86. 86Cermeracquired by N Capital · Ceramic packaging · SpainWorld-leading manufacturer of ceramic food packaging (yogurt, desserts, ready meals); EUR9M revenue, EUR2M EBITDA at acquisition Source: https://searchfundsnews.com/cermer-which-was-the-third-company-acquired-by-a-sf-in-spain-now-has-a-new-owner/2016Undisclosed
  87. 87Lodisnaacquired by Elcano Partners · Transport & logistics · SpainInternational full-truckload road transport operator, Navarra; EUR20.4M sales in 2014 Backed by Acotral. Source: https://www.transportexxi.com/el-fondo-elcano-partners-compra-la-empresa-navarra-de-transporte-internacional-lodisna/2016Undisclosed
  88. 88Repliacquired by Ariol Capital · Plastic packaging · SpainManufacturer/distributor of plastic containers for pharma, food and cosmetics, La Roca del Vallès (Barcelona) Backed by Cabiedes Capital, Relay Investments, TTCER Partners. Source: https://rollupeurope.com/p/buscar-como-boss-ariol-the-deal-that-ignited-spain-s-search-fund-hype2014Undisclosed
  89. 89IMASPacquired by Cneo Partners · Occupational health & safety services · SpainSpanish provider of regulatory/mandatory occupational health-and-safety services (imasp.es) Backed by Istria Capital, Relay Investments, Innesto Partners. JOIN ROW: Istria lists Jose Maria Jover & Ignacio Jarava as CEOs of IMASP; Relay and Innesto list CNEO Partners (Spain, founded Feb 2024) with the same two searchers. Acquisition year not stated on fetched pages (fund launched Feb 2024, so 2025-2026). Source: https://istriacapital.com/entrepreneurs/—Undisclosed