Spain

• Dealmakers eagerly await Suez's sale of Spanish water business Agbar, slated for mid-2020
• Inconclusive Spanish election and minority government in Portugal do not deter investors 
• Iberian YTD deal value lowest in five years

The course of true love never did run smooth, and neither has the on-again, off-again interest of private equity in the renewable energy space.

• Deal volume, value in YTD much lower than 2017, 2018
• Opinion divided on extent that post-recession boom will continue

Mergermarket, the leading provider of M&A data and intelligence, has released research showing that in 1Q19, Spanish private equity continued to be active, with buyouts in the region reaching EUR3bn (18 deals), while exits reached EUR 2bn (7 deals), up from EUR 1.3bn and EUR 1.5bn for buyouts and exits, respectively in 4Q18.

Private equity take-privates double over 12-month period

• Improving GDP prompts deal confidence
• 2018 M&A transactions highest on record
• Deals expected in TMT, energy and health sectors

Expert speakers joined us in Madrid to highlight the latest trends in Spanish M&A and Private Equity. Catch up on what insights were shared. 

• Spain has recorded 113 deals worth €46.7bn in 2018 so far
• The €32.1bn takeover of Abertis by ACS and Atlantia has pushed 2018’s figure above 2017’s full-year total of €42.2bn
• Cheap financing and strong economic performance has spurred optimism amongst dealmakers

Geopolitical events continue to provide a challenging backdrop to M&A in Europe. In an effort to help give dealmakers clarity in navigating this new political era, attendees to Acuris events in 2017 events have benefitted from these first-hand views by government ministers and political commentators.

• 2017 Spanish M&A activity catches up on 2016 full year value as a result of the Atlantia and Abertis mega deal.
• Inbound M&A activity into the region has increased to account for 51.9% of Spain’s total 2017 deal count (135 deals).
• Spanish Private Equity activity surges by 161.7% in 2017 compared to the same period 2016.

Europe’s core countries expand and recover in debt terms, while emerging markets across the board start to realize the potential of leveraged debt