The Spanish M&A market has shown a remarkable performance during the first half of 2024. Below, we present the most relevant statistics for the period, along with a detailed analysis of the emerging trends and key sectors that are driving this dynamic.

During the first half of 2024, a total of 1,532 transactions have been registered in the Spanish M&A market, accumulating a value of approximately 54,632 million euros.

• Mergers and acquisitions: 609 transactions were carried out, with a cumulative value of EUR 26,156 million.
• Private equity: this sector has registered 189 transactions, reaching a total value of 19,162 million euros.
• Venture capital: with 331 operations and a value of 1,650 million euros.
• Asset purchase: 404 transactions were recorded in this category, with a value of 7,664 million euros.

• The real estate sector stands out as the most active sector of the year, with a total of 785 transactions recorded in the first half of the year. This sector reflects strong demand and continued investment in properties and developments, consolidating its position as the transactional market leader. However, compared to the same period last year, a decrease of 18% has been observed, which can be attributed to economic factors and market saturation in certain areas.
• With 156 deals, the internet, software and IT services sector is positioned as one of the most dynamic and strategic sectors in the first half of 2024. This sector has been driven by digital transformation and the growing need for advanced technological solutions across industries. Companies are investing in innovations such as artificial intelligence, big data and cybersecurity to stay competitive and respond to market demands. However, like real estate, this sector has seen an 11% decline compared to the same period last year, which could be due to market consolidation and the maturation of certain technologies.
• The hotel and leisure sector has seen a notable increase in transactional activity, ranking third with 47 deals in the first half of 2024. This sector has seen a 68% increase compared to the same period last year, reflecting a significant recovery and renewed interest in tourism and entertainment in the wake of the pandemic.

Spanish companies have continued their international expansion, with the following destinations standing out:

• United States: 32 operations.
• Portugal: 29 operations.
• Italy: 24 operations.

On the other hand, foreign investment in Spain has shown strong interest from several countries:

• United States: 88 operations.
• France: 80 operations.
• United Kingdom: 69 operations.

In summary, the Spanish M&A market has demonstrated resilience and adaptability in the first half of 2024, presenting numerous opportunities for investors and companies. International investments reflect a strong connection with markets such as the United States and Europe, both in terms of inbound and outbound capital. The sector has a positive outlook and an evolving economic environment, with transactional activity expected to continue to grow and diversify in the second half of 2024.

*Source: TTR (Transactional Track Record)