Discover the main trends shaping the mergers and acquisitions market in Spain this year, from the rise of private equity to record international investment.
The Spanish M&A market at its peak
The mergers and acquisitions market in Spain closed 2025 with a 63% growth in deal value, establishing itself as one of the most attractive destinations for domestic and international investors. Projections for 2026 point to an additional 8% growth in transaction volume.
This dynamism is no coincidence. The combination of regulatory stability, quality infrastructure, and a mature ecosystem of specialized advisors has turned Spain into an investment hub in southern Europe.
The Mid-Market leads the recovery
Small and medium-sized enterprises remain the driving force of the Spanish M&A market. Unlike other countries where large deals dominate headlines, in Spain the mid-market (deals between €5 and €100 million) represents most of the activity.
This has important implications for Spanish business owners:
- Greater access to qualified buyers
- More agile sale processes
- Competitive valuations due to existing demand
- Diversity of options (full sale, partial, MBO)
Private Equity: the undisputed protagonist
Private equity funds are intensifying their presence in the Spanish market. Firms like Ardian, ProA Capital, Portobello, and Nazca Capital are actively expanding their portfolios with strategies focused on organic value creation.
A notable trend is the increasing use of continuation funds, allowing funds to retain profitable companies longer, maximizing returns through build-ups and carve-outs.
For sellers, this means:
- Buyers with solid financial capacity
- Interest in companies with growth potential
- Possibility of remaining in management post-sale
- Access to resources to scale the business
Record international investment
Spain has established itself as a priority destination for foreign investors. Funds from the United States, United Kingdom, Germany, and the Netherlands are steadily increasing their cross-border activity.
Sectors generating the most interest among international investors:
- Renewable energy - Spain as European leader in solar and wind
- Technology - Startups and established tech companies
- Logistics - Strategic position as gateway to Europe
- Agribusiness - Internationally recognized quality
- Real Estate - Commercial and residential assets
Family businesses: time for transition
Spanish family businesses are taking advantage of this favorable context to address generational transitions. Partial or full sales to private equity funds allow combining business continuity with professionalization.
85% of companies in Spain are family-owned, and many face succession decisions. The current market offers optimal conditions for those considering this option.
ESG: full integration in due diligence
ESG (Environmental, Social, Governance) criteria are no longer optional. They have been fully integrated into due diligence processes, not due to regulatory pressure, but real demand from institutional investors.
Companies with good ESG practices obtain:
- Higher valuations
- Greater interest from institutional buyers
- Smoother sale processes
- Better competitive positioning
What does this mean for your company?
If you are a business owner and have considered selling your company, exploring financing options, or simply knowing its market value, 2026 presents a favorable scenario. The combination of available liquidity, investor interest, and competitive valuations creates a window of opportunity.
At Fundenza, we help business owners navigate this process, from initial valuation to deal closing. Knowing the real value of your company is the first step to making informed decisions.