Spanish M&A Market Outlook for 2025

The Spanish mergers and acquisitions market continues to demonstrate dynamism, driven by generational succession processes in family businesses and sectoral consolidation in fragmented industries.

Key Trends

We observe three fundamental dynamics shaping the current landscape:

1. Generational Succession

A significant proportion of the Spanish business fabric is managed by founders reaching retirement age. Many of these companies, with revenues between €5M and €50M, seek solutions that ensure business and team continuity.

2. Sectoral Consolidation

Sectors such as industrial services, logistics, and hospitality present consolidation opportunities where scale operators can generate significant synergies.

3. Specialized Investors

The Spanish mid-market is attracting increasing attention from investors with sectoral focus and the ability to contribute value beyond capital.

Implications for Business Owners

For business owners considering strategic options, the current context offers favorable conditions: capital availability, reasonable multiples, and demand for quality assets.

Early preparation of the sale process—including financial organization, documentation, and strategic positioning—proves determinant in maximizing transaction value.