M&A Activity in Spain and perspectives for 2025

By Marcel Prunera and Jose Villaverde

Spain’s M&A market is on its way to recovery. With deal volumes increasing, 2025 looks promising as the market is stabilizing, investor confidence is growing, and larger transactions are returning, especially due to the interest from international private equity.

While most of the activity is still coming from the small and mid-market, which remains the pilar of the Spanish economy and its M&A activity, Spain is also involved in global M&A deals. Foreign investors remain active in several sectors like real estate, renewables, tech, agribusiness, logistics, and defense, continuing the trends seen in 2024.

Several factors are driving the current trends such as the need of succession planning in family-owned companies, Spain’s role as a hub for IT and tech services, and the increasing need to rotate portfolios in VC and PE funds.

To conclude, Spain’s M&A market keeps growing, and investors are ready to engage, also due to the availability of dry powder, meaning 2025 could be the start of a promising period for corporate activity.

Marcel Prunera and Jose Villaverde, both partners from Barcelona and Madrid office bring a strong mix of strategic vision and corporate finance expertise, with deep experience in M&A execution across several sectors.