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Mergers and Acquisitions – M&A

Comprehensive advisory services for corporate transactions involving the sale and acquisition of companies

Our Mergers and Acquisitions team offers services focused on corporate transactions involving the sale and acquisition of companies. We have a team of professionals with extensive experience in executing and negotiating corporate transactions, and we are here to advise and support you throughout the entire process, offering you complete transparency and security.

Sale of companies
Acquisition of companies

We provide professional and confidential support throughout the entire advisory process

Transaction Analysis and Advisory Services

Transparency and security throughout the entire process

Partnership with Pandea Global M&A

Sale of companies

We offer advisory services for the sale of businesses, helping business owners carry out an orderly and confidential process, analyzing the various options, and maximizing their objectives.

Sale to a company in the sector.
Sale to the management team: Management buyout (MBO).
Sale to a financial investor: Leveraged buyout (LBO).
Mergers and/or Joint-Venture.

How can we help you?

  • We conduct a preliminary assessment before beginning the sales process to identify shortcomings and propose corrective measures.
  • We plan and structure the execution of the process in an optimal way.
  • We identify potential buyers using a research-based methodology.
  • We analyze and evaluate the company to highlight value arguments.
  • We prepare high-quality documents (blind profile, sales brochure, process sheet, and key documentation).
  • We are actively involved in the due diligence process, coordinating efforts among all parties involved.
  • We negotiate the best terms and conditions for closing the deal.
  • We coordinate the drafting of the purchase agreement and other agreements related to the transaction.
Contact an expert

Acquisition of companies

We offer advice on company acquisitions to facilitate geographic expansion, the addition of new lines of business, or the strengthening of a company’s competitive position.

How can we help you?

We help you evaluate the best option and negotiate the best possible deal, whether it involves a minority stake, a majority stake, or 100% ownership. We execute your acquisition plan using a proven methodology tailored to each strategic objective:

  • Definition of search criteria and selection of target companies.
  • Contact with companies selected using our research methodology.
  • Development of valuation strategies that take potential synergies into account.
  • Advice on financing the acquisition.
  • Negotiation of terms and conditions until the process is completed.
  • We negotiate the best terms and conditions for the transaction.
Contact an expert
Minority or majority stakes in companies
Acquisition of 100% of the equity
Expansion through strategic acquisitions

Benefits of an M&A Service

Growth, geographic expansion, access to new technologies, optimizing competitive positioning, or improving operational efficiency.

We specialize in mergers and acquisitions

At PKF Attest a multidisciplinary team with extensive experience in corporate transactions and a proven track record in analyzing, structuring, negotiating, and executing transactions. We work closely with our clients, applying a rigorous approach, adapting to the specific details of each transaction, and focusing on achieving their objectives.

PKF Attest Pandea Global M&A

PKF Attest Finance is part of the Pandea Global M&A alliance, a group of independent firms from around the world that specialize in M&A transactions in the middle market segment, with transaction values ranging from 5 to 500 million euros.

This partnership with Pandea gives us access to a network of firms specializing in M&A with extensive experience in their respective local markets, as well as to qualified buyers and sellers on an international level. As a result, we strengthen our ability to execute transactions on a global scale and to identify the most suitable counterparty in each case.

Judith Sendino

Judith Sendino

Partner

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José María Alberú

José María Alberú

Partner

Linkedin
Jaime Rodríguez

Jaime Rodríguez

Partner

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Our Transactions

Business Case 2026

Sample text for Business Case 1 for the year 2022. This content is edited in the text field associated with each card.

Business Case 2026

SALES CONSULTING IN THE FIELD OF VERY HIGH-PRESSURE MACHINERY FOR THE FOOD INDUSTRY

International investors have acquired Metronics Technologies

The shareholders of Metronics Technologies have sold 100% of the company’s equity to an undisclosed international buyer. In addition, the selling shareholders involved in management have reinvested a portion of the proceeds from the transaction in the acquiring company, with the aim of supporting an ambitious future growth plan.

Metronics Technologies, founded in 2001, specializes in the design, manufacture, and sale of ultra-high-pressure waterjet cutting machinery for the food industry. The company has a strong international presence, exporting approximately 88% of its production.

The transaction will enable the buyer to gain access to robust and proven technology, complement its product portfolio, and strengthen its position in certain markets, as well as expand its customer base and international presence.

PKF Attest has advised the shareholders of Metronics Technologies in the sale of the company

Business Case 2025

ADVISORY SERVICES FOR THE SALE TO A FOREIGN PUBLICLY TRADED GROUP

The Austrian group Andritz acquires the Salico

The international group Andritz has signed a binding agreement to acquire the Salico Group, which specializes in the design and manufacture of finishing equipment for the processing of ferrous and non-ferrous metals.

Founded in 1978. With more than 45 years of experience in providing finishing systems for the processing of ferrous and non-ferrous metals, and with headquarters in Italy and Spain, Salico also operates in the United Kingdom, the U.S., and India. The company has more than 150 employees, a plant in Molteno (Lecco), and generates approximately 100 million euros annually.

The transaction reinforces Andritz's strategy of positioning itself as a full-service provider in the metals sector, expanding its technology portfolio and strengthening its global presence in finishing solutions and services.

PKF ATTEST advised the sellers throughout all phases of the process, which included identifying and contacting investors, negotiating the terms and conditions of the transaction, and providing legal advice to the sellers.

Business Case 2025

ADVISORY SERVICES FOR THE SALE TO TWO PRIVATE EQUITY FUNDS

PKF Attest Ñam Restaurants on their sale to Pangram and Growth.

The private equity firms Pangram Capital Partners and Growth Partners Capital have acquired 55% of the Ñam Restaurantes restaurant group, with the remaining 45% retained by the current shareholders.

With a history spanning more than 30 years, Ñam Restaurantes operates 15 restaurants in the Basque Country and Navarre under two complementary concepts: Ñam (11 locations) and Bilbbo (4 locations). Both concepts share the same philosophy: to offer an authentic, fast, and affordable dining experience without compromising on the quality of the food or the warm, friendly service.

The entry of Pangram Capital Partners and Growth Partners Capital marks a turning point in Ñam Restaurantes’ history, providing not only capital but also comprehensive strategic support aimed at professionalizing the company’s structure, strengthening its internal capabilities, and scaling its business model with the ambition of establishing itself as a national leader in the restaurant industry, without compromising the authenticity that has defined its history.

PKF Attest advised the sellers throughout all phases of the process, which included identifying and contacting investors, negotiating the terms and conditions of the transaction, securing financing and its terms, as well as providing legal advice.

Business Case 2025

ADVISORY SERVICES FOR THE SALE OF A COMPANY IN THE PHARMACOVIGILANCE MARKET

PKF Attest PHV Latam on the sale to Ergomed

The British investment fund PERMIRA, through its subsidiary ERGOMED, has agreed to acquire 100% of PHV Latam, with the aim of expanding its services geographically.

PHV Latam is a group with offices in Spain, Argentina, and Colombia that specializes in providing pharmacovigilance services and offers support in Latin America, Africa, Asia, and Oceania.

PERMIRA is a British investment fund founded in 1985 as Schroder Ventures. It has 17 offices around the world and a staff of more than 500 people, and invests primarily in four sectors: technology, consumer goods, healthcare, and services.

ERGOMED is one of PERMIRA's portfolio companies in the healthcare sector, specializing in providing services to the biotechnology and pharmaceutical industries, with a focus on pharmacovigilance services, among others.

PKF Attest Finance has advised PHV Latam in the analysis, valuation, structuring of the transaction, and negotiation of the financial terms and conditions.

Business Case 2025

ADVISORY SERVICES FOR THE SALE OF A TELECOMMUNICATIONS COMPANY

PKF Attest Grupo AV Sistemas on the sale of the group

The shareholders of Grupo AV Sistemas have sold 100% of the company’s equity to a financial investor. With more than 25 years of experience, Grupo AV Sistemas has established itself as a leader in the installation, distribution, and maintenance of telecommunications systems in the province of Biscay.

The addition of the new investor marks a new phase in the group's history. The investor's involvement will help drive a growth plan aimed at consolidating the group's market position.

PKF Attest 's financial and legal team PKF Attest advice throughout the entire sale process, which included the valuation and structuring of the transaction, as well as the negotiation of its terms and conditions.

Business Case 2025

SALES CONSULTING IN THE CONSTRUCTION AND CIVIL ENGINEERING EQUIPMENT AND TOOL RENTAL SECTOR

PKF Attest the shareholders of Serviobras Extremadura on the sale of the company

The shareholders of Serviobras Extremadura have sold 100% of the company’s equity to a leading company in the equipment rental industry. Founded in 1991 in Mérida, the company has more than 30 years of experience in the rental and sale of equipment, metal components, and cleaning equipment.

The transaction will enable the buyer to expand its customer base and strengthen its presence in the Extremadura market, a region where it previously had no physical facilities.

PKF Attest 's financial and legal team PKF Attest advice throughout the entire sale process, which included structuring the transaction and negotiating its terms and conditions.

Business Case 2024

ADVISORY SERVICES FOR THE SALE TO A FOREIGN PUBLICLY TRADED GROUP

PKF Attest Net Real Solutions on its sale to Link Mobility.

The Norwegian group Link Mobility, listed on the Oslo Stock Exchange and a leader in mobile communication solutions designed to optimize the customer journey, has acquired 100% of the Spanish company Net Real Solutions from its founder. The transaction includes the subsidiaries in Colombia (Atenea Mobile Solutions and Kronos Mobile Solutions) and Mexico (Pandora Mobile Solutions).

Net Real Solutions, founded in 2001, is a leader in SMS marketing and omnichannel services, having sent more than 2,000 million SMS messages globally last year.

With this acquisition, Link Mobility strengthens its presence in Europe and expands its strategic reach in Latin America, capitalizing on Net Real Solutions' strong position in Colombia and Mexico, as well as its leadership in omnichannel marketing solutions.

PKF Attest advised the sellers throughout all phases of the process, which included identifying and contacting investors, negotiating the terms and conditions of the transaction, and providing legal advice.

Business Case 2024

 

ADVISORY SERVICES FOR A CROSS-BORDER TRANSACTION IN THE FINTECH SECTOR

CAD IT Acquires a 30% Stake in Software Financiero Bolsa

The shareholders of Software Financiero Bolsa (SFB) have sold 30% of their equity to the Italian company CAD IT at a price to be determined by the company’s financial results for 2016–2018. Additionally, in 2018, CAD IT will have the option to acquire an additional 21%, and the current shareholders will have the option to sell up to the remaining 49%.

Software Financiero Bolsa, headquartered in Madrid, is a company dedicated to software development and providing consulting services for the front, middle, and back offices of financial institutions in the Spanish securities market. It has proprietary platforms that process more than 50% of the settlement instructions received by Iberclear on a daily basis.

CAD IT, headquartered in Verona, is listed on the Milan Stock Exchange and specializes in software development, implementation, and maintenance, with a particular focus on financial institutions and tax collection agencies. CAD IT counts 90% of Italy’s banks among its clients and has more than 600 employees.

The PKF ATTEST team PKF ATTEST the seller on structuring the transaction and negotiating its terms and conditions, covering both financial and legal aspects.

Business Case 2024

ADVISORY SERVICES FOR THE SALE OF A COMPANY IN THE METALLURGICAL SECTOR

PKF ATTEST the shareholders of Hierros Arrate in the sale of 100% of the company

Armangué, a Catalan group specializing in the manufacture and sale of steel and rebar for construction, has acquired 100% of the company Hierros Arrate for an undisclosed amount.

Hierros Arrate, based in the Basque Country, specializes in the production of rebar for the construction and civil works market.

The transaction will allow Armangué to expand its presence in the north of the peninsula, gaining a stronger foothold in Navarre and the Basque Country, one of its main markets along with Catalonia and southern France.

The PKF Attest team PKF Attest as financial and legal advisor to the sellers.

Business Case 2024

ADVISORY SERVICES FOR THE SALE OF A COMPANY IN THE FREIGHT FORWARDING INDUSTRY

PKF ATTEST Lema's shareholders Transit in the sale to the Altius Group

Grupo Altius, a leading company in the Spanish market of logistics, specialized international transport and customs, with more than 300 professionals in 10 offices in Spain and 5 offices in America, has acquired 100% of the capital of Lema Transit.

Lema Transit, based in Bilbao, Basque Country, is a forwarding company specialized in sea, air and land transportation.

The transaction will allow the Altius Group to expand and diversify its customer base and strengthen its presence in Bilbao, where it already has a team of more than 30 people.

The PKF Attest team PKF Attest as financial advisor to the sellers.

Business Case 2024

ADVISORY SERVICES FOR THE SALE OF A BUSINESS UNIT IN THE RENEWABLE ENERGY SECTOR

PKF ATTEST Ingeteam on the sale of its renewable energy plant O&M business

Renewable Energy Systems (RES), the world's largest independent renewable energy company, has completed the acquisition of Ingeteam's renewable energy O&M (Operation & Maintenance) division for an undisclosed amount.

The agreement expands RES's capabilities and operations to 24 markets, creating the world's largest independent provider of renewable energy services with multi-technology capabilities. RES will have €40,000 million in assets under management, through more than 40 GW of global contracts.

Ingeteam will continue to drive its efforts in the development of energy conversion technology, supporting its customers and powering a sustainable future.

The PKF Attest team PKF Attest as financial advisor to the sellers.

Business Case 2023

ADVISORY SERVICES FOR THE ACQUISITION OF A COMPANY IN THE COLD-ROLLED STEEL SECTOR

Arania, part of Grupo Arania, acquires 100% of the shares in Thyssenkrupp Materials Processing Lamincer

The Arania Group, one of Europe’s leading companies in the field of steel processing, with a workforce of more than 1,000 employees and annual revenue of approximately 500 million euros across its four steel divisions, has acquired 100% of the shares of Thyssenkrupp Materials Processing Lamincer S.A.U. through Arania, the Group’s cold-rolled strip business. Lamincer, headquartered in Mungia (Spain), is a subsidiary of Thyssenkrupp Materials Services, one of the world’s leading providers of services and distribution of materials for the metallurgical industry, with nearly 380 locations—including some 270 warehouses—in more than 30 countries and revenue of 13,600 million euros.

With this acquisition, Arania further strengthens its leadership position in Southern Europe as a precision cold-rolling mill and supports its ongoing growth strategy.

PKF Attest 's financial and legal team PKF Attest the buyers throughout the acquisition process, which included the valuation and structuring of the transaction, as well as the negotiation of its terms and conditions.

Business Case 2023

ADVISORY SERVICES FOR THE SALE OF A LEADING COMPANY IN THE HEALTH AND SOCIO-HEALTHCARE INSURANCE SECTOR IN THE BASQUE COUNTRY

PKF ATTEST the shareholders of GRUPO IMQ on the sale of a controlling stake to SEGURCAIXA ADESLAS

SEGURCAIXA ADESLAS (SCA), a leading health insurance company in Spain and part of the Mutua Madrileña Group, has recently acquired a controlling stake (close to 75%) in GRUPO IMQ, whose reference company is the Igualatorio Médico Quirúrgico.

Igualatorio Médico Quirúrgico, founded in 1934 in Bilbao, is the oldest medical insurance company in Spain and is the undisputed leader in health insurance in the Basque Country. In addition to the insurance company, the group is made up of a series of companies in the health and social-health fields, including the Zorrozaurre Clinic in Bilbao, the Igurco subgroup, dedicated to the care of the elderly in residences and day centers, and the subgroup dedicated to the prevention of occupational hazards, forming a business group that serves more than 384,000 people, directly employing more than 2,750 people, with a medical staff of more than 1,700 professionals and an aggregate annual turnover of more than 330 million euros.

The transaction, which values the Group at nearly 300 million euros, was particularly complex due to the group's shareholder composition (more than 1,100 shareholders with different sensitivities and personal situations, grouped on various platforms), as well as the fact that it required the authorization of the supervisor (Directorate General of Insurance), as insurance is a regulated and supervised activity, and the authorization of the competition authorities due to the size of the buyer and of the IMQ Group.

The transaction guarantees the survival of the IMQ group and solves the internal problems arising from the very high concentration of shareholders who are retired or close to retirement, and is the culmination of a collaboration with Adeslas that began more than 15 years ago.

The PKF Attest team PKF Attest served as financial advisor to the Board of Directors of the IMQ Group’s parent company throughout the nearly three years that the negotiations have lasted.

Business Case 2023

ADVISORY SERVICES FOR THE SALE OF A COMPANY IN THE HVAC INDUSTRY

Vaillant acquires 100% of the shares in Vaigas

Vaillant, a German company and leader in the HVAC sector, with a workforce of more than 17,000 employees and annual revenue of approximately 3.7 billion €, has acquired 100% of the shares in Vaigas, the company responsible for providing technical service and maintenance for Vaillant equipment in the Guipúzcoa region.

The acquisition is part of Vaillant's technical service and maintenance integration strategy in Spain. The transaction will enable Vaillant to strengthen its presence in Guipúzcoa, where Vaigas has a strong market penetration.

PKF's Financial and Legal Team Attest has advised the sellers throughout the entire sale process, which included the valuation and structuring of the transaction, as well as the negotiation of its terms and conditions.

Business Case 2023

ADVISORY SERVICES FOR THE SALE OF A CONSULTING FIRM IN THE LIFE SCIENCES AND HEALTHCARE SECTOR

PKF ATTEST the majority shareholder of Azierta in the sale of 80% of the company

QbD Group, a Belgian consulting firm specializing in life sciences and healthcare services, has acquired a majority stake in the Spanish company Azierta for an undisclosed amount.

Azierta, headquartered in Madrid, is a life sciences and healthcare consulting firm that focuses on providing services in the areas of pharmacovigilance, regulatory affairs, and compliance with best practices, among others.

The acquisition is part of QbD Group's growth strategy in Europe within the life sciences and healthcare sector. The transaction will enable QbD Group to strengthen its presence in Spain, where Azierta has strong market penetration and brand recognition.

The PKF Attest team PKF Attest as financial advisor to the sellers.

Business Case 2023

ADVISORY SERVICES FOR THE ACQUISITION OF A FAMILY-OWNED COMPANY IN THE PERFUME AND COSMETICS INDUSTRY 

PKF Attest Nutritienda on the acquisition of Grup Perfumeries San Remo.

Nutritienda Healthcare & Beauty S.L., a Madrid-based company specializing in online health and beauty retail both nationally and internationally, has acquired Grup Perfumeries San Remo S.L. for an undisclosed amount.

Grup Perfumeries San Remo S.L., based in Barcelona, is a company dedicated to the retail sector with 31 physical perfumery and beauty stores.

With this transaction, Nutritienda is bringing on board a key player to drive an ambitious strategic plan whose primary goal is to expand its business lines and product catalog. 

The PKF Attest team PKF Attest advised Nutritienda throughout the acquisition process, which included analysis, company valuation, and negotiation of the financial terms of the contract. Additionally, PKF ATTEST the due diligence process.

Business Case 2022

ADVISORY SERVICES FOR THE SALE OF AN INSURANCE COMPANY IN THE HEALTHCARE SECTOR

PKF ATTEST IPRESA's shareholders on the sale of the company

FIATC Seguros, a Spanish mutual insurance company, has acquired a majority stake in IPRESA, also a Spanish company, for an undisclosed amount.

IPRESA (Igualatorio de Previsión Sanitaria S.A.), headquartered in Donostia-San Sebastián, is a health insurance company that also owns the Arrasate Medical Center.

The acquisition is part of FIATC Seguros' growth strategy in the health insurance sector. The transaction will enable FIATC to strengthen its presence in the province of Guipúzcoa, where IPRESA has strong market penetration and brand recognition.

The PKF Attest team PKF Attest as financial and legal advisor to the sellers.

Business Case 2022

SALES CONSULTING

The British Group Outright Games acquires Cyberlake Group.

Outright Games, a British company controlled by the private equity firm EMK Capital and specializing in the development of licensed video games for the whole family, has acquired the Spanish company Cyberlake Group for an undisclosed amount.

Cyberlake Group, headquartered in Rivas-Vaciamadrid, is a company dedicated to the creation, development, and publishing of video games.

With this transaction, Outright Games is bringing on board a key player as part of its international growth strategy.

The PKF Attest team PKF Attest as financial and legal advisor to the sellers.

Business Case 2022

ADVISORY SERVICES FOR THE SALE OF A COMPANY SPECIALIZING IN THE E-COMMERCE SECTOR

PKF ATTEST the shareholders of Auxitec on the sale of 56% of the company

The venture capital firm Talde and KCE (Kaizaharra Corporacion Empresarial) have acquired a 56% stake in the Auxitec Group, which specializes in distribution and supply for online retail, as a strategic partner of the marketplace leader—both domestically and internationally—for products in sectors as diverse as industrial goods, sports, baby products, beauty, automotive, home goods, and health and personal hygiene. 

In this new phase, together with Talde and KCE, the Group aims to implement an ambitious strategic plan whose main objective is to expand internationally, focusing on other European countries and new markets such as the U.S., the UAE, and Latin America, in addition to expanding its business lines and product portfolio.

The financial terms of the transaction have not been disclosed.

The PKF ATTEST team PKF ATTEST as financial advisor to the sellers in the transaction.

Business Case 2022

ADVISING ON THE SALE OF A COMPANY IN THE MECHANICAL ENGINEERING SECTOR

PKF ATTEST PKF ATTEST the shareholders of Fervilor Michels and Balsa Pack Hispania on the sale of the companies

Innometal, a Spanish company specialized in the metal industry, has acquired the also Spanish companies Fervilor and Balsa Pack Hispania for an undisclosed amount.

Both companies are based in Vitoria-Gasteiz and specialize in cutting, bending, welding and machining processes for the manufacture of metal components for various sectors.

The PKF ATTEST team PKF ATTEST financial and legal advisor to the sellers in the transaction.

Business Case 2021

ADVISORY SERVICES FOR THE ACQUISITION OF A COMPANY IN THE MEDIUM- AND LOW-VOLTAGE TRANSFORMER MARKET

PKF ATTEST Arteche on the acquisition of Esitas

Arteche, a Spanish company specializing in the design, manufacture, integration, and marketing of high- and medium-voltage transformers, has agreed to acquire 100% of the Turkish company Esitas, a market leader with offices in Turkey and Indonesia.

Esitas is a company that manufactures medium- and low-voltage transformers. With the acquisition of Esitas, Arteche is taking its first step toward establishing a presence in Asia and expanding its business portfolio—both in terms of products and customers—thereby positioning itself among the top five European leaders in the medium-voltage market.

PKF ATTEST Corporate Finance advised Arteche on the analysis and valuation of the transaction, the structuring of the deal, and the negotiation of the financial terms and conditions of the transaction.

Business Case 2021

ADVISORY SERVICES FOR THE ACQUISITION OF A COMPANY IN THE CONSTRUCTION AND REAL ESTATE SECTOR

PKF ATTEST Urbas on the acquisition of Jaureguizar

Urbas Grupo Financiero has acquired 100% of the shares in Jaureguizar Promoción y Gestión Inmobiliaria. Jaureguizar is a company based in Biscay that specializes in the development, construction, and management of housing cooperatives. It is one of the leading players in the real estate sector in the Basque Country, with a track record of more than 35 years in residential development and more than 7,500 homes delivered. 

Urbas Grupo Financiero is the holding company for a group of companies engaged in the purchase of land, as well as real estate development, sales, and management.

The PKF ATTEST team PKF ATTEST advised Urbas in its financial analysis of the acquisition process.

Business Case 2019

ADVISORY SERVICES FOR THE ACQUISITION OF A COMPANY IN THE HEALTHCARE AND SOCIAL SERVICES SECTOR

PKF ATTEST Igurco on the acquisition of Hospital de Cuidados San Onofre

Igurco Gestión, S.L. has acquired 100% of the shares in Hospital de Cuidados San Onofre, S.L., which will include its wholly-owned subsidiary, Clínica Álava, S.L., and the business operations of those companies.

San Onofre Care Hospital is a healthcare and social-healthcare company operating in an inpatient setting, whose activities focus on providing palliative care services, on the one hand, and geriatric care and long-term residential care, on the other.

Igurco is a leading provider of social and health care services, primarily for older adults. It manages more than 1,100 spots across 9 day centers (358 spots for dependent older adults), 6 social and health care centers (786 beds), and a complex of assisted-living apartments (28 apartments).

The PKF ATTEST team PKF ATTEST advised Igurco through the acquisition process, which included the analysis and valuation of the company, as well as the negotiation of the main terms and conditions of the contract. Additionally, PKF ATTEST the Due Due process.

Business Case 2019

ADVISORY SERVICES FOR THE SALE OF A COMPANY SPECIALIZING IN VALVES

PKF ATTEST the shareholders of Talleres Macasa, S.A. on the sale of the company

The shareholders of Talleres Macasa have sold 100% of the company’s equity to a group of private investors. Talleres Macasa is a company based in Biscay that has been manufacturing and distributing valves and fittings for the naval and industrial sectors for more than 45 years. The company has a broad product portfolio that includes seat and check valves, flushing and fire protection valves, pressure gauge needles, automatic shut-off valves, male and purge probes, automatic tube and flat-glass level gauges, compressed air valves, fire hydrants, etc.

The PKF ATTEST team PKF ATTEST the majority shareholder throughout the entire sale process, which included identifying investors, structuring the transaction, and negotiating its terms and conditions.

Business Case 2019

ADVISORY SERVICES FOR THE SALE OF A COMPANY IN THE INFORMATION AND COMMUNICATION TECHNOLOGIES SECTOR

PKF ATTEST the shareholders of Odei in the sale of the company

Teknei Group has acquired 100% of the shares in Odei, a company that provides services and solutions in the Information and Communication Technologies (ICT) sector. Its integration into Teknei is part of a national and international development and expansion strategy aimed at strengthening and complementing the company’s portfolio of technology solutions.

Teknei is a leading provider of IT solutions and complementary IT systems, with a special focus on ECM (Enterprise Content Management), RPA (Robotic Process Automation), cybersecurity, outsourcing, and blockchain solutions and services.

The PKF ATTEST team PKF ATTEST the seller throughout the entire sale process, which included identifying investors, structuring the transaction, and negotiating its terms and conditions.

Business Case 2018

ADVISORY SERVICES FOR THE ACQUISITION OF A MULTINATIONAL COMPANY

PKF ATTEST Kaizaharra on the acquisition of Intimus from PHI Industrial.

Kaizaharra Corporación Empresarial has acquired the multinational Intimus International Group from the investment fund PHI Industrial. Intimus International Group is a Barcelona-based group specializing in providing innovative security and automation solutions for data, documents, and cash. The Group employs more than 250 people and has annual revenue exceeding 40 million euros. It has a strong international presence with physical sales offices in 11 countries and directly serves customers in more than 60 countries.

Kaizaharra is a business corporation headquartered in Bilbao, with Iñaki López Gandásegui as its principal promoter. It is dedicated to promoting and fostering businesses through equity investments.

As for PHI Industrial, it is an international fund specializing in the acquisition and development of industrial and service companies in special situations.

The PKF ATTEST team PKF ATTEST advised Kaizaharra throughout the acquisition process, which included analysis, company valuation, and negotiation of the contract terms. Additionally, PKF ATTEST the due diligence process.

Business Case 2018

CROSS-BORDER OPERATION IN THE INDUSTRIAL SECTOR

PKF ATTEST Korta Group on the sale of its subsidiary in India

Korta Group has sold 100% of its Indian subsidiary, Korta India Engineering Pvt. Ltd., to NRB Industrial Bearings Limited in a transaction that includes a sales agency agreement and a technical assistance agreement, and will enable Korta Group to expand its operations in that market.

Korta India, located in Bangalore, was founded in September 2007 with the goal of meeting the growing demand for precision engineering components in India and overseas markets, specializing in the manufacture of ball screws for industrial sectors.

NRB Industrial Bearings Limited is an Indian company listed on the Bombay Stock Exchange and controlled by the Sahney family. As a manufacturer of ball and roller bearings for the industrial sector, it operates several production facilities in India and counts OEMs and end users among its customers. It has an extensive network of sales offices and a large distribution network, as well as strong engineering support.

Korta Group, founded more than 50 years ago, specializes in the manufacture of high-precision ball screws for the machine tool, energy, and automotive industries, and, more recently, has been increasingly active in the research and development of new products for aerospace applications

The PKF ATTEST team PKF ATTEST the seller throughout the entire process, from initial contact with the buyer to negotiating the terms and conditions of the transaction and the final closing.

Business Case 2018

CROSS-BORDER OPERATION IN THE MACHINE TOOL SECTOR

PKF ATTEST Talleres MYL on the acquisition of SMZ Italia.

Talleres MYL has acquired SMZ Italia, a company specializing in machine tools, which will enable Talleres MYL to double its production capacity, strengthen its strategic position to become Europe’s leading repairer of electric spindles, and bolster its commitment to manufacturing new products.

MYL Workshops is a company based in Gipuzkoa that specializes in the design, manufacture, and repair of machine tool spindles and has nearly 50 years of experience in its industry.

SMZ Italia, a family-owned company with more than 20 years of experience in the Italian market, is Italy's leading company specializing in the repair and sale of electric spindles and one of the most prominent in Europe.

The PKF ATTEST team PKF ATTEST Talleres MYL throughout the acquisition process, which included analyzing and valuing the company, negotiating the terms of the contract, and negotiating with the financing institutions.

Business Case 2018

ADVISORY SERVICES FOR THE SALE OF A COMPANY IN THE MEDIA SECTOR

PKF ATTEST a subsidiary of the Group Vocento Group subsidiary in the sale of Inversión & finanzas.com

The shareholders of Inversor Ediciones, S.L., owner of the magazine *Inversión* and the website *Finanzas.com*, have sold 100% of the company's equity to Economía Digital.

Inversión & Finanzas.com is a renowned weekly business magazine featuring news and commentary on the stock market, current economic events, and wealth management, with a history spanning more than 25 years. The magazine has an audience of 30,000 readers and a circulation of more than 10,000 copies per issue.

Economía Digital, which has been in the market for 10 years, is the fifth most-visited Internet-native news group in Spain, according to data from comScore.

The PKF ATTEST team PKF ATTEST the majority shareholder throughout the entire sale process, which included identifying investors, structuring the transaction, and negotiating its terms and conditions.

Business Case 2016

CROSS-BORDER OPERATION IN THE AUTOMOTIVE SECTOR

PKF ATTEST Tubos Reunidos on the sale of Inauxa to Mubea

The shareholders of the INAUXA Group have sold 100% of the company’s equity to the German group Mubea for €33 million. INAUXA is a Tier 1 supplier of components for the automotive sector, with manufacturing facilities in Spain, China, and Mexico. The group specializes in the design, development, and manufacture of parts for passenger vehicle suspension systems and is one of the Volkswagen Group’s leading suppliers of stabilizer links.

Mubea, headquartered in Attendorn, Germany, is a group dedicated to the development and manufacture of high-performance springs and stabilizer bars, among other components, for the automotive industry. In 2015, the group reported revenue of €1.8 billion and operates 28 locations worldwide.

Tubos Reunidos, a Spanish company listed on the continuous market, was INAUXA’s largest shareholder, holding 50% of its capital. Ezten, the Basque Government’s venture capital fund, owned 20% of INAUXA, and the remaining 30% was held by individual shareholders.

The PKF ATTEST team PKF ATTEST the seller throughout the entire sale process, which included identifying investors, structuring the transaction, and negotiating its terms.

Business Case 2016

ADVISORY SERVICES FOR THE SALE TO A FOREIGN PUBLICLY TRADED GROUP

The Norwegian group Link Mobility acquires Didimo and Jet Telecom

Link Mobility, the Norwegian group listed on the Oslo Stock Exchange, has acquired 100% of Didimo's equity from its founder and partners. The transaction includes the business of Jet Telecom, a subsidiary of Didimo.

Didimo, a leading provider of B2C mobile messaging services in Spain based in Madrid, reported revenue of 9 million euros in 2016 and EBITDA of approximately 1.3 million. In July 2015, Didimo completed the acquisition of Jet Telecom, creating a group with a monthly average of more than 40 million messages sent.

Carlos Cadenas, the company's founder and manager, will continue to lead the business's operations in Spain.

PKF ATTEST advised the sellers throughout all phases of the process, which included identifying and contacting investors, negotiating the terms and conditions of the transaction, and providing legal advice to the sellers.

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M&A Frequently Asked Questions

How long does it take to sell a business?

A full sale process typically takes about a year from the time the company is put on the market, depending on factors such as the company's size, its industry, and industry conditions.

Why Hire a Corporate Financial Advisor?

A corporate financial advisor provides a comprehensive strategic perspective, helping you analyze your current situation and plan the exit process. The advisor will work with you to define your strategy, select the right advisory team, estimate the value of the business, and identify risks that could affect the price. In addition, early and well-structured planning helps maximize value and facilitates decision-making throughout the process.

What are the common mistakes to avoid when selling a business?

One of the most common mistakes is not spending enough time properly preparing for the sale. For a smooth transition—especially in situations such as retirement—it is advisable to plan the sale at least 2–3 years in advance. In practice, the sooner you start, the better the outcome will be.
Among the most common mistakes are:
· Lack of strategic planning
· Valuation expectations that are out of line with the market
· Insufficient preparation for the due diligence process
· Neglecting operational management during the sale process
· Postponing the resolution of relevant issues
· Failing to seek professional advice early on
Avoiding these pitfalls is key to preserving the company’s value and increasing the likelihood of a successful transaction.

How long should I stay with the company after the sale?

The transition period typically lasts between one and two years after the transaction. However, this timeframe may vary depending on the buyer and the role they are agreed to continue playing in the company.

When is the right time to sell a business?

The optimal time depends on a number of factors, such as the owner's personal circumstances, the company's financial performance, and market conditions.

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Wafi has over 20 years of corporate and investment banking experience, with most of his career developed at Banco Santander and Banesto.

Prior to joining PKF Attest CM, he occupied various positions at Santander Global Banking & Markets division (SGBM), where he was Head of Middle East Corporates, Head of the Global Funding Platform, Head of the MTN Desk at the European Bond Syndicate, responsible for Private Placements origination covering European: Corporates, FIG, & SSA issuers.

Before joining Banco Santander, Wafi worked at Banesto, where he was Head of DCM, Bond Syndicate and the Funding Platform. He has extensive experience in bond issuance and has set up and managed the SPV, the EMTN and ECP programmes for the bank and corporate clients, issuing vanillas and structured notes. He was a board member of Banesto Financial Products PLC and Santander International Products PLC.

Wafi has an outstanding fingerprint in the capital markets and is co-responsible for the creation and management of the Banesto Funding Platform, a unique primary bond market platform that helped corporates access capital markets recurrently and efficiently through primary MTNs and CP issuance.

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Prior to joining PKF Attest CM, he worked at Banco Santander and prior to that at Banesto were he was Head of Structured Financing for the Basque Country region, responsible for origination, risk analysis, debt structuring and syndication of a wide range of financing products: corporate finance, project finance, LBO and debt restructuring.

Before Joining Banesto, Javier worked at Accenture and Management Solutions where he was senior consultant in different international projects covering banking and insurance sectors.

Javier holds BA Hons in Economics and Business Administration from Deusto University

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Jokin Cantera

Jokin has over 25 years of commercial and investment banking experience, with most of his career developed at Banco Santander, Banesto and JP Morgan Chase.

Prior to PKF Attest CM, Jokin worked at Santander Global Banking & Markets division (SGBM) in London, where he was Head of Northern European Institutional Sales, covering credit markets, rates and FX distribution of flow and non-flow products.

Before joining Banco Santander, Jokin was deputy general manager of the wholesale banking division at Banesto, responsible for credit markets (origination, trading and distribution), ACPM, securitization, rates and structured products distribution. He was also head of institutional sales, responsible for the structuring, origination and distribution of credit, rates, FX and multi-asset products to institutional investors.

With a strong innovative mindset and an entrepreneurial approach, Jokin was co-responsible for the creation of the Banesto Funding Platform, a unique primary bond market platform that helped corporates access the capital markets recurrently and efficiently through primary MTNs and CP issuance. He was also a board member of Banesto Financial Products PLC.

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